Company: ZDAN
Filing Date: 2025-06-30
Form Type: F-1
Source: 0001683168-25-004840
Chunk: 234

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-06-30
Form: F-1
Chunk 234
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Differences in Corporate Law

Cayman Islands companies
are governed by the Companies Act. The Companies Act is derived, to a large extent, from the older Companies Acts of England and Wales
but does not follow recent United Kingdom statutory enactments, and accordingly there are significant differences between the Cayman Companies Act and the current Companies Act of the UK. In addition, the Cayman Companies Act differs from laws applicable to United States corporations and their shareholders.Set forth below
is a summary of certain significant differences between the provisions of the Companies Act applicable to us and the laws applicable
to companies incorporated in the State of Delaware in the United States.

Mergers and Similar Arrangements

The Companies Act permits
mergers and consolidations between Cayman Islands companies and between Cayman Islands companies and non-Cayman Islands companies provided
that the laws of the foreign jurisdiction permit such merger or consolidation. For these purposes, (a) “merger” means
the merging of two or more constituent companies and the vesting of their undertaking, property and liabilities in one of such companies
as the surviving company, and (b) a “consolidation” means the combination of two or more constituent companies into
a consolidated company and the vesting of the undertaking, property and liabilities of such companies to the consolidated company.

In order to effect such
a merger or consolidation, the directors of each constituent company must approve a written plan of merger or consolidation, which must
then be authorized by (a) a special resolution of the shareholders of each constituent company, and (b) such other authorization,
if any, as may be specified in such constituent company’s Articles.

The written plan of merger
or consolidation must be filed with the Registrar of Companies of the Cayman Islands together with, among other things, a declaration
as to the solvency of the consolidated or surviving company, a list of the assets and liabilities of each constituent company and an
undertaking that a copy of the certificate of merger or consolidation will be given to the members and creditors of each constituent
company and that notification of the merger or consolidation will be published in the Cayman Islands Gazette. Court approval is not required
for a merger or consolidation which is effected in compliance with these statutory procedures.

A merger between a Cayman
parent company and its Cayman subsidiary or subsidiaries does not require authorization by a special resolution of shareholders. For
this purpose, a subsidiary is a company of which at least 90% of the issued shares