Company: NTCL
Filing Date: 2025-12-29
Form Type: F-3
Source: 0001104659-25-124826
Chunk: 68

Company: NetClass Technology Inc
Filing Date: 2025-12-29
Form: F-3
Chunk 68
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 be immediately updated to record and give effect to the issuance of shares by
us. Once our register of members has been updated, the shareholders recorded in the register of members will be deemed to have legal title
to the shares set against their name. However, there are certain limited circumstances where an application may be made to a Cayman Islands
court for a determination on whether the register of members reflects the correct legal position. Further, the Cayman Islands court has
the power to order that the register of members maintained by a company should be rectified where it considers that the register of members
does not reflect the correct legal position. If an application for an order for rectification of the register of members were made in
respect of our ordinary shares, then the validity of such shares may be subject to re-examination by a Cayman Islands court.

Differences in Corporate Law

The Cayman Islands Companies Act is derived, to
a large extent, from the older Companies Acts of England and Wales but does not follow recent English statutory enactments, and accordingly
there are significant differences between the Cayman Islands Companies Act and the current Companies Act of England and Wales. In addition,
the Cayman Islands Companies Act differs from laws applicable to United States corporations and their shareholders. Set forth below is
a summary of certain significant differences between the provisions of the Cayman Islands Companies Act applicable to us and the comparable
laws applicable to companies incorporated in the State of Delaware in the United States and their shareholders.

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Mergers and Similar Arrangements

The Cayman Islands Companies Act permits mergers
and consolidations between Cayman Islands companies and between Cayman Islands companies and non-Cayman Islands companies. For these purposes,
(a) “merger” means the merging of two or more constituent companies and the vesting of their undertaking, property and
liabilities in one of such companies as the surviving company, and (b) a “consolidation” means the combination of two
or more constituent companies into a consolidated company and the vesting of the undertaking, property and liabilities of such companies
to the consolidated company. In order to effect such a merger or consolidation, the directors of each constituent company must approve
a written plan of merger or consolidation, which must then be authorized by (a) a special resolution of the shareholders of each
constituent company, and (b) such other authorization, if any, as may be specified in such constituent company’s articles of
association. The written plan