Company: CUB
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042278
Chunk: 24

Company: Lionheart Holdings
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 conversion of Founder Shares will never occur on a
less than one-for-one basis.

Holders of record of Class A
Ordinary Shares and Class B Ordinary Shares are entitled to one vote for each share held on all matters to be voted on by shareholders.
Unless specified in the Amended and Restated Articles or as required by the Companies Act (As Revised) of the Cayman Islands, as may be
amended from time to time, or stock exchange rules, an ordinary resolution under Cayman Islands law and the Amended and Restated Articles,
which requires the affirmative vote of at least a majority of the votes cast by such shareholders as, being entitled to do so, vote in
person or, where proxies are allowed, by proxy at the applicable general meeting of the Company is generally required to approve any matter
voted on by the Company’s shareholders. Approval of certain actions requires a special resolution under Cayman Islands law, which
(except as specified below) requires the affirmative vote of at least two-thirds of the votes cast by such shareholders as, being entitled
to do so, vote in person or, where proxies are allowed, by proxy at the applicable general meeting (a “Special Resolution”),
and pursuant to the Amended and Restated Articles, such actions include amending the Amended and Restated Articles and approving a statutory
merger or consolidation with another company. There is no cumulative voting with respect to the appointment of directors, meaning, following
our initial Business Combination, the holders of more than 50% of the Ordinary Shares voted for the appointment of directors can elect
all of the directors. Prior to the consummation of the initial Business Combination, only holders of the Class B Ordinary Shares
(i) have the right to vote on the appointment and removal of directors and (ii) are entitled to vote on continuing the Company
in a jurisdiction outside the Cayman Islands (including any Special Resolution required to amend the constitutional documents or to adopt
new constitutional documents, in each case, as a result of our approving a transfer by way of continuation in a jurisdiction outside the
Cayman Islands). Holders of Class A Ordinary Shares are not entitled to vote on these matters during such time. These provisions
of the Amended and Restated Articles may only be amended if approved by a Special Resolution passed by the affirmative vote of at least
90% (or, where such amendment is proposed in respect of the consummation of the initial Business Combination, two-thirds