Company: WCT
Filing Date: 2025-10-07
Form Type: DRS
Source: 0001213900-25-096917
Chunk: 98

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-10-07
Form: DRS
Chunk 98
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man Islands together with a declaration as to the solvency of the consolidated or surviving company,
a statement setting out the assets and liabilities of each constituent company and an undertaking that a copy of the certificate of merger
or consolidation will be given to the members and creditors of each constituent company and that notification of the merger or consolidation
will be published in the Cayman Islands Gazette. Court approval is not required for a merger or consolidation which is effected in compliance
with these statutory procedures.

A merger between a Cayman Islands parent company
and its Cayman Islands subsidiary or subsidiaries does not require authorization by a resolution of shareholders. For this purpose a subsidiary
is a company of which at least ninety percent (90%) of the issued shares entitled to vote are owned by the parent company.

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The consent of each holder of a fixed or floating
security interest over a constituent company is required unless this requirement is waived by a court in the Cayman Islands.

Save in certain circumstances, a dissenting shareholder
of a Cayman Islands constituent company is entitled to payment of the fair value of his shares upon dissenting to a merger or consolidation.
The exercise of appraisal rights will preclude the exercise of any other rights save for the right to seek relief on the grounds that
the merger or consolidation is void or unlawful.

Separate from the statutory provisions relating
to mergers and consolidations, the Companies Act also contains statutory provisions that facilitate the reconstruction and amalgamation
of companies by way of schemes of arrangement, provided that the arrangement is approved by (a) seventy-five percent (75%) in value of
the shareholders or class of shareholders, as the case may be, or (b) a majority in number of the creditors or each class of creditors,
as the case may be, with whom the arrangement is to be made, that are, in each case present and voting either in person or by proxy at
a meeting, or meetings, convened for that purpose. The convening of the meetings and subsequently the arrangement must be sanctioned by
the Grand Court of the Cayman Islands. While a dissenting shareholder has the right to express to the court the view that the transaction
ought not to be approved, the court can be expected to approve the arrangement if it determines that:

| ● | the statutory provisions as to the required majority vote 
 have been met;                                            |

| ● | the shareholders have been fairly represented at the meeting                                                                          
 in question and the statutory majority are acting bona fide without coercion