Company: PENG
Filing Date: 2025-03-24
Form Type: PRE 14A
Source: 0001193125-25-060930
Chunk: 53

Company: Penguin Solutions, Inc.
Filing Date: 2025-03-24
Form: PRE 14A
Chunk 53
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 Securities Law Consequences; Resale Restrictions” for more information on the exemption. Please see “The Scheme of Arrangement Proposal—Conditions to Completion of the Scheme of Arrangement” below for more information on the conditions to the Transaction. Amendment, Termination or Delay Subject to applicable Cayman Islands law and any other applicable laws, the Scheme of Arrangement may be amended, modified or supplemented at any time before or after its approval by the Penguin Solutions Cayman shareholders at the Scheme Meeting. At the Sanction Hearing, the Cayman Court may impose such conditions, modifications and amendments as it deems appropriate in relation to the Scheme of Arrangement. The Cayman Court would be unlikely to approve or impose any modification of, or addition or condition to, the Scheme of Arrangement which might be material to the interests of Penguin Solutions Cayman shareholders, unless Penguin Solutions Cayman shareholders were informed of such modification, addition or condition. It will be a matter for the Cayman Court to decide, in its discretion, whether or not the consent of Penguin Solutions Cayman shareholders should be sought at a further meeting of Penguin Solutions Cayman shareholders. Similarly, if a modification, addition or condition is put forward which, in the opinion of the Penguin Solutions Cayman Board, is of such a nature or importance as to require the approval of Penguin Solutions Cayman shareholders at a further meeting of Penguin Solutions Cayman shareholders, the Penguin Solutions Cayman Board will not take the necessary steps to enable the Scheme of Arrangement to become effective unless and until such shareholder approval is obtained by the Penguin Solutions Cayman shareholders. The Scheme of Arrangement contains a provision for Penguin Solutions Cayman to agree, on behalf of all persons concerned, to any condition, modification or amendment of the Scheme of Arrangement that the Cayman Court may think fit to approve or impose. After approval of the Scheme of Arrangement by the Penguin Solutions Cayman shareholders, no amendment, modification or supplement to the Scheme of Arrangement may be made or effected that legally requires further approval by the Penguin Solutions Cayman shareholders without obtaining that approval. It is expected that the Scheme of Arrangement will become effective at or around at a.m., (Pacific Time), on , 2025. If the Scheme of Arrangement has not become effective on or before December 31, 2025 (or such later date as Penguin Solutions Cayman may determine and the Cayman Court may allow), the Scheme of Arrangement will lapse by its terms and not come into effect (i.e. the Completion Date will not