Company: WENNU
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109353
Chunk: 74

Company: WEN Acquisition Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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 Ordinary
Shares or pre-business combination activity; provided that such conversion of Founder Shares will never occur on a less than one-for-one
basis.

15

WEN ACQUISITION CORP

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

Holders of the 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 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, 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 the 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 approving a transfer by way of continuation in a jurisdiction outside
the Cayman Islands). Holders of the 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%