Company: GVH
Filing Date: 2025-06-27
Form Type: 424B4
Source: 0001213900-25-058674
Chunk: 83

Company: Globavend Holdings Ltd
Filing Date: 2025-06-27
Form: 424B4
Chunk 83
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 within four months, the offeror
may, within a two-month period commencing on the expiration of such four-month period, require the holders of the remaining shares to
transfer such shares to the offeror on the terms of the offer. An objection can be made to the Grand Court of the Cayman Islands but this
is unlikely to succeed in the case of an offer which has been so approved unless there is evidence of fraud, bad faith or collusion.

If an arrangement and reconstruction
by way of scheme of arrangement is thus approved and sanctioned, or if a tender offer is made and accepted, in accordance with the foregoing
statutory procedures, a dissenting shareholder would have no rights comparable to appraisal rights, save that objectors to a takeover
offer may apply to the Grand Court of the Cayman Islands for various orders that the Grand Court of the Cayman Islands has a broad discretion
to make, which would otherwise ordinarily be available to dissenting shareholders of Delaware corporations, providing rights to receive
payment in cash for the judicially determined value of the shares.

The Companies Act also
contains statutory provisions which provide that a company may present a petition to the Grand Court of the Cayman Islands for the
appointment of a restructuring officer on the grounds that the company (a) is or is likely to become unable to pay its debts
within the meaning of section 93 of the Companies Act; and (b) intends to present a compromise or arrangement to its creditors
(or classes thereof) either, pursuant to the Companies Act, the law of a foreign country or by way of a consensual restructuring.
The petition may be presented by a company acting by its directors, without a resolution of its members or an express power in its
articles of association. On hearing such a petition, the Cayman Islands court may, among other things, make an order appointing a
restructuring officer or make any other order as the court thinks fit.

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Shareholders’ Suits.In
principle, we will normally be the proper plaintiff and as a general rule a derivative action may not be brought by a minority shareholder.
However, based on English authorities, which would in all likelihood be of persuasive authority in the Cayman Islands, the Cayman Islands
courts can be expected to follow and apply the common law principles (namely the rule in Foss v. Harbottle and the exceptions thereto)
so that a non-controlling shareholder may be permitted to commence a class action against or