Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 220

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 220
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 to withhold Dutch dividend withholding tax at a rate of 15% from dividends distributed by it pursuant to the DWTA. Generally, Coincheck Parent is responsible for the withholding of such dividend withholding tax at source. Dividends distributed by Coincheck Parent include, but are not limited to: (i)distributions of profits in cash or in kind, whatever they be named and in whatever form; (ii)proceeds from the liquidation of Coincheck Parent or proceeds from the repurchase of Ordinary Shares by Coincheck Parent, other than as a temporary portfolio investment ( tijdelijke belegging), in excess of the average paid -incapital recognized for the purposes of the DWTA; (iii)the par value of the Ordinary Shares issued to a holder of Ordinary Shares or Warrants or an increase in the par value of the Ordinary Shares, to the extent that no related contribution, recognized for the purposes of the DWTA, has been made or will be made; and (iv)partial repayment of paid -incapital, that is, •not recognized for DWTA purposes, or •recognized for DWTA purposes, to the extent that Coincheck Parent has “net profits” ( zuivere winst), unless (a) the general meeting of shareholders has resolved in advance to make this repayment, and (b) the par value of the Ordinary Shares concerned has been reduced by an equal amount by way of an amendment to the Articles of Association of Coincheck Parent. The term “net profits” includes anticipated profits that have yet to be realized. 146 In addition to the above, it cannot be excluded that proceeds of redemption of Warrants or proceeds of the repurchase of Warrants or an actual or deemed (including in connection with any cashless exercise of Warrants) full or partial cash settlement of Warrants fall within the scope of the expression “dividends distributed” and are therefore to such extent subject to Dutch dividend withholding tax at a rate of 15%. However, to date, no authoritative case law of the Dutch courts has been made publicly available in this respect. The exercise of a Warrant will however in the view of Coincheck Parent not give rise to Dutch dividend withholding tax, except to the extent (i) the exercise price paid in cash per issued Ordinary Share is below the nominal value of an Ordinary Share (currently, the nominal value per Ordinary Share is €0.01 and the exercise price of a Warrant will be $11.50) and (ii) such difference is