Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 238

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 10
Chunk 238
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Pursuant to the LMV and the Mexican Corporations Law, our
by-laws include a number of minority shareholder protections. These minority protections will include provisions that permit:

  holders of at least 10% of our outstanding capital stock:  

  to request a call for a shareholders’ meeting;  

  to request that resolutions with respect to any matter on which they were not sufficiently informed be postponed; and  

  to appoint one member of our board of directors and one alternate member of our board of directors.  

  holders of 20% of our outstanding capital stock to oppose any resolution adopted at a shareholders’ meeting and file a petition                     
  for a court order to suspend the resolution temporarily, within 15 days following the adjournment of the meeting at which the action                
  was taken, provided that (i) the challenged resolution violates Mexican law or our by-laws, (ii) the opposing shareholders neither                  
  attended the meeting nor voted in favor of the challenged resolution, and (iii) the opposing shareholders deliver a bond to the court               
  to secure payment of any damages that we may suffer as a result of suspending the resolution, in the event that the court ultimately rules against  
  the opposing shareholder; and                                                                                                                       
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  holders of 5% of our outstanding capital stock may initiate a shareholder derivative suit against some or all of our directors, for      
  violations of their duty of care or duty of loyalty, for our benefit, in an amount equal to the damages or losses caused to us. Actions  
  initiated on these grounds have a five-year statute of limitations.                                                                      
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  Table of Contents  

Other Provisions

Foreign Investment Regulations

Mexico’s Foreign Investment Law restricts ownership
by non-Mexicans of our capital stock to 49% of the capital stock not otherwise represented by CPOs. Our amended by-laws establish that
only Mexican investors may acquire our Series A shares directly. Currently, we do not have any Series B shares, in the event that we were
to issue Series B shares, Non-Mexican investors may acquire our Series B shares directly. As required by Mexican law, our by-laws provide
that if a non-Mexican investor acquires a direct interest or participation in a Series A