Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 175

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 175
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 the applicable Law. Notwithstanding the foregoing, the Proposed Bylaws will provide that the exclusive forum provision will not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other claim for which the federal courts of the United States have exclusive jurisdiction.

The SPAC Board further believes that the Proposed Governing Documents providing for such exclusive forum would promote judicial fairness and avoid conflicting results, as well as make PubCo’s defense of applicable claims less disruptive and more economically feasible, principally by avoiding duplicative discovery.

Resolution to be Voted Upon

The full text of the resolution to be passed is as follows:

“RESOLVED, as an ordinary resolution, on an advisory and non-binding basis, to approve each of the following proposals (Proposals A-D):

Proposal A:
To approve provisions in the Proposed Governing Documents such that the authorized share capital of PubCo will be (a) shares of common
stock, par value $0.0001 per share and shares of preferred stock, par value $0.0001 per share.;

Proposal B:To approve provisions in the Proposed Certificate Governing Documents, which will govern PubCo if the Conditions Precedent Proposals are approved, to authorize the PubCo Board to issue any or all shares of preferred stock in one or more classes or series, with such terms and conditions as may be expressly determined by the PubCo Board;

Proposal C:To approve provisions in the Proposed Governing Documents, which will govern PubCo if the Conditions Precedent Proposals are approved, that provide that SPAC stockholders may not take action by written consent in lieu of a meeting; and

Proposal D:To approve provisions in the Proposed Governing Documents, which will adopt Texas as the exclusive forum for certain stockholder litigation and the United States District Courts as the exclusive forum for litigation arising out of the federal securities Laws.

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Vote Required for Approval

The approval of the Governing
Documents Advisory Proposals will require an ordinary resolution under Cayman Islands Law, being a resolution passed by the holders of
a majority of the SPAC Ordinary Shares who, being present (either virtually or by proxy) and entitled to vote at the Extraordinary General
Meeting, vote at the Extraordinary General Meeting.

As discussed above, the Governing
Documents Advisory Proposals are advisory votes and therefore are not binding on SPAC or the SPAC Board. Furthermore, the Business Combination
is not conditioned on the separate approval of the Governing Documents Advisory