Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 73

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 73
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 for a dissenting shareholder in a merger
or consolidation to apply to the Grand Court for a determination of the fair value of the dissenter’s shares, if it is not possible
for the Company and the dissenter to agree a fair price within the time limits prescribed.

Shareholders of Cayman Islands
exempted companies, such as our Company, have no general rights under Cayman Islands’ law to inspect corporate records and accounts
or to obtain copies of lists of shareholders. Our directors have discretion under our Memorandum and Articles to determine whether or
not, and under what conditions, our corporate records may be inspected by our shareholders, but are not obliged to make them available
to our shareholders. This may make it more difficult for you to obtain the information needed to establish any facts necessary for a shareholder
motion or to solicit proxies from other shareholders in connection with a proxy contest.

Lastly, under the law of the
Cayman Islands, there is little statutory law for the protection of minority shareholders. The principal protection under statutory law
is that shareholders may bring an action to enforce the constituent documents of the corporation, our Memorandum and Articles. Shareholders
are entitled to have the affairs of the company conducted in accordance with the general law and the memorandum and articles of association.

There are common law rights
for the protection of shareholders that may be invoked, largely dependent on English company law, since the common law of the Cayman Islands
for business companies is limited. Under the general rule pursuant to English company law known as the rule in Foss v. Harbottle, a court
will generally refuse to interfere with the management of a company at the insistence of a minority of its shareholders who express dissatisfaction
with the conduct of the company’s affairs by the majority or the board of directors. However, every shareholder is entitled to have
the affairs of the company conducted properly according to law and the constituent documents of the company. As such, if those who control
the company have persistently disregarded the requirements of company law or the provisions of the company’s memorandum and articles
of association, then the courts will grant relief. Generally, the areas in which the courts will intervene are the following: (1) an act
complained of which is outside the scope of the authorized business or is illegal or not capable of ratification by the majority; (2)
acts that constitute fraud on the minority where the wrongdoers control the company; (3) acts that infringe on the personal rights of