Company: BCAR
Filing Date: 2025-04-29
Form Type: S-1
Source: 0001829126-25-003006
Chunk: 257

Company: D. Boral ARC Acquisition I Corp.
Filing Date: 2025-04-29
Form: S-1
Chunk 257
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circumstances if they follow a prescribed procedure. In essence, where such rights apply, that procedure is as follows: (i) the
shareholder must give his written objection to the merger or consolidation to the constituent company before the vote on the merger
or consolidation, including a statement that the shareholder proposes to demand payment for their shares if the merger or
consolidation is authorized by the vote; (ii) within 20 days following the date on which the merger or consolidation is authorized
by the shareholders, the constituent company must give written notice to each shareholder who made a written objection; (iii) a
shareholder must within 20 days following receipt of such notice from the constituent company, give the constituent company a
written notice of his intention to dissent including, among other details, a demand for payment of the fair value of their shares;
(iv) within seven days following the date of the expiration of the period set out in paragraph (ii) 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 and any
dissenting shareholder shall each designate an appraiser. The designated appraisers shall designate another appraiser and the
appraisers shall fix the fair value of all dissenting shares.

Moreover, British Virgin Islands law has separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances, commonly referred to in the British Virgin Islands as a “scheme of arrangement,” which may be tantamount to a merger. Schemes of arrangement will generally be more suited for complex mergers or other transactions involving widely held companies. In the event that a merger was sought pursuant to a scheme of arrangement (the procedures for which are more rigorous and take longer to complete than the procedures typically required to consummate a merger in the United States), the arrangement in question must be approved (i) in relation to a compromise or arrangement between a company and its creditors or any class