Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 217

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 217
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 the constituent
company must give written notice to each shareholder who made a written objection; (c) a
shareholder must within 20 days following receipt of such notice from the constituent company,
give the constituent company a written notice of his intention to dissent including, among
other details, a demand for payment of the fair value of his shares; (d) within seven days
following the date of the expiration of the period set out in paragraph (b) above or seven
days following the date on which the plan of merger or consolidation is filed, whichever
is later, the constituent company, the surviving company or the consolidated company must
make a written offer to each dissenting shareholder to purchase his shares at a price that
the company determines is the fair value and if the company and the shareholder agree the
price within 30 days following the date on which the offer was made, the company must pay
the shareholder such amount; and (e) if the company and the shareholder fail to agree a price
within such 30-day period, within 20 days following the date on which such 30-day period
expires, the company must (and any dissenting shareholder may) file a petition with the Cayman
Islands Grand Court to determine the fair value and such petition must be accompanied by
a list of the names and addresses of the dissenting shareholders with whom agreements as
to the fair value of their shares have not been reached by the company. At the hearing of
that petition, the court has the power to determine the fair value of the shares together
with a fair rate of interest, if any, to be paid by the company upon the amount determined
to be the fair value. Any dissenting shareholder whose name appears on the list filed by
the company may participate fully in all proceedings until the determination of fair value
is reached. These rights of a dissenting shareholder are not available in certain circumstances,
for example, to dissenters holding shares of any class in respect of which an open market
exists on a recognized stock exchange or recognized interdealer quotation system at the relevant
date or where the consideration for such shares to be contributed are shares of any company
listed on a national securities exchange or shares of the surviving or consolidated company.

Moreover, Cayman Islands law has separate statutory
provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances, schemes of arrangement will generally
be more suited for complex mergers or other transactions involving widely held companies, commonly referred to in the Cay