Company: CHOW
Filing Date: 2025-08-22
Form Type: F-1/A
Source: 0001641172-25-025146
Chunk: 140

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-08-22
Form: F-1/A
Chunk 140
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 of arrangement, provided that the arrangement is approved by a majority in number of each class of shareholders and creditors with whom the arrangement is to be made, and who must in addition represent three-fourths in value of each such class of shareholders or creditors, as the case may be, that are 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 of the minority to promote interests adverse to those     
 of the class;                                                                                   |
| ● | the                                                                                             
 arrangement is such that may be reasonably approved by an intelligent and honest man of that    
 class acting in respect of his interest; and                                                    |
| ● | the                                                                                             
 arrangement is not one that would more properly be sanctioned under some other provision        
 of the Companies Act.                                                                           |

The Companies Act also contains a statutory power of compulsory acquisition which may facilitate the “squeeze out” of dissentient minority shareholders upon a tender offer. When a tender offer is made and accepted by holders of 90.0% of the shares affected within four months, the offeror may, within a two-month period commencing on the expiration of such four-month period, require the holders of the remaining shares to transfer such shares to the offeror on the terms of the offer. An objection can be made to the Grand Court of the Cayman Islands but this is unlikely to succeed in the case of an offer which has been so approved unless there is evidence of fraud, bad faith or collusion.

If an arrangement and reconstruction by way of scheme of arrangement is thus approved and sanctioned, or if a tender offer is made and accepted in accordance with the foregoing statutory procedures, a dissenting shareholder would have no rights comparable to appraisal rights, which would otherwise ordinarily be available to dissenting shareholders of Delaware corporations, providing rights to receive payment in cash for the judicially determined value of the shares.

Shareholders’ Suits. In principle, we will normally be the proper plaintiff to sue for a wrong done to us as a company,