Company: PENG
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001193125-25-110748
Chunk: 50

Company: Penguin Solutions, Inc.
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 50
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 Proposal and the other conditions to the Scheme of Arrangement have been satisfied or waived, we will seek the Cayman
Court’s sanction of the Scheme of Arrangement Proposal at the Sanction Hearing, further details of which will be advertised by Penguin Solutions Cayman in The Wall Street Journal and a Cayman Islands newspaper in accordance with the Cayman
Court Order.

Penguin Solutions Cayman shareholders who voted at the Scheme Meeting or gave instructions to their broker or nominee to
vote at the Scheme Meeting (as applicable) have the right to attend the Sanction Hearing and to appear in person or be represented by counsel to support or oppose the sanction of the Scheme of Arrangement. If you are a Penguin Solutions Cayman
shareholder who wishes to appear in person or by counsel at the Sanction Hearing and present evidence or arguments in support of or in opposition to the Scheme of Arrangement, we expect that the Cayman Court will require that you give notice of your
intention to do so to Penguin Solutions Cayman’s Cayman Islands legal advisers, Walkers (Cayman) LLP, at 190 Elgin Avenue, George Town, Grand Cayman KY1 9001, Cayman Islands, at least three days before the Sanction Hearing. Penguin Solutions
Cayman will not object to the participation in the Sanction Hearing by any person who holds shares through a broker or any other person with a legitimate interest in the proceedings and all such persons will have a right to participate.

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. 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 the Penguin Solutions Cayman shareholders, unless the Penguin Solutions Cayman shareholders were informed of any such modification, addition or condition. It will be a matter for the Cayman Court to
decide, in its discretion, whether the consent of the Penguin Solutions Cayman shareholders should be sought at a further meeting. 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