Company: CNTB
Filing Date: 2025-06-10
Form Type: F-3
Source: 0001193125-25-138482
Chunk: 26

Company: Connect Biopharma Holdings Ltd
Filing Date: 2025-06-10
Form: F-3
Chunk 26
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 (or any class of them), provided that the arrangement is approved by (a) 75% in value of the shareholders or class of shareholders, as the case may be, or (b) a majority in number representing 75% in value of the creditors or class of creditors, as the case may be, with whom the arrangement is to be made, that are, in each case, present and voting either in person or by proxy at a meeting, or meetings, convened for that purpose. The convening of the meetings and subsequently the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder has the right to express to the court the view that the transaction ought not to be approved, the court can be expected to approve the arrangement if it determines that:

| • |     | the statutory provisions as to the required majority vote have been met; |

| • |     | the shareholders have been fairly represented at the meeting in question and the statutory majority are acting 
 bona fide without coercion of the minority to promote interests adverse to those of the class;                 |

| • |     | the arrangement is such that may be reasonably approved by an intelligent and honest man of that class acting 
 in respect of his interest; and                                                                               |

| • |     | the arrangement is not one that would more properly be sanctioned under some other provision of the Companies 
 Act.                                                                                                          |

The Companies Act also contains a statutory power of compulsory acquisition which may facilitate the “squeeze out” of dissentient minority shareholders upon a tender offer. When a tender offer is made and accepted by holders of 90.0% of the shares affected within four months, the offeror may, within a two-monthperiod commencing on the expiration of such four-month period, require the holders of the remaining shares to transfer such shares to the offeror 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 in the case of an offer which has been so approved unless there is evidence of fraud, bad faith or collusion. If an arrangement and reconstruction by way of scheme of arrangement is thus approved and sanctioned, or if a tender offer is made and accepted in accordance with the foregoing statutory procedures, a dissenting shareholder would have no rights comparable to appraisal rights, which would otherwise ordinarily be available to dissenting shareholders of Delaware corporations, providing rights to receive payment in cash for the judicially determined value of the shares. Shareholders’ Suits In principle