Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 55

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 55
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atisfied with the conduct of our affairs.

Under the laws of the BVI, there is limited statutory
protection of minority shareholders other than the provisions of the BVI Act dealing with shareholder remedies. The principal protections
under BVI statutory law are derivative actions, actions brought by one or more shareholders for relief from unfair prejudice, oppression
and unfair discrimination and/or to enforce the BVI Act or the Amended and Restated Memorandum and Articles of Association. Shareholders
are entitled to have the affairs of the company conducted in accordance with the BVI Act and the Amended and Restated Memorandum and Articles
of Association, and are entitled to payment of the fair value of their respective shares upon dissenting from certain enumerated corporate
transactions.

There are common law rights for the protection
of shareholders that may be invoked, largely dependent on English company law, since the common law of the BVI is limited. Under the general
rule pursuant to English company law known as the rule in Foss v. Harbottle, a court will generally refuse to interfere with the management
of a company at the insistence of a minority of its shareholders who express dissatisfaction with the conduct of the company’s affairs
by the majority or the board of directors. However, every shareholder is entitled to seek to have the affairs of the company conducted
properly according to BVI law and the constitutional documents of the company. As such, if those who control the company have persistently
disregarded the requirements of the BVI law and the constitutional documents of the company, then the courts may grant relief. Generally,
the areas in which the courts will intervene are the following: (i) an act complained of which is outside the scope of the authorized
business or is illegal or not capable of ratification by the majority; (ii) acts that constitute fraud on the minority where the
wrongdoers control the company; (iii) acts that infringe or are about to infringe on the personal rights of the shareholders, such
as the right to vote; or (iv) where the company has not complied with provisions requiring approval of a special or extraordinary
majority of shareholders. This means that even if shareholders were to sue us successfully, they may not be able to recover anything to
make up for the losses suffered.

Under the laws of the BVI, the rights of minority
shareholders are protected by provisions of the BCA dealing with shareholder remedies and other remedies available under common law (in
tort or contractual remedies).