Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 310

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 310
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 of the period set out in clause (iii) above or seven days following the date on which the plan
of merger or consolidation is filed, whichever is later, the constituent company, the surviving company or the consolidated company must
make a written offer to each dissenting shareholder to purchase their shares at a price that the company determines is the fair value
and if the company and the shareholder agree the price within 30 days following the date on which the offer was made, the company must
pay the shareholder such amount; and (v) if the company and the shareholder fail to agree on a price within such 30 day period, within
20 days following the date on which such 30 day period expires, the company must (and any dissenting shareholder may) file a petition
with the Grand Court of the Cayman Islands to determine the fair value of all dissenting shares and such petition by the company must
be accompanied by a list of the names and addresses of the dissenting shareholders with whom agreements as to the fair value of their
shares have not been reached by the company. At the hearing of that petition, the court has the power to determine the fair value of
the shares together with a fair rate of interest, if any, to be paid by the company upon the amount determined to be the fair value.
Any dissenting shareholder whose name appears on the list filed by the company may participate fully in all proceedings until the determination
of fair value is reached. A shareholder who dissents must do so in respect of all shares that that person holds in the constituent company.
Upon the giving of a notice of dissent under clause (iii) above, the shareholder to whom the notice relates shall cease to have any of
the rights of a shareholder except the right to be paid the fair value of that person’s shares and certain rights specified in
the Companies Act. These rights of a dissenting shareholder are not available in certain circumstances, for example, to dissenting shareholders
holding shares of any class in respect of which an open market exists on a recognized stock exchange or recognized interdealer quotation
system at the relevant date, where the consideration for such shares to be contributed are shares of any company listed on a national
securities exchange or shares of the surviving or consolidated company.

Moreover, Cayman Islands law
has separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances, commonly
referred to in the Cayman Islands as a “scheme of arrangement,” which may be tantamount to a merger.