Company: ZCARW
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001213900-25-002658
Chunk: 36

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-01-10
Form: PRER14A
Chunk 36
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ANT SHARES PROPOSAL.

<div align='center'>17

proposal 5
THE REVERSE SPLIT PROPOSAL</div>

Introduction

Our Board acted unanimously
to adopt the Reverse Split Proposal to amend our Amended and Restated Certificate of Incorporation to enable a potential reverse split
of our issued and outstanding Common Stock at a ratio of between one-for-two and one-for-twenty (the “Reverse Split”),
with such ratio to be determined at the sole discretion of the Board and with such Reverse Split to be effected at such time and date,
if at all, as determined by the Board in its sole discretion and, at the same time. The Board is now asking you to approve this Reverse
Split Proposal.

If approved, the Reverse
Split will be effective upon the filing of a certificate of amendment to our Amended and Restated Certificate of Incorporation, in substantially
the form attached to this proxy statement as (the “Reverse Split Amendment”), with the Secretary
of State of Delaware, with such filing to occur, if at all, at the sole discretion of the Board.

The intention of the Board
in obtaining approval for the Reverse Split would be to increase the stock price of our Common Stock sufficiently above the $1.00 minimum
bid price requirement of the Nasdaq Market LLC (“Nasdaq”) if, in the future, the closing bid price for the Common
Stock falls below $1.00 per share for 30 consecutive business days and the Company no longer complies with the minimum bid price
requirement for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”) and we receive notice from Nasdaq that the price of the Common Stock no longer complies with the Minimum Bid
Price Requirement.

In addition, the effect
of the Reverse Split will be to increase the number of authorized but unissued shares of Common Stock of the Company since the proposed
Reverse Split will only effect the outstanding shares of Common Stock and the date of the Reverse Split and will have no impact on the
number of authorized shares that the Company is permitted to issue pursuant to the Amended and Restated Certificate of Incorporation.
The Board, in its sole discretion, may elect to abandon the Reverse Split in its entirety at any time.

One principal effect of
the Reverse Split would be to decrease the number of outstanding shares of our Common Stock. Except for de minimus adjustments that may
result from the treatment of fractional shares as