Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 223

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 9
Chunk 223
---
 which allow for the sale and purchase
of shares (including any tag-along, drag-along and put or call rights), voting rights, and sale of shares in a public offering, must be
notified to the company within five business days following their execution, to allow the company to disclose such agreements to the investors
through the stock exchanges on which its securities are traded and to be made public in an annual report prepared by the company. These
agreements (i) will be available for the public to review at the company’s offices, (ii) will not be enforceable against the company
and a breach of such agreements will not affect the validity of the vote at a shareholders’ meeting, and (iii) will only be effective
among the relevant parties once they have been disclosed to the public.

Miscellaneous

The LMV also specifies that any transaction or series of transactions
that, during any fiscal year, represent 20% or more of the consolidated assets of a public company, must be considered and approved by
a meeting of shareholders.

  131  

  Table of Contents  

In addition to the right granted to minority shareholders
of a public company representing 5% or more of the outstanding shares to initiate a shareholder derivative suit against directors for
a breach of the duty of care or the duty of loyalty, the LMV recognizes the right of shareholders representing 10% or more of the outstanding
shares to appoint a director and call a shareholders’ meeting and request that vote on resolutions in respect of which they were
not sufficiently informed be postponed. Holders of 20% or more of the outstanding voting shares may judicially oppose resolutions that
were passed by a shareholders’ meeting and file a petition for a court order to suspend the resolution, if the claim is filed 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 the company’s by-laws, (ii) the opposing stockholders either did not attend the meeting or voted against the challenged resolution,
and (iii) the opposing stockholders deliver a bond to the court to secure payment of any damages that the company may suffer as a result
of suspending the resolution in the event that the court ultimately rules against the opposing stockholder; these provisions have seldom
been invoked in Mexico and, as a result, any action that may be taken by a competent court is uncertain.

The New York Stock Market

NYSE traces its origins to 179