Company: OTSA
Filing Date: 2025-06-09
Form Type: F-1
Source: 0001213900-25-052720
Chunk: 239

Company: OTSAW Ltd
Filing Date: 2025-06-09
Form: F-1
Chunk 239
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 made at the time when the resolution of the directors authorizing such call was passed and may be required to be paid by installments. A call may be revoked or postponed as the directors may determine. Redemption, Repurchase and Surrender of Ordinary Shares We may issue shares on terms that such shares are to be redeemed or are liable to be redeemed at the option of the shareholder or the Company. The redemption of shares will be effected in such manner and upon such terms as may be determined, before the issue of such shares, by either our board of directors or by our shareholders by ordinary resolution. The Companies Act and our amended and restated memorandum and articles of association permits us to purchase our own shares, subject to certain restrictions and requirements. Subject to the Companies Act and our amended and restated memorandum and articles of association, we may purchase our own shares (including any redeemable shares) on such terms and in such manner as approved by the directors or by an ordinary resolution of our shareholders or otherwise in accordance with our articles of association. Under the Companies Act, the repurchase of any share may be paid out of our profits, or out of the share premium account, or out of the proceeds of a fresh issue of shares made for the purpose of such repurchase, or, if permitted under our articles of association, out of capital. If the repurchase proceeds are paid out of our capital, we must, immediately following such payment, be able to pay our debts as they fall due in the ordinary course of business. In addition, under the Companies Act, no such share may be repurchased (1) unless it is fully paid up, and (2) if such repurchase would result in there being no shares outstanding other than shares held as treasury shares. The repurchase of shares may be effected in such manner and upon such terms as may be authorized by or pursuant to our articles of association. In addition, under the Companies Act and the amended and restated memorandum and articles of association, our directors may accept the surrender of any fully paid share for no consideration unless, as a result of the surrender, the surrender would result in there being no shares in issue (or only shares held as treasury shares remaining in issue). 149 Variations of Rights of Shares Whenever and for so long as the capital of the Company is divided into different classes, the rights attached to any such class may, subject to any rights or restrictions for the time being attached to any class, only be varied with the consent in writing of the holders of at least three