Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 336

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 16G
Chunk 336
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ITEM 16G. CORPORATE GOVERNANCE

Differences between Swiss Laws and Nasdaq
Requirements

The Sarbanes-Oxley Act, as
well as related rules subsequently implemented by the SEC, require foreign private issuers, such as us, to comply with various corporate
governance practices. In addition, we are required to comply with Nasdaq rules. Under those rules, we may elect to follow certain corporate
governance practices permitted under the Swiss law in lieu of compliance with corresponding corporate governance requirements otherwise
imposed by Nasdaq rules for U. S. domestic registrants.

In accordance with Swiss law
and practice and subject to the exemption set forth in Rule 5615 of the Nasdaq rules, as a foreign private issuer, we have elected to
rely on home country governance requirements and certain exemptions thereunder rather than the Nasdaq rules, with respect to the following
requirements:

  Composition of the board of directors. Swiss law does not require that a majority of our board of directors consist of independent directors. Our board of directors therefore may include fewer ...  

  Quorum. In accordance with Swiss law and                                                                                                     
  generally accepted business practices, our articles of association do not provide quorum requirements generally applicable to general        
  meetings of shareholders. Our practice thus varies from the requirement of Nasdaq Listing Rule 5620(c), which requires an issuer to provide  
  in its bylaws for a generally applicable quorum, and that such quorum may not be less than one-third of the outstanding voting stock.        
                                                                                                                                               
                                                                                                                                               
                                                                                                                                               
  According to Swiss law, for the approval of the                                                                                              
  management report and the annual financial statements, the Company’s auditor must be present at such a general meeting of shareholders,      
  unless the general meeting of shareholders waives such attendance by unanimous decision.                                                     
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  Proxy Solicitations. There are currently three types of institutional proxies under Swiss Law: (i) the independent proxy, (ii) the board proxy and (iii) the custodian proxy. According to Swiss ...  

  Share Issuances. Pursuant to Swiss law, prior to our initial public offering, we opted out of shareholder approval requirements by way of including authorized and conditional share capital for ...  
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