Company: XTKG
Filing Date: 2025-04-25
Form Type: 20-F
Source: 0001213900-25-035626
Chunk: 173

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-04-25
Form: 20-F
Item: Item 10
Chunk 173
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 delay or prevent a change of control of our Company or management
that shareholders may consider favorable, including provisions that authorize our Board to issue preference shares in one or more series
and to designate the price, rights, preferences, privileges and restrictions of such preference shares without any further vote or action
by our shareholders.

Differences in Corporate
Law

The Companies Act is modeled
after that of English law but does not follow many recent English law statutory enactments. In addition, the Companies Act differs from
laws which applicable to United States corporations and their shareholders. Set forth below is a summary of some of the significant differences
between the provisions of the Companies Act applicable to us and the laws applicable to the companies incorporated in the State of Delaware.

Mergers and Similar
Arrangements. The Companies Act permits mergers and consolidations between Cayman Islands companies and between Cayman Islands
companies and non-Cayman Islands companies. For these purposes, a “merger” means the merging of two or more constituent companies
and the vesting of their undertaking, property and liabilities in one of such companies as the surviving company, and a “consolidation”
means the combination of two or more constituent companies into a consolidated company and the vesting of the undertaking, property and
liabilities of such companies to the consolidated company.

In order to effect a merger
or consolidation, the directors of each constituent company must approve a written plan of merger or consolidation, which must then be
authorized by a special resolution of the shareholders of each constituent company, and such other authorization, if any, as may be specified
in such constituent company’s articles of association.

The plan of merger or consolidation
must be filed with the Registrar of Companies of the Cayman Islands together with, inter alia, a declaration as to the solvency of each
constituent company, a list 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.