Company: HVIIR
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002259
Chunk: 221

Company: Hennessy Capital Investment Corp. VII
Filing Date: 2025-01-15
Form: S-1/A
Chunk 221
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 arrangement in question must be approved by a majority in number of each class of shareholders and creditors with whom the arrangement is to be made and who must in addition represent three-fourth in value of each such class of shareholders or creditors, as the case may be, that are present and voting either in person or by proxy at a general meeting, or general meeting summoned for that purpose. The convening of the meetings and subsequently the terms of the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder would have the right to express to the court the view that the transaction should not be approved, the court can be expected to approve the arrangement if it satisfies itself that:

| ● | we                                                                                        
 are not proposing to act illegally or beyond the scope of our corporate authority and the 
 statutory provisions as to majority vote have been complied with;                         |

| ● | the                                                                                           
 shareholders have been fairly represented at the general meeting in question; the arrangement 
 is such as a businessman would reasonably approve; and                                        |

| ● | the                                                                                      
 arrangement is not one that would more properly be sanctioned under some other provision 
 of the Companies Act or that would amount to a “fraud on the minority.”                  |

If a scheme of arrangement or takeover offer (as described below) is approved, any dissenting shareholder would have no rights comparable to appraisal rights (providing rights to receive payment in cash for the judicially determined value of the shares), which would otherwise ordinarily be available to dissenting shareholders of United States corporations.

Squeeze-out Provisions.When a tender offer is made and accepted by holders of 90% of the shares to whom the offer relates within four months, the offer or may, within a two-month period, require the holders of the remaining shares to transfer such shares on the terms of the offer. An objection can be made to the Grand Court of the Cayman Islands, but this is unlikely to succeed unless there is evidence of fraud, bad faith, collusion or inequitable treatment of the shareholders.

Further, transactions similar to a merger, reconstruction and/or an amalgamation may in some circumstances be achieved through means other than these statutory provisions, such as a share capital exchange, asset acquisition or control, or through contractual arrangements of an operating business.

Shareholders’ Suits.Appleby (Cayman) Ltd., our Cayman Islands legal counsel, is not aware of any reported class action having been brought in a Cayman Islands court. Derivative actions have been brought in the Cay