Company: KMRK
Filing Date: 2025-01-02
Form Type: DRS
Source: 0001213900-25-000267
Chunk: 18

Company: K-TECH SOLUTIONS CO LTD
Filing Date: 2025-01-02
Form: DRS
Chunk 18
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 Controlling Shareholders hold a majority of the voting power of KTech and we will be a controlled company under the Nasdaq Capital Market corporate governance rules. For more details, see “ Corporate History and Structure.” Transfers of Cash to and from Our Subsidiary On March31, 2023, KMT paid a dividend of HK$1,500,000 (equivalent to approximately US$191,352) to the Controlling Shareholder. We may declare or pay dividends in the foreseeable future. Any future determination related to our dividend policy will be made at the discretion of our board of directors (the “Board”) after considering our financial condition, results of operations, capital requirements, contractual requirements, business prospects and other factors the Board deems relevant, and subject to the restrictions contained in any future financing instruments. We are permitted under the laws of BVI to provide funding to our operating subsidiary in Hong Kong through loans and/or capital contributions without restriction on the amount of the funds loaned or contributed. BVI.Subject to the BCA and our Memorandum and Articles of Association, our Board may authorize and declare a dividend to shareholders at such time and in such amount as they think fit if they are satisfied, on reasonable grounds, that immediately following the dividend the value of our assets will exceed our liabilities and we will be able to pay our debts as they become due. There is no further BVI statutory restriction on the amount of funds which may be distributed by us as dividends. Hong Kong.Under Hong Kong law, a Hong Kong company may only make a distribution out of profits available for distribution. There are no restrictions or limitations under the laws of Hong Kong imposed on the conversion of HK dollars into foreign currencies and the remittance of currencies out of Hong Kong, nor is there any restriction on 3 foreign exchange to transfer cash between the Company and its subsidiary, across borders and to U.S. investors, nor are there any restrictions or limitations on distributing earnings from our business and subsidiary to the Company and U.S. investors. For more information, see “ Dividend Policy,” “ Risk Factors” and “ Summary Consolidated Financial Data” and “Consolidated Statements of Shareholders’ Equity” in the audited financial statements as of and for the years ended March 31, 2024 and 2023 contained in this prospectus. Permission Required from Hong Kong Authorities Hong Kong is a special administrative region of the PRC, having its own governmental and legal system that is separate from mainland China and, as a result,