Company: CAAS
Filing Date: 2025-07-01
Form Type: F-4
Source: 0001104659-25-064447
Chunk: 150

Company: China Automotive Systems, Inc.
Filing Date: 2025-07-01
Form: F-4
Chunk 150
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) a corporation will be the surviving corporation of a merger and no vote of its stockholders is required to approve the merger, then a stockholder of such corporation have appraisal rights in connection with a merger or consolidation only if the stockholder is required to accept in exchange for its shares anything other than: (1) shares of stock of the corporation surviving or resulting from the merger or consolidation; (2) shares of any other corporation that on the effective date of the merger or consolidation will be either listed on a national securities exchange or held of record by more than 2,000 stockholders; or (3) cash instead of fractional shares of the corporation. 
 The Company’s shares are currently listed on Nasdaq and it is expected that, at the Effective Time, the CAAS Cayman ordinary shares will be authorized for listing on Nasdaq, subject to official notice of issuance and satisfaction of other standard conditions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |     | The Companies Act and the Amended CAAS Cayman Articles do not specifically provide for appraisal rights. However, in connection with the compulsory transfer of shares to a 90% shareholder of a Cayman Islands company as described under “Shareholder Approval of Business Combinations; Fundamental Changes,” a minority shareholder may apply to the Cayman Islands court within one month of receiving notice of the compulsory transfer objecting to that transfer. In these circumstances, the burden is on the minority shareholder to show that the court should exercise its discretion to prevent the compulsory transfer. The court is unlikely to grant any relief in the absence of bad faith, fraud, unequal treatment of shareholders or collusion as between the offeror and the holders of the shares who have accepted the offer as a means of unfairly forcing out minority shareholders. 
 In connection with a merger or a consolidation, dissenting shareholders have the right to be paid the fair value of their shares (which, if not agreed between the parties, will be determined by the Cayman Islands court) if they follow the required procedures set out in the Companies Act, subject to certain exceptions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Stockholder/Shareholder Consent to Action Without Meeting                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Under the DGCL, unless otherwise provided in the certificate of incorporation, any action that can be taken at a meeting of the stockholders may be taken without a meeting if written consent to the action is signed by the holders of outstanding stock having the minimum number of votes necessary to authorize or take the action at a