Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 216

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 216
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 modelled on English Law but does not follow recent English Law statutory enactments, and differs from laws
applicable to U.S. corporations and their shareholders. Set forth below is a summary of the material differences between the provisions
of the Companies Act applicable to us and the laws applicable to companies incorporated in the United States and their shareholders.

Mergers and Similar Arrangements. In certain circumstances,
the Companies Act allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman Islands exempted company
and a company incorporated in another jurisdiction (provided that is facilitated by the laws of that other jurisdiction) so as to form
a single surviving company.

Where the merger or consolidation is between two
Cayman Islands companies, the directors of each company must approve a written plan of merger or consolidation containing certain prescribed
information. That plan or merger or consolidation must then be authorized by either (a) a special resolution (usually a two-thirds of
the votes of shareholders, who, being entitled to do so, attend and vote at a general meeting) of the shareholders of each company; or
(b) such other authorization, if any, as may be specified in such constituent company’s articles of association. No shareholder
resolution is required for a merger between a parent company (i.e., a company that owns at least 90% of the votes at a general meeting
of a subsidiary company) and its subsidiary company. The consent of each holder of a fixed or floating security interest of a constituent
company must be obtained, unless the court waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the
requirements of the Companies Act (which includes certain other formalities) have been complied with, the Registrar of Companies will
register the plan of merger or consolidation. Where the merger or consolidation involves a foreign company, the procedure is similar,
save that with respect to the foreign company, the directors of the Cayman Islands exempted company are required to make a declaration
to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been met: (i) that the
merger or consolidation is permitted or not prohibited by the constitutional documents of the foreign company and by the laws of the
jurisdiction in which the foreign company is incorporated, and that those laws and any requirements of those constitutional documents
have been or will be complied with; (ii) that no petition or other similar proceeding has been filed and remains outstanding or order