Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 516

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 516
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. Based on such ordinance large multinational enterprises with global turnover of at least EUR 750million which are effectively taxed below 15% will be liable to a top -uptax (Ergänzungssteuer), in line with the OECD framework for the Qualified Domestic Minimum Top -upTax and the Income Inclusion Rule up to 15% minimum taxation. 287

COMPARISON OF SHAREHOLDERS’ RIGHTS AND CORPORATE GOVERNANCE The following is a summary comparison of material differences between the rights of a Kadimastem shareholder and NLS (or, after the Merger, combined company) shareholder arising from the differences between the laws of the State of Israel and of the State of Switzerland and the governing documents of the respective companies. Kadimastem is incorporated under the laws of the State of Israel. NLS is (and, after the Merger, the combined company will be) incorporated under the laws of Switzerland. If the Merger is completed, Kadimastem shareholders’ Kadimastem Ordinary Shares will be exchanged against the right to receive NLS Common Shares upon consummation of the Merger, which are expected to trade (as shares of the combined company) on Nasdaq. The following summary does not purport to be a complete statement of the rights of holders of Kadimastem Ordinary Shares under the applicable provisions of the Israeli Companies Law, Kadimastem’s corporate documents, or the rights of holders of NLS (or, after the Merger, combined company) Common Shares under the applicable provisions of the CO and NLS’s articles. This summary does not furthermore purport to be a complete description of the specific provisions referred to in this summary. This summary contains a list of the material differences but is not meant to be relied upon as an exhaustive list or a detailed description of the provisions discussed and is qualified in its entirety by reference to the laws of Israel, the U.S. and Switzerland, Kadimastem’s articles of association and memorandum of association, and NLS’s (after the Merger, the combined company’s) Articles. You are also urged to carefully read the relevant provisions of the Swiss Code of Obligations and the Israeli Companies Law for a more complete understanding of the differences between being a shareholder of Kadimastem and a shareholder of NLS. Copies of the documents referred to in this summary may be obtained as described under the section entitled “ Where You Can Find More Information.” The discussion in this section does not include a description of rights