Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 56

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 3
Chunk 56
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 may not be sufficient to satisfy our obligations as a public
company, which could subject us to delisting of our common shares, fines, sanctions and other regulatory action and potentially civil
litigation.

After we are no longer an
EGC, we expect to incur significant expenses and devote substantial management efforts toward ensuring compliance with the requirements
of Section 404 of the Sarbanes-Oxley Act and the other rules and regulations of the SEC.

Risks Related to Swiss Law and Our Operations
in Switzerland

We are a Swiss corporation. The rights of
our shareholders may be different from the rights of shareholders in companies governed by the laws of U. S. jurisdictions.

We are a Swiss
corporation. Our corporate affairs are governed by our amended articles of association and by the laws governing companies,
including listed companies, incorporated in Switzerland. The rights of our shareholders and the responsibilities of members of our
board of directors may be different from the rights and obligations of shareholders and directors of companies governed by the laws
of U. S. jurisdictions. In the performance of its duties, our board of directors is required by Swiss law to consider the interests
of our Company, our shareholders, our employees and other stakeholders, in all cases with due observation of the principles of
reasonableness and fairness. It is possible that some of these parties will have interests that are different from, or in addition
to, your interests as a shareholder. Swiss corporate law limits the ability of our shareholders to challenge resolutions made or
other actions taken by our board of directors in court. Our shareholders generally are not permitted to file a suit to reverse a
decision or an action taken by our board of directors but are instead only permitted to seek damages for breaches of fiduciary duty.
However, if a board resolution has been invalidly formed, anyone, including the shareholders, may claim that such an invalid
resolution shall be declared null and void. As a matter of Swiss law, shareholder claims against a member of our board of directors
for breach of fiduciary duty would have to be brought to the competent court at the legal seat of the Company, or where the relevant
member of our board of directors is domiciled. In addition, under Swiss law, any claims by our shareholders against us must be
brought to the competent court at the legal seat of the Company.

Our common shares are issued under the laws
of Switzerland, which may not protect investors in a similar fashion afforded by incorporation in a U. S. state.