Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 18

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 18
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 of NLS to approve the Merger Agreement, the
transactions contemplated thereby and related matters at a special meeting of NLS’s shareholders, (ii) deliver the merger proposal
to the Swiss companies registrar within three (3) days from the calling of the NLS shareholders’ meeting, and (iii) cause a copy
of the merger proposal to be delivered to NLS’s secured creditors, if any, no later than three (3) days after the date on which
the merger proposal is delivered to the Swiss companies registrar. The Proxy Statement (as defined in the Merger Agreement) shall form
a part of a prospectus of NLS relating to the registration under the Securities Act of the Common Shares to be issued as the Merger Consideration.
Pursuant to the terms of the Merger Agreement, following the execution and delivery of the Merger Agreement, and in accordance with applicable
Nasdaq rules and Swiss law, NLS is required to hold a shareholder meeting in order to, among other things, approve the items set forth
herein. In the event the required vote by NLS shareholders is not obtained at a meeting of NLS shareholders, NLS shall continue to call
and hold special meetings of its shareholders at least once every 45 days thereafter, beginning with the quarter ending December 31,
2024, to seek the required NLS shareholder vote until such vote is obtained.

<div align='center'>7</div>

In connection with the Closing, as of the Effective Time, NLS’s officers (other than Mr. Konofal who shall remain in a part-time position with NLS) and NLS Board will resign and it is anticipated that Kadimastem’s executive officers and members of the Board of Directors of Kadimastem will become NLS’s executive officers and members of the NLS Board; provided, however, that Mr. Alexander Zwyer shall remain as a member of the NLS Board and, from the date of the Closing until the date that is one year after the date of the Closing, the combined company shall not take any action to remove, or recommend the removal of Mr. Zwyer from the combined company’s board of directors without cause, and shall nominate for election and continue to recommend to its shareholders that Mr. Zwyer be elected to serve as a director of the combined company. As a condition to his continued service and re-appointment, Mr. Zwyer shall tender an irrevocable resignation letter effective upon the lapse