Company: OXBRW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000736
Chunk: 322

Company: OXBRIDGE RE HOLDINGS Ltd
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1
Chunk 322
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 amalgamation of companies, provided that the arrangement
is approved by a majority in number of each class of shareholders or creditors (representing 75% by value) 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 man of that class acting in respect of his interest; and

    ●
    the arrangement is not
    one that would more properly be sanctioned under some other provision of the Companies Law.

When
a takeover offer is made and accepted by holders of 90% of the shares within four months, the offeror may, within a two-month period
commencing on the expiration of such four-month period, require the holders of the remaining shares to transfer such shares on the terms
of the offer. An objection can be made to the Grand Court of the Cayman Islands, but such objection is unlikely to succeed in the case
of an offer which has been so approved unless there is evidence of fraud, bad faith or collusion.

If
an arrangement and reconstruction is thus approved, the dissenting shareholder would have no rights comparable to appraisal rights, which
would otherwise ordinarily be available to dissenting shareholders of certain corporations incorporated in the United States, including
Delaware corporations, providing rights to receive payment in cash for the judicially determined value of the shares.

Holders
of our securities may have difficulty obtaining or enforcing a judgment against us, and they may face difficulties in protecting their
interests because we are incorporated under Cayman Islands law.

Because
we are a Cayman Islands company, there is uncertainty as to whether the Grand Court