Company: NIVFW
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001213900-25-033966
Chunk: 137

Company: NewGenIvf Group Ltd
Filing Date: 2025-04-22
Form: 20-F
Item: Item 16G
Chunk 137
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ITEM 16G. CORPORATE GOVERNANCE

Our Class A Ordinary Shares
were listed on the NASDAQ Global Market until February 27, 2025 and have then been listed on the Nasdaq Capital Market since February
28, 2025. Our Warrants are listed on the Nasdaq Capital Market. We are a foreign private issuer and a “controlled company”
as defined under the Nasdaq rules. Our Chairman of the Board and the Chief Executive Officer, Mr. Wing Fung Alfred Siu and our Director
and the Chief Marketing Officer, Ms. Hei Yue Tina Fong, who are husband and wife, jointly own more than 50% of the total voting power
of all issued and outstanding ordinary shares. For so long as we remain a foreign private issuer or a “controlled company”
under that definition, we are permitted to elect to rely, and may rely, on certain exemptions from certain corporate governance rules,
including: an exemption from the rule that a majority of the board of directors must be independent directors; an exemption from the rule
that director nominees must be selected or recommended solely by independent directors or by a nominations committee that is comprised
entirely of independent directors; an exemption from the rule that our board of directors must have a compensation committee that is comprised
solely of independent directors; an exemption from the requirement that an audit committee be comprised of at least three members; an
exemption from the requirement that an annual general meeting must be held; an exemption from the requirement that we must obtain shareholder
approval prior to a plan or other equity compensation arrangement is established or materially amended; an exemption from the requirement
to obtain shareholder approval prior to an issuance of securities in connection with certain acquisition of stock or assets of another
company; and an exemption from the requirement to obtain shareholder approval for issuing additional securities exceeding 20% of our outstanding
ordinary shares.

We currently rely on home
country practice exemption with respect to the requirement of (i) having a nominating committee composed entirely of independent directors;
(ii) having a compensation committee composed entirely of independent directors; (iii) holding an annual meeting of shareholders
no later than one year after the end of the issuer’s fiscal year-end; (iv) obtaining shareholder approval prior to a plan
or other equity compensation arrangement is established or materially amended; (v) obtaining shareholder approval prior to an issuance
of securities in connection with certain acquisition of stock or assets of another company; and (vi) obtaining shareholder approval
for issuing additional securities