Company: XTKG
Filing Date: 2025-03-04
Form Type: F-3/A
Source: 0001213900-25-019896
Chunk: 32

Company: X3 Holdings Co., Ltd.
Filing Date: 2025-03-04
Form: F-3/A
Chunk 32
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 an ordinary resolution, the requisite
majority, and may be signed in as many counterparts as may be necessary.

Shareholder Proposals. Under
the Delaware General Corporation Law, a shareholder has the right to put any proposal before the annual meeting of shareholders, provided
it complies with the notice provisions in the governing documents. A special meeting may be called by the board of directors or any other
person authorized to do so in the governing documents, but shareholders may be precluded from calling special meetings. The Companies
Act provides shareholders with only limited rights to requisition a general meeting and does not provide shareholders with any right
to put any proposal before a general meeting. However, these rights may be provided in articles of association. Our Seventh Amended and
Restated Memorandum and Articles of Association allow our shareholders holding not less than 10% of the share capital in issue to requisition
a shareholder’s meeting. Other than this right to requisition a shareholders’ meeting, a shareholder may give notice to the
Company of business proposed to be brought before an annual general meeting. As an exempted Cayman Islands company, we are not obliged
by law to call shareholders’ annual general meetings.

Cumulative Voting. Under
the Delaware General Corporation Law, cumulative voting for elections of directors is not permitted unless the corporation’s certificate
of incorporation specifically provides for it. Cumulative voting potentially facilitates the representation of minority shareholders
on a board of directors since it permits the minority shareholder to cast all the votes to which the shareholder is entitled on a single
director, which increases the shareholder’s voting power with respect to electing such director. There are no prohibitions in relation
to cumulative voting under the Companies Act but our Seventh Amended and Restated Memorandum and Articles of Association do not provide
for cumulative voting.

Removal of Directors. Under
the Delaware General Corporation Law, a director of a corporation with a may be removed with the approval of a majority of the outstanding
shares entitled to vote, unless the certificate of incorporation provides otherwise. Under our Seventh Amended and Restated Memorandum
and Articles of Association, directors may be removed by way of a special resolution of our shareholders at any time before the expiration
of his or her period of office.

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Transactions with Interested Shareholders.The Delaware General Corporation Law contains a business combination statute applicable to Delaware corporations whereby, unless the corporation has specifically elected not to be governed by such statute by amendment to its certificate of incorporation, it is