Company: LICN
Filing Date: 2025-01-29
Form Type: 424B5
Source: 0001213900-25-007741
Chunk: 154

Company: Lichen International Ltd
Filing Date: 2025-01-29
Form: 424B5
Chunk 154
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 be brought by a minority shareholder. However,
based on English authorities, which would in all likelihood be of persuasive authority in the Cayman Islands, the Grand Court can be expected
to apply and follow the common law principles (namely the rule derived from the seminal English case of Foss v. Harbottle, and
the exceptions thereto, which limits the circumstances in which a shareholder may bring a derivative action on behalf of the company or
a personal action to claim loss which is reflective of loss suffered by the company) which permit a minority shareholder to commence a
class action against, or derivative actions in the name of the company to challenge the following acts in the following circumstances:

| ● | a                                                         
 company acts or proposes to act illegally or ultra vires; |

| ● | an                                                                                 
 irregularity in the passing of a resolution which requires a special majority; and |

| ● | an                                                                                                                                       
 act which constitutes a fraud on the minority where the wrongdoers are themselves in control of the company, so that they will not cause 
 the company to bring an action.                                                                                                          |

In the case of a company (not being
a bank) having its share capital divided into shares, the Grand Court may, on the application of members holding not less than one fifth
of the shares of the company in issue, appoint an inspector to examine the affairs of the company and to report thereon in such manner
as the Grand Court shall direct.

Indemnification of Directors and Executive Officers and Limitation of Liability

The Cayman Islands Companies Act does not limit
the extent to which a company’s memorandum and articles of association may provide for indemnification of officers and directors,
except to the extent any such indemnification may be held by the Cayman Islands courts to be contrary to public policy, such as to provide
indemnification against civil fraud or the consequences of committing a crime. Our amended and restated memorandum and articles of association
permit indemnification of officers and directors for losses, damages, costs and expenses incurred in their capacities as such unless such
losses or damages shall incur or sustain by or through their own wilful neglect or default respectively. This standard of conduct is generally
the same as permitted under the Delaware General Corporation Law for a Delaware corporation.

Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to our directors, officers or persons controlling us under the foregoing provisions, we have
been informed that in the opinion of the SEC, such indemnification