Company: MEGL
Filing Date: 2025-06-27
Form Type: F-1/A
Source: 0001641172-25-016831
Chunk: 134

Company: Magic Empire Global Ltd
Filing Date: 2025-06-27
Form: F-1/A
Chunk 134
---
 of appraisal rights to its shareholders at least 20 days prior to the meeting.

A dissenting shareholder who desires to exercise appraisal rights must (a) not vote in favor of the merger or consolidation; and (b) continuously hold the shares of record from the date of making the demand through the effective date of the applicable merger or consolidation. Further, the dissenting shareholder must deliver a written demand for appraisal to the company before the vote is taken. The Delaware Court of Chancery will determine the fair value of the shares exclusive of any element of value arising from the accomplishment or expectation of the merger, together with interest, if any, to be paid upon the amount determined to be the fair value. In determining such fair value, the court will take into account “all relevant factors.” Unless the Delaware Court of Chancery in its discretion determines otherwise, interest from the effective date of the merger through the date of payment of the judgment will be compounded quarterly and accrue at 5% over the Federal Reserve discount rate.

| 83 |

Shareholders’ suits

There are both statutory and common law remedies available to our shareholders as a matter of BVI law. These are summarized below.

| ● | Prejudiced members: A shareholder who                                                                                                        
 considers that the affairs of a company have been, are being, or are likely to be, conducted in a manner that is, or any act or acts         
 of the company have been, or are, likely to be oppressive, unfairly discriminatory or unfairly prejudicial to him in that capacity,          
 can apply to the court under Section 184I of the BVI Act, inter alia, for an order that his shares be acquired, that he be provided          
 compensation, that the Court regulate the future conduct of the company, or that any decision of the company which contravenes the           
 BVI Act or our memorandum and articles of association be set aside. There is no similar provision under Delaware law.                        |
| ● | Derivative actions: Section 184C of                                                                                                          
 the BVI Act provides that a shareholder of a company may, with the leave of the Court, bring an action in the name of the company to         
 redress any wrong done to it. We would normally expect BVI courts to follow English case law precedents, which permit a minority shareholder 
 to commence a representative action, or derivative action in our name, to challenge (1) an act which is ultra vires or illegal, (2)          
 an act which constitutes a fraud against the