Company: TLSA
Filing Date: 2025-03-24
Form Type: F-3
Source: 0001013762-25-001691
Chunk: 23

Company: Tiziana Life Sciences Ltd
Filing Date: 2025-03-24
Form: F-3
Chunk 23
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 vote in favor of the amalgamation or merger and who is not satisfied that fair value has been offered for such shareholder’s shares may, within one month of notice of the shareholders meeting, apply to the Supreme Court of Bermuda to appraise the fair value of those shares.

Although the Companies Act does not contain specific provisions regarding “business combinations” between companies organized under the laws of Bermuda and “interested shareholders,” we have included these provisions in our bye-laws. Specifically, our bye-laws contain provisions which prohibit us from engaging in a business combination with an interested shareholder for a period of three years after the date of the transaction in which the person became an interested shareholder, unless, in addition to any other approval that may be required by applicable law:

| ● | prior                                                                                                                               
 to the date of the transaction that resulted in the shareholder becoming an interested shareholder, our board of directors approved 
 either the business combination or the transaction that resulted in the shareholder becoming an interested shareholder;             |

| ● | upon                                                                                                                                  
 consummation of the transaction that resulted in the shareholder becoming an interested shareholder, the interested shareholder owned 
 at least 85% of our issued and voting shares outstanding at the time the transaction commenced; or                                    |

| ● | after                                                                                                                                 
 the date of the transaction that resulted in the shareholder becoming an interested shareholder, the business combination is approved 
 by our board of directors and authorized at an annual or special meeting of shareholders by the affirmative vote of at least 662/3%   
 of our issued and outstanding voting shares that are not owned by the interested shareholder.                                         |

For purposes of these provisions, a “business combination” includes recapitalizations, mergers, amalgamations, consolidations, exchanges, asset sales, leases, certain issues or transfers of shares or other securities and other transactions resulting in a financial benefit to the interested shareholder. An “interested shareholder” is any person or entity that beneficially owns 15% or more of our issued and outstanding voting shares and any person or entity affiliated with or controlling or controlled by that person or entity.

Shareholder Suits

Class actions and derivative actions are generally not available to shareholders under Bermuda law. The Bermuda courts, however, would ordinarily be expected to permit a shareholder to commence an action in the name of a company to remedy a wrong to the company where the act complained of is alleged to be beyond the corporate power of the company or illegal, or would result in the violation of the company’s memorandum of association or bye-laws. Furthermore, consideration would be given