Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 387

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 387
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 these thresholds, however, it is already compliant with the regulation. Following the Merger, NLS will be compliant with this regulation. Powers Our Board has the following non -delegableand inalienable powers and duties: •the overall management of the company and the issuing of all necessary directives; •determination of our appropriate management organization, including the power to define responsibilities and duties of our corporate bodies as well as our internal hierarchy; •the organization of the accounting, financial control and financial planning systems as required for management of the company; •the appointment and dismissal of persons entrusted with managing and representing the company; •overall supervision of the persons entrusted with managing the company, in particular with regard to compliance with the law, articles of association, operational regulations and directives; •compilation and issuance of an annual report, preparation for the general meeting and implementation of its resolutions; •notification to the court in the event that NLS is over -indebted; and •preparing the remuneration report. According to article 17 of our articles of association, the Board may assign the preparation and the implementation of its resolutions or the supervision of business transactions with regard to the non -transferableand inalienable duties to committees or individual members. In the event that the Board assigns duties in accordance with our articles of association and Swiss law, the Board shall design and implement reporting policies describing how such an assignment would be carried out by a committee or individual member. Based on article 18 of our articles of association, our Board may completely or partially delegate the power to manage the Company to one or more of its members (managing directors) or to third persons (managers). 231 Duties A director of a Swiss company has a fiduciary duty to the company only. This duty has two components: the duty of care and the duty of loyalty. The duty of care requires that a director act in good faith, with the care that an ordinarily prudent director would exercise under similar circumstances. Under this duty, a director must inform himself of, and disclose, all material information reasonably available regarding a significant transaction. The duty of loyalty requires that a director act in a manner he reasonably believes to be in the best interest of the company. He must not use his corporate position for personal gain or advantage. This duty prohibits in principle self -dealingby a director and mandates that the best interest of the company take precedence over any interest possessed by a director or officer. Directors also have an obligation to treat shareholders equally proportionate to their