Company: NKLR
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001213900-25-063846
Chunk: 213

Company: Terra Innovatum Global N.V.
Filing Date: 2025-07-15
Form: S-4/A
Chunk 213
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 of the Business Combination; •The fact that the executive officers will still continue to control the company post -BusinessCombination which may allow them to make decisions that benefit their personal interests, which may not always align with those of unaffiliated shareholders. Under Cayman Islands law, directors and officers owe the following fiduciary duties: (i)duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole; (ii)duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose; (iii)directors should not improperly fetter the exercise of future discretion; (iv)duty to exercise powers fairly as between different sections of shareholders; (v)duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interests; and (vi)duty to exercise independent judgment. In addition to the above, directors also owe a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the company and the general knowledge skill and experience of that director. 86

As set out above, directors have a duty not to put themselves in a position of conflict and this includes a duty not to engage in self -dealing, or to otherwise benefit as a result of their position. However, in some instances what would otherwise be a breach of this duty can be forgiven and/or authorized in advance by the shareholders provided that there is full disclosure by the directors. This can be done by way of permission granted in the memorandum and articles of association or alternatively by shareholder approval at general meetings. Each of GSR III’s officers, directors and advisors has, and any of them in the future may have additional, fiduciary or contractual obligations to another entity pursuant to which such officer or director is or will be required to present a business combination opportunity to such entity. Accordingly, if any of GSR III’s officers, directors or advisors becomes aware of a business combination opportunity which is suitable for an entity to which he or she has then -currentfiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such business combination opportunity to such entity, subject to their fiduciary duties under Cayman Islands law. G