Company: ZDAN
Filing Date: 2025-06-30
Form Type: F-1
Source: 0001683168-25-004840
Chunk: 241

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-06-30
Form: F-1
Chunk 241
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 the Delaware business combination
statute. However, although the Companies Act does not regulate transactions between a company and its significant shareholders, interested
director transactions are governed by the terms of a memorandum and articles of association, the directors of the company are also required
to comply with fiduciary duties which they owe to the company under Cayman Islands law, including the duty to ensure that, in their opinion,
such transactions must be entered into in the bona fide best interests of the company and for a proper purpose and
not with the effect of constituting a fraud on the minority shareholders.

Dissolution; Winding Up

Under the Delaware General
Corporation Law, unless the board of directors approves the proposal to dissolve, dissolution must be approved by shareholders holding
100% of the total voting power of the corporation. Only if the dissolution is initiated by the board of directors may it be approved
by a simple majority of the corporation’s outstanding shares. Delaware law allows a Delaware corporation to include in its Certificate
of Incorporation a supermajority voting requirement in connection with dissolutions initiated by the board.

Under the Companies Act
and our Amended and Restated Memorandum and Articles of Association to be adopted and to become effective immediately prior to completion
of this offering, the Company may be wound up by a special resolution of our shareholders, or if the winding up is initiated by our board
of directors, by either a special resolution of our members or, if our Company is unable to pay its debts as they fall due, by an ordinary
resolution of our members. In addition, a company may be wound up by an order of the courts of the Cayman Islands. The court has authority
to order winding up in a number of specified circumstances including where it is, in the opinion of the court, just and equitable to
do so.

Variation of Rights of Shares

Under the Delaware General
Corporation Law, a corporation may vary the rights of a class of shares with the approval of a majority of the outstanding shares of
such class, unless the Certificate of Incorporation provides otherwise. Under the Companies Act and our Amended and Restated Memorandum
and Articles of Association to be adopted and become effective immediately prior to completion of this offering, if our share capital
is divided into more than one class of shares, the rights attaching to any class of shares (unless otherwise provided by the terms of
issue of the shares of that class) may be varied either with the consent in writing of the holders