Company: NMP
Filing Date: 2025-07-02
Form Type: 424B4
Source: 0001213900-25-060721
Chunk: 248

Company: NMP Acquisition Corp.
Filing Date: 2025-07-02
Form: 424B4
Chunk 248
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 as a company and as a general rule, a derivative action may not be brought by a minority shareholder. However, based on both Cayman Islands authorities and English law authorities, which would in all likelihood be of persuasive authority and be applied by a court in the Cayman Islands, exceptions to the foregoing principle apply in circumstances in which: (a)an act which is illegal or ultra vires or beyond the scope of its authority with respect to the company and is therefore incapable of ratification by the shareholders; (b)an act which, although not ultra vires, could be effected if duly authorized by more than the number of votes which have actually been obtained; and (c)an act which constitutes a “fraud on the minority” where the wrongdoers are themselves in control of the company. A shareholder may have a direct right of action against us where the individual rights of that shareholder have been infringed or are about to be infringed. 158 Enforcement of Civil Liabilities. Cayman Islands The Cayman Islands has a different body of securities laws as compared to the U.S. and provides less protection to investors. Additionally, Cayman Islands companies may not have standing to sue before the Federal courts of the U.S. We have been advised by Ogier (Cayman) LLP, our Cayman Islands legal counsel, that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments of courts of the United States predicated upon the civil liability provisions of the federal securities laws of the United States or any state; and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us predicated upon the civil liability provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those provisions are penal in nature. In those circumstances, although there is no statutory enforcement in the Cayman Islands of judgments obtained in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For a foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum, and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter, impe