Company: LPG
Filing Date: 2025-06-03
Form Type: S-3ASR
Source: 0000919574-25-003489
Chunk: 12

Company: DORIAN LPG LTD.
Filing Date: 2025-06-03
Form: S-3ASR
Chunk 12
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15% or more of our outstanding voting stock at any time within three years before the date on which the person’s status as an 
 interested shareholder is determined, and the affiliates and associates of such person.                                                                                                 |

Subject to certain exceptions, a business combination includes, among other things:

| • | certain mergers or consolidations of us or any direct or indirect majority-owned subsidiary of ours; |

| • | any sale, lease, exchange, mortgage, pledge, transfer or other disposition of our assets or of any subsidiary of ours having an aggregate market value equal to 10% or more of either the 
 aggregate market value of all of our assets, determined on a combined basis, or the aggregate value of all of our outstanding stock;                                                      |

| • | certain transactions that result in the issuance or transfer by us of any stock of ours to the interested shareholder; |

| • | any transaction involving us or any of our subsidiaries that has the effect of increasing the proportionate share of any class or series of stock, or securities convertible into any class or 
 series of stock, of ours or any such subsidiary that is owned directly or indirectly by the interested shareholder or any affiliate or associate of the interested shareholder; and            |

| • | any receipt by the interested shareholder of the benefit directly or indirectly (except proportionately as a shareholder) of any loans, advances, guarantees, pledges or other financial 
 benefits provided by or through us.                                                                                                                                                      |

These provisions of our articles of incorporation do not apply to a business combination if:

| • | before a person became an interested shareholder, our board of directors approved either the business combination or the transaction in which the shareholder became an interested shareholder; |

| • | upon consummation of the transaction which resulted in the shareholder becoming an interested shareholder, the interested shareholder owned at least 85% of our voting stock outstanding at the 
 time the transaction commenced, other than certain excluded shares;                                                                                                                             |

| • | at or following the transaction in which the person became an interested shareholder, the business combination is approved by our board of directors and authorized at an annual or special       
 meeting of shareholders, and not by written consent, by the affirmative vote of the holders of at least two-thirds of our outstanding voting stock that is not owned by the interest shareholder; |

| • | the shareholder was or became an interested shareholder prior to the closing of this initial public offering; |

| • | the business combination is proposed prior to the consummation or abandonment of and subsequent to the earlier of the