Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 641

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 4
Chunk 641
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 transactions. An affirmative vote of a majority
of the members of the audit committee present at a meeting at which a quorum is present will be required in order to approve a related
party transaction. A majority of the members of the entire audit committee will constitute a quorum. Without a meeting, the unanimous
written consent of all of the members of the audit committee will be required to approve a related party transaction. A form of the audit
committee charter that was adopted was filed as an exhibit to the registration statement in connection with our IPO. We also require
each of our directors and executive officers to complete a directors’ and officers’ questionnaire that elicits information
about related party transactions.

These
procedures are intended to determine whether any such related party transaction impairs the independence of a director or presents a
conflict of interest on the part of a director, employee or officer.

To
further minimize conflicts of interest, we have agreed not to consummate our initial business combination with an entity that is affiliated
with any of our insiders, officers or directors unless we have obtained an opinion from an independent investment banking firm and the
approval of a majority of our disinterested and independent directors (if we have any at that time) that the business combination is
fair to our unaffiliated stockholders from a financial point of view. Furthermore, no finder’s fees, reimbursements or cash payments
will be made to our sponsor, officers or directors, or our or their affiliates, for services rendered to us prior to or in connection
with the completion of our initial business combination. However, the following payments will be made to our sponsor, officers or directors,
or our or their affiliates, none of which will be made from the proceeds of this offering held in the Trust Account prior to the completion
of our initial business combination:

    ●
    repayment of an aggregate
    of up to $300,000 in loans made to us by our sponsor to cover offering-related and organizational expenses;

    ●
    reimbursement for any out-of-pocket
    expenses related to identifying, investigating and completing an initial business combination; and

    ●
    repayment of loans which
    may be made by our sponsor or an affiliate of our sponsor or certain of our officers and directors to finance transaction costs in
    connection with an intended initial business combination, the terms of which have not been determined nor have any written agreements
    been executed with respect thereto. Up to $600,000 of such working capital loans may be convertible