Company: VSA
Filing Date: 2025-11-13
Form Type: 424B5
Source: 0001213900-25-109735
Chunk: 145

Company: VisionSys AI Inc
Filing Date: 2025-11-13
Form: 424B5
Chunk 145
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 In addition, the office of any director shall be
vacated if the director (i) becomes bankrupt or makes any arrangement or composition with his creditors, (ii) dies or is found
to be or becomes of unsound mind, (iii) resigns his office by notice in writing to our company, or (iv) without special leave
of absence from our board, is absent from three consecutive board meetings and our board resolves that his office be vacated.

Transactions with Interested Shareholders. The
Delaware General Corporation Law contains a business combination statute applicable to Delaware public corporations whereby, unless the
corporation has specifically elected not to be governed by such statute by amendment to its certificate of incorporation or bylaws that
is approved by its shareholders, it is prohibited from engaging in certain business combinations with an “interested shareholder”
for three years following the date that such person becomes an interested shareholder. An interested shareholder generally is a person
or a group who or which owns or owned 15% or more of the target’s outstanding voting stock or who or which is an affiliate or associate
of the corporation and owned 15% or more of the corporation’s outstanding voting stock within the past three years. This has
the effect of limiting the ability of a potential acquirer to make a two-tiered bid for the target in which all shareholders would not
be treated equally. The statute does not apply if, among other things, prior to the date on which such shareholder becomes an interested
shareholder, the board of directors approves either the business combination or the transaction which resulted in the person becoming
an interested shareholder. This encourages any potential acquirer of a Delaware corporation to negotiate the terms of any acquisition
transaction with the target’s board of directors.

Cayman Islands law has no comparable statute. As
a result, we cannot avail ourselves of the types of protections afforded by the Delaware business combination statute. However, although
Cayman Islands law does not regulate transactions between a company and its significant shareholders, it does provide that such transactions
must be entered into bona fide in the best interests of the company and for a proper corporate purpose and not with the effect of constituting
a fraud on the minority shareholders.

Dissolution; Winding Up. Under
the Delaware General Corporation Law, unless the board of directors approves the proposal to dissolve, dissolution must be approved by
shareholders holding 100% of the total voting power of the corporation. Only if the dissolution is initiated by the board of directors