Company: FUFU
Filing Date: 2025-07-08
Form Type: F-3
Source: 0001213900-25-061902
Chunk: 23

Company: Bitfufu Inc.
Filing Date: 2025-07-08
Form: F-3
Chunk 23
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 a resolution of shareholders of that Cayman
subsidiary if a copy of the plan of merger is given to every member of that Cayman subsidiary to be merged unless that member agrees otherwise.
For this purpose, a company is a “parent” of a subsidiary if it holds issued shares that together represent at least ninety
percent (90%) of the votes at a general meeting of the subsidiary.

The consent of each holder
of a fixed or floating security interest over a constituent company is required unless this requirement is waived by a court in the Cayman
Islands.

Save in certain limited circumstances,
a shareholder of a Cayman constituent company who dissents from the merger or consolidation is entitled to payment of the fair value of
his shares (which, if not agreed between the parties, will be determined by the Cayman Islands court) upon dissenting to the merger or
consolidation; provided that the dissenting shareholder complies strictly with the procedures set out in the Companies Act. The exercise
of dissenter rights will preclude the exercise by the dissenting shareholder of any other rights to which he or she might otherwise be
entitled by virtue of holding shares, save for the right to seek relief on the grounds that the merger or consolidation is void or unlawful.

Separate from the statutory
provisions relating to mergers and consolidations, the Companies Act also contains statutory provisions that facilitate the reconstruction
and amalgamation of companies by way of schemes of arrangement; provided that the arrangement is approved by a majority in number of each
class of shareholders and creditors with whom the arrangement is to be made, and who must in addition represent three-fourths in value
of each such class of shareholders or creditors, as the case may be, that are present and voting either in person or by proxy at a meeting,
or meetings, convened for that purpose. The convening of the meetings and subsequently the arrangement must be sanctioned by the Grand
Court of the Cayman Islands. While a dissenting shareholder has the right to express to the court the view that the transaction ought
not to be approved, the court can be expected to approve the arrangement if it determines that:

| ● | the statutory provisions as to the required majority vote have been met; |

| ● | the shareholders have been fairly represented at the meeting in question and the statutory majority are acting bona fide without coercion of the minority to promote interests adverse to those of the class; |

| ● | the arrangement is such that may be reasonably approved by an intelligent and honest