Company: FUFU
Filing Date: 2025-11-07
Form Type: F-3
Source: 0001213900-25-107483
Chunk: 24

Company: Bitfufu Inc.
Filing Date: 2025-11-07
Form: F-3
Chunk 24
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 subsidiary to be merged unless that member agrees
otherwise. For this purpose, a company is a “parent” of a subsidiary if it holds issued shares that together represent at
least ninety percent (90%) of the votes at a general meeting of the subsidiary.

The consent of each holder
of a fixed or floating security interest over a constituent company is required unless this requirement is waived by a court in the Cayman
Islands.

Save in certain limited
circumstances, a shareholder of a Cayman constituent company who dissents from the merger or consolidation is entitled to payment of
the fair value of his shares (which, if not agreed between the parties, will be determined by the Cayman Islands court) upon dissenting
to the merger or consolidation; provided that the dissenting shareholder complies strictly with the procedures set out in the Companies
Act. The exercise of dissenter rights will preclude the exercise by the dissenting shareholder of any other rights to which he or she
might otherwise be entitled by virtue of holding shares, save for the right to seek relief on the grounds that the merger or consolidation
is void or unlawful.

Separate from the statutory
provisions relating to mergers and consolidations, the Companies Act also contains statutory provisions that facilitate the reconstruction
and amalgamation of companies by way of schemes of arrangement; provided that the arrangement is 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-fourths 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 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