Company: LICN
Filing Date: 2025-01-29
Form Type: 424B5
Source: 0001213900-25-007741
Chunk: 153

Company: Lichen International Ltd
Filing Date: 2025-01-29
Form: 424B5
Chunk 153
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 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.

The Cayman Islands Companies Act provides that
shareholders of companies incorporated in Cayman Islands have rights of dissent and appraisal and are entitled to be paid the fair value
of their shares upon dissenting to a merger or consolidation.

A company that has received any notice of dissent
must, within specified time periods, make a written offer to each dissenting shareholder to purchase its shares at a price that the company
determines to be the fair value, and if agreed by the shareholder, monies must be paid to the dissenting shareholder within thirty days
of the offer being made. If no price is agreed upon, the company must file a petition with the Grand Court of the Cayman Islands for a
determination of the fair value of the shares of all dissenting shareholders and any dissenting shareholders is permitted to be involved
in those proceedings.

If the arrangement and reconstruction is thus
sanctioned by the Grand Court of the Cayman Islands, the dissenting shareholder would have no rights comparable to appraisal rights, which
would otherwise ordinarily be available to dissenting shareholders of Delaware corporations, providing rights to receive payment in cash
for the judicially determined value of the shares.

The Cayman Islands Companies Act also contains
a statutory power of compulsory acquisition which may facilitate the “squeeze out” of dissentient minority shareholders upon
a tender offer. When a tender offer is made and accepted by holders of not less than 90% of the shares which are subject to the offer
within four months, the offeror may, within a two-month period commencing on the expiration of such four-month period, require the holders
of the remaining shares to transfer such shares on the terms of the offer. An objection can be made to the Grand Court of the Cayman Islands.

<div align='center'>37</div>

Shareholders’ Suits and Protection of Minority Shareholders

In principle, we will normally be the proper plaintiff
to sue for a wrong done to us as a company and as a general rule a derivative action may not