Company: NCEL
Filing Date: 2025-10-24
Form Type: POS AM
Source: 0001213900-25-102149
Chunk: 55

Company: NewcelX Ltd.
Filing Date: 2025-10-24
Form: POS AM
Chunk 55
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 trade or business in Switzerland through a permanent establishment or fixed place of business situated, for tax
purposes, in Switzerland, are not subject to wealth or annual capital tax in Switzerland because of the mere holding of the Common Shares
or Preferred Shares and/or Warrants.

Capital Gains on Disposal of Common Shares or Preferred Shares or Warrants

Swiss resident
individuals who sell or otherwise dispose of the Common Shares or Preferred Shares or Warrants realize a tax-free capital gain, or a
non-tax deductible capital loss, as the case may be, provided that they hold the Common Shares or Preferred Shares, as part of their
private assets. Under certain circumstances, the sale proceeds may be requalified into taxable income (e.g., if the taxpayer is
deemed to be a professional securities dealer). Capital gains realized on the sale of the Common Shares or Preferred Shares or
Warrants held by Swiss resident individuals, as well as non-Swiss resident individuals and corporate taxpayers holding the Common
Shares or Preferred Shares or Warrants in connection with the conduct of a trade or business in Switzerland through a permanent
establishment or fixed place of business situated, for tax purposes, in Switzerland, will be subject to Swiss federal, cantonal and
communal individual tax, as the case may be. This also applies to Swiss resident individuals who, for individual income tax
purposes, are deemed to be professional securities dealers for reasons of, inter alia, frequent dealing and debt-financed purchases.
Capital gains realized by resident individuals who hold the Common Shares as business assets might be entitled to reductions or
partial taxations similar to those mentioned above for dividends (Teilbesteuerung) if certain conditions are met (e.g., holding
period of at least one year and participation of at least 10% of nominal share capital of the Company).

Swiss resident corporate taxpayers
as well as non-Swiss resident corporate taxpayers holding the Common Shares or Preferred Shares or Warrants in connection with the conduct
of a trade or business, through a permanent establishment or fixed place of business situated, for tax purposes, in Switzerland, are required
to recognize such capital gain in their income statements for the relevant tax period. Corporate taxpayers may qualify for participation
relief on capital gains (Beteiligungsabzug), if the Common Shares sold during the tax period represent at least 10% of the Company’s
share capital or if the Common Shares sold give entitlement to at least 10% of the Company’s profits and