Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 410

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 410
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to issue up to 500,000,000 Purchaser Ordinary Shares. The issued and outstanding Purchaser Securities as of the date of this Agreement
are set forth on Schedule 3.5(a). All outstanding shares of Purchaser Securities are duly authorized, validly issued, fully paid and non-assessable
and are not subject to or issued in violation of any purchase option, right of first refusal, preemptive right, subscription right or
any similar right under any provision of the Companies Act, Purchaser’s Organizational Documents or any Contract to which Purchaser
is a party. None of the outstanding Purchaser Securities has been issued in violation of any applicable securities Laws.

(b) Except as set forth in
Schedule 3.5(b), there are no (i) outstanding options, warrants, puts, calls, convertible securities, preemptive or similar rights, (ii)
bonds, debentures, notes or other Indebtedness having general voting rights or that are convertible or exchangeable into securities having
such rights or (iii) subscriptions or other rights, agreements, arrangements, Contracts or commitments of any character (other than this
Agreement and the Ancillary Documents), (A) relating to the issued or unissued shares of Purchaser, or (B) obligating Purchaser to issue,
transfer, deliver or sell or cause to be issued, transferred, delivered, sold or repurchased any options or shares or securities convertible
into or exchangeable for such shares, or (C) obligating Purchaser to grant, extend or enter into any such option, warrant, call, subscription
or other right, agreement, arrangement or commitment for such capital shares. Other than the Redemption or as expressly set forth in this
Agreement, there are no outstanding obligations of Purchaser to repurchase, redeem or otherwise acquire any shares of Purchaser or to
provide funds to make any investment (in the form of a loan, capital contribution or otherwise) in any Person. Except as set forth in
Schedule 3.5(b), there are no shareholders agreements, voting trusts or other agreements or understandings to which Purchaser is a party
with respect to the voting of any shares of Purchaser.

(c) All Indebtedness of Purchaser
as of the date of this Agreement is disclosed on Schedule 3.5(c). No Indebtedness of Purchaser contains any restriction upon (i) the prepayment
of any of such Indebtedness, (ii)