Company: SEAH
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091701
Chunk: 14

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-09-25
Form: F-1
Chunk 14
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 by Lixuan Ke, the 100% beneficial owner of LINK POWER VENTURES LIMITED, as of the date of this prospectus. (6)Represents 1,058,850 Class A Ordinary Shares indirectly held by Nini Deng, the 100% beneficial owner of Midori Earth Holdings Limited, as of the date of this prospectus. For more details on our corporate history, please refer to “ Corporate History and Structure.” Transfers of Cash to and from Our Subsidiaries Seahawk is a holding company with no operations of its own. It conducts its operations in Japan through the Operating Entity. Seahawk may rely on dividends or payments to be paid by the Operating Entity to fund its cash and financing requirements, including for the provision of funds necessary to pay dividends and other cash distributions to our shareholders and U.S. investors, and to service any debt we may incur and to pay our operating expenses. If the Operating Entity incur debt on their own behalf in the future, the instruments governing the debt may restrict its ability to pay dividends or make other distributions to us. Seahawk is permitted under the laws of BVI to provide funding to the Operating Entity through loans or capital contributions without restrictions on the amount of the funds. The Operating Entity is also permitted under the laws of Japan to provide funding to Seahawk, through dividend distributions or payments, subject to the requirements of sufficient amount of distributable profits. There are no restrictions or limitations on our ability to distribute earnings by dividends from our subsidiaries, including the Operating Entity in Japan, to Seahawk and our shareholders and U.S. investors, provided that the entity remains solvent after such distribution. Subject to the BVI Act and our Memorandum and Articles, our board of directors may authorize and declare a dividend to shareholders at such time and of such an amount as they think fit if they are satisfied, on reasonable grounds, that immediately following the dividend payment, the value of our assets will exceed our liabilities and we will be able to pay our debts as they become due. According to the Japanese 6 Companies Act (Act No. 86 of 2005, as amended, the “Japanese Companies Act”), a Japanese company may only make a distribution out of profits available for distribution. There is no further BVI or Japanese statutory restriction on the amount of funds which may be distributed by us by dividend payments. Under the current practice of the Inland Revenue Department of Japan, no tax is generally payable in Japan in respect of dividends to non -residentsin Japan paid by us