Company: XTKG
Filing Date: 2025-06-04
Form Type: 424B5
Source: 0001213900-25-051196
Chunk: 73

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-06-04
Form: 424B5
Chunk 73
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 of 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 and consolidation will be published in the Cayman Islands Gazette. Dissenting shareholders have the right
to be paid the fair value of their shares if they follow the required procedures under the Companies Act subject to certain
exceptions. The fair value of the shares will be determined by the Cayman Islands court if it cannot be agreed among the parties.
Court approval is not required for a merger or consolidation effected in compliance with these statutory procedures.

In addition, there are statutory
provisions that facilitate the reconstruction and amalgamation of companies, provided that the arrangement is approved, for a creditor-led
arrangement, by a majority in number of each class of creditors with whom the arrangement is to be made, and, in either a shareholder
or a creditor arrangement, 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;                                                                |
| ● | the arrangement is such that an intelligent and honest man of that class acting in respect of his interest would reasonably approve; and |
| ● | the arrangement is not one that would more properly be sanctioned under some other provision of the Companies Act.                       |

When a take-over offer is
made and accepted by holders of not less than 90% of the shares within four months, the offer, or may, within a two-month period conversing
on the expiration of such four months period, require the holders of the remaining shares to transfer such shares 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 unless there is evidence of fraud,
bad faith or collusion.

If the arrangement and reconstruction
is thus approved, the dissenting shareholder would have no rights comparable to appraisal rights