Company: NCEL
Filing Date: 2025-10-24
Form Type: POS AM
Source: 0001213900-25-102149
Chunk: 44

Company: NewcelX Ltd.
Filing Date: 2025-10-24
Form: POS AM
Chunk 44
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 competent court in Kloten (Zurich), where our registered office is located, to appoint a special auditor. If the general meeting
of shareholders rejects the request, one or more shareholders representing at least 5% of the share capital or votes may within three
months’ request that the court appoint a special auditor. The court will issue such an order if the petitioners can demonstrate
that the board of directors, any member of the board of directors or our executive management infringed the law or our articles of association
and thereby caused damages to the Company or our shareholders.

<div align='center'>24</div>

Compulsory Acquisitions; Appraisal Rights

Business combinations and
other transactions that are governed by the Swiss Merger Act (i.e. mergers, demergers, transformations and certain asset transfers) are
binding on all shareholders. A statutory merger or demerger requires approval of two-thirds of the shares represented at a general meeting
of shareholders and the absolute majority of the nominal value of the shares represented.

If a transaction under the
Swiss Merger Act receives all of the necessary consents, then there are no appraisal rights and all shareholders are compelled to participate.

Swiss corporations may be
acquired by an acquirer through the direct acquisition of the share capital of the Swiss corporation. The Swiss Merger Act provides for
the possibility of a so-called “cash-out” or “squeeze-out” merger if the acquirer controls 90% of the outstanding
shares. In these limited circumstances, minority shareholders of the corporation being acquired may be compensated in a form other than
through shares of the acquiring corporation (for instance, through cash or securities of a parent corporation of the acquiring corporation
or of another corporation). Following a statutory merger or demerger, pursuant to the Swiss Merger Act, shareholders can file an appraisal
action against the surviving company. If the consideration is deemed inadequate, the court will determine an adequate compensation payment.

In addition, under Swiss
law, the sale of “all or substantially all of our assets” (faktische Liquidation) by us may require the approval
of two-thirds of the number of shares represented at a general meeting of shareholders and the absolute majority of the nominal value
of the Common Shares represented. Whether a shareholder resolution is required depends on the particular transaction, including whether
the following test is satisfied:

| ● | a core part of our business is sold without which                                               
 it is economically impracticable or unreasonable to continue