Company: SDAWW
Filing Date: 2025-02-06
Form Type: 424B5
Source: 0001213900-25-010989
Chunk: 92

Company: SunCar Technology Group Inc.
Filing Date: 2025-02-06
Form: 424B5
Chunk 92
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. The Companies Act is modeled on English law but does not follow recent English law statutory enactments, and differs from laws applicable
to United States corporations and their shareholders. Set forth below is a summary of the material differences between the provisions
of the Companies Act applicable to us and the laws applicable to companies incorporated in the United States and their shareholders.

Mergers and Similar Arrangements. In
certain circumstances, the Companies Act allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman
Islands company and a company incorporated in another jurisdiction (provided that it is facilitated by the laws of that other
jurisdiction).

Where the merger or consolidation is between two
Cayman Islands companies, the directors of each company must approve a written plan of merger or consolidation containing certain prescribed
information. That plan of merger or consolidation must then be authorized by (a) a special resolution (usually a majority of not
less than two-thirds of the votes which are cast in person or by proxy by those shareholders who, being entitled to do so, attend and
vote at a quorate general meeting of the relevant company or a unanimous written resolution of all of the shareholders entitled to vote
at a general meeting of the relevant company) of the shareholders of each company; and (b) such other authorization, if any, as may
be specified in such constituent company’s articles of association. No shareholder resolution is required for a merger between a
parent company (i.e., a company that owns at least 90% of the issued shares of each class in a subsidiary company) and its subsidiary
company where the parent and subsidiary company are both incorporated under the Companies Act. The consent of each holder of a fixed or
floating security interest of a constituent company must be obtained, unless the court waives such requirement. If the Cayman Islands
Registrar of Companies is satisfied that the requirements of the Companies Act (which includes certain other formalities) have been complied
with, the Registrar of Companies will register the plan of merger or consolidation.

Where the merger or consolidation involves a foreign
company, the procedure is similar, save that with respect to the foreign company, the directors of the Cayman Islands company are required
to make a declaration to the effect that, having made due enquiry, they are of the opinion that the requirements set out below have been
met: (i) that the merger or consolidation is permitted or not prohibited by the constitutional documents of the foreign company and
by the laws of