Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 197

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 16G
Chunk 197
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ITEM 16G. CORPORATE GOVERNANCE

We were incorporated in the Republic of the Marshall
Islands (“ RMI”) and our corporate governance practices are governed by applicable RMI law, our Restated Articles and bylaws.
In addition, because our Common Stock is listed on NASDAQ, we are subject to NASDAQ’s corporate governance requirements.

NASDAQ Listing Rule 5615(a)(3) permits a foreign
private issuer like us to follow home country practices in lieu of certain requirements of Listing Rule 5600, provided that such foreign
private issuer discloses in its annual report filed with the SEC each requirement of Rule 5600 that it does not follow and describes the
home country practice followed in lieu of such requirement. Our RMI counsel has provided a letter to NASDAQ indicating that we have elected
to follow home country practices in lieu of NASDAQ Listing Rule 5600 with the exception of those rules which are required to be followed
pursuant to the provisions of Nasdaq Listing Rule 5615(a)(3), and our practices with regards to these NASDAQ requirements are not prohibited
by the laws of the RMI. We currently follow our home country practice that (i) does not require us to hold an annual meeting of shareholders
no later than one year after the end of its fiscal year, (ii) does not require us to seek shareholder approval for the adoption of share
incentive plans; and (iii) does not require us to establish a compensation committee or nominating committee or nominating process. As
a result,

  in lieu of having a compensation committee under Nasdaq Listing Rule 5605(d), we currently do not have a compensation committee;  

  in lieu of selecting or recommending director nominees for selection by either a majority of the independent directors or a nominating committee comprised solely of independent directors under ...  

  in lieu of holding a shareholder meeting each year under Nasdaq Listing Rule 5620(a), we did not hold an annual shareholder meeting in fiscal 2019; however, we may, hold annual shareholder meet...  
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  in lieu of obtaining shareholder approval under Nasdaq Listing Rule 5635(c) prior to the adoption of an agreement pursuant to which stock may be acquired by officers, directors, employees or co...  
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