Company: STAK
Filing Date: 2025-02-26
Form Type: 424B4
Source: 0001493152-25-008310
Chunk: 133

Company: STAK Inc.
Filing Date: 2025-02-26
Form: 424B4
Chunk 133
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 to which he or she might otherwise be entitled by virtue of holding shares, save for the right to seek relief on the grounds that the merger or consolidation is void or unlawful.

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In addition, there are statutory provisions that facilitate the reconstruction and amalgamation of companies by way of schemes of arrangement, provided that the arrangement is approved by seventy-five percent (75%) in value of the shareholders or class of shareholders, as the case may be, that are present and voting either in person or by proxy at a meeting, or meetings, convened for that purpose. The convening of the meetings and subsequently the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder has the right to express to the court the view that the transaction ought not to be approved, the court can be expected to approve the arrangement if it determines that:

| ● | the                                                                                                                                   
 statutory provisions as to the required majority vote have been met;                                                                  |
| ● | the                                                                                                                                   
 shareholders have been fairly represented at the meeting in question and the statutory majority are acting bona fide without coercion 
 of the minority to promote interests adverse to those of the class;                                                                   |
| ● | the                                                                                                                                   
 arrangement is such that may be reasonably approved by an intelligent and honest person of that class acting in respect of his or     
 her interest; and                                                                                                                     |
| ● | the                                                                                                                                   
 arrangement is not one that would more properly be sanctioned under some other provision of the Companies Act.                        |

When a takeover offer is made and accepted by holders of 90.0% of the shares affected within four months, the offeror may, within a two-month period commencing on the expiration of such four-month period, give notice to require the holders of the remaining shares to transfer such shares 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 that has been so approved unless there is evidence of fraud, bad faith or collusion.

If an arrangement and reconstruction is thus approved, or if a takeover offer is made and accepted, a dissenting shareholder would have no rights comparable to appraisal rights, 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.

Shareholders’ Suits.In principle, we will normally be the proper plaintiff to sue for a wrong done to us as a company, and as a general rule, a