Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 179

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 179
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 certain of SPAC’s directors and officers have interests in the Transaction that are different from, in addition to, or in conflict with, your interests as a shareholder. See the section entitled “ Proposal No. 1 - The Transaction Proposal - Interests of SPAC Initial Shareholders, Directors and Officers in the Transaction.” See also the sections entitled “ Risk Factors” and “ Beneficial Ownership of Securities” for more information and other risks.

Resolution to be Voted Upon

The full text of the resolution to be voted upon in respect of the Stock Issuance Proposal is as follows:

“ RESOLVED, as an ordinary resolution, that, for the purposes of complying with the applicable provisions of Nasdaq Listing Rules 5635(a), (b) and (d), the issuance or potential issuance of SPAC Ordinary Shares or shares of PubCo Common Stock in connection with the Transaction, including in connection with the Mergers and the PIPE Financing, and any other issuances of SPAC Ordinary Shares or shares of PubCo Common Stock and securities convertible into or exercisable for SPAC Ordinary Shares or shares of PubCo Common Stock pursuant to subscription, purchase or other similar agreements that SPAC may enter into prior to the Closing, be approved in all respects.”

Recommendation of the SPAC Board

THE SPAC BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE “FOR” THE APPROVAL OF THE STOCK ISSUANCE PROPOSAL.

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<div align='center'>INCENTIVE PLAN PROPOSAL

GREENLAND ENERGY COMPANY

2025 OMNIBUS INCENTIVE PLAN</div>

Overview

At the Greenland Energy Company (the “Company”) annual meeting, stockholders will be asked to approve the Greenland Energy Company 2025 Omnibus Incentive Plan (the “Plan”). The board of directors of the Company (the “Board”) adopted the Plan on [☐], 2025, subject to its approval by the stockholders of the Company. If the stockholders approve the Plan, it will become effective as of [☐], 2025 (the “Effective Date”).

Board Recommendation

If approved by Greenland Energy Company stockholders, the Plan will become effective and will be administered by the Board or by a committee that our Board designates for this purpose (referred to below as the administrator), which will have the authority to make awards under the Plan.

After careful consideration, the Board believes that approving the Plan is in