Company: HVIIR
Filing Date: 2025-12-23
Form Type: S-4
Source: 0001493152-25-029121
Chunk: 380

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-12-23
Form: S-4
Chunk 380
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 meeting or for the remainder of the term, and may also require shareholder approval.

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Both the HVII Charter and the New ONE Nuclear Charter provide that only the board of directors, and not the stockholders or shareholders, may fill vacancies on the board.

Removal of Directors

Under the DGCL, the holders of a majority of shares of each class entitled to vote at an election of directors may vote to remove any director or the entire board without cause unless (i) the board is a classified board, in which case directors may be removed only for cause, or (ii) the corporation has cumulative voting, in which case, if less than the entire board is to be removed, no director may be removed without cause if the votes cast against their removal would be sufficient to elect him or her. Currently, as permitted by the DGCL when a company’s board of directors is classified, the New ONE Nuclear Charter provides that directors may be removed only for cause and only by the affirmative vote of the holders of not less than 66.67% of the outstanding shares of capital stock of the Delaware corporation then entitled to vote at an election of directors. The New ONE Nuclear Charter will permit removal only with cause and by the affirmative vote of the holders of not less 66.67 of the outstanding New ONE Nuclear Common Stock entitled to vote generally in the election of directors.

Under Cayman Islands law, there is no statutory right for shareholders to remove directors. Instead, the removal process is governed by a Cayman Islands exempted company’s articles of association. Under the HVII Charter, a director may be removed without cause by an ordinary resolution; however, prior to a business combination, only holders of HVII Class B Ordinary Shares have the right to remove any director.

Fiduciary Duties and Business Judgment

Under Delaware law, members of the board of directors or any committee designated by the board of directors are entitled to rely in good faith upon the records of the corporation and upon such information, opinions, reports and statements presented to the corporation by corporate officers, employees, committees of the board of directors or other persons as to matters such member reasonably believes are within such other person’s professional or expert competence, provided that such other person has been selected with reasonable care by or on behalf of the corporation. Such appropriate reliance on records and other information protects directors from liability related to decisions made based on such records and other information.

Under Cayman Islands law, directors owe fiduciary duties to the company, including duties of loyalty,