Company: EMCRF
Filing Date: 2025-07-17
Form Type: PRE 14A
Source: 0001641172-25-020063
Chunk: 75

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-17
Form: PRE 14A
Chunk 75
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 of the death or bankruptcy of another Member shall indemnify the Company and the directors 
 against any loss or damage suffered by the Company or the directors as a result of that registration.                              |

Rights of person entitled to a Share following death or bankruptcy

| 9.9 | A                                                                                                                                        
 person becoming entitled to a Share by reason of the death or bankruptcy of a Member shall have the rights to which he would be entitled 
 if he were registered as the holder of the Share. However, until he is registered as Member in respect of the Share, he shall not        
 be entitled to attend or vote at any meeting of the Company or at any separate meeting of the holders of that class of Shares in         
 the Company.                                                                                                                             |

| Annex C-23 |

| 10. | Alteration 
 of capital |

Increasing, consolidating, converting, dividing and cancelling share capital

| 10.1 | To                                                                                                                               
 the fullest extent permitted by the Act, the Company may by Ordinary Resolution do any of the following and amend its Memorandum 
 for that purpose:                                                                                                                |

| (a) | increase                                                                                                                                
 its share capital by new Shares of the amount fixed by that Ordinary Resolution and with the attached rights, priorities and privileges 
 set out in that Ordinary Resolution;                                                                                                    |

| (b) | consolidate                                                                                       
 and divide all or any of its share capital into Shares of larger amount than its existing Shares; |

| (c) | convert                                                                                                        
 all or any of its Paid Up Shares into stock, and reconvert that stock into Paid Up Shares of any denomination; |

| (d) | sub-divide                                                                                                                           
 its Shares or any of them into Shares of an amount smaller than that fixed by the Memorandum, so, however, that in the sub-division, 
 the proportion between the amount paid and the amount, if any, unpaid on each reduced Share shall be the same as it was in case of   
 the Share from which the reduced Share is derived; and                                                                               |

| (e) | cancel                                                                                                                                 
 Shares which, at the date of the passing of that Ordinary Resolution, have not been taken or agreed to be taken by any person, and     
 diminish the amount of its share capital by the amount of the Shares so cancelled or, in the case of Shares without nominal par value, 
 diminish the number of Shares into which its capital is divided.                                                                       |

Dealing with fractions resulting from consolidation of Shares

| 10.2 | Whenever,                                                                                                                          
 as a result of