Company: MASK
Filing Date: 2025-01-10
Form Type: 424B4
Source: 0001213900-25-002376
Chunk: 52

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-01-10
Form: 424B4
Chunk 52
---
 director nominees must be selected or recommended solely by independent directors. As a result, you will not have the same protection afforded to shareholders of companies that are subject to these corporate governance requirements. Although we do not intend to rely on the “controlled company” exemption under the Nasdaq listing rules for at least one year after the offering, we may elect to rely on this exemption in the future. If we elect to rely on the “controlled company” exemption, a majority of the members of its board of directors might not be independent directors and its nominating and corporate governance and compensation committees might not consist entirely of independent directors. See “Risk Factor — As a “controlled company” under the rules of the Nasdaq Capital Market, we may choose to exempt our company from certain corporate governance requirements that could have an adverse effect on our public shareholders”. 20

Implications of Being a Foreign Private Issuer We are incorporated in the BVI, and more than 50% of our issued and outstanding voting securities are not directly or indirectly held by residents of the United States. Therefore, we are a “foreign private issuer,” as defined in Rule 405 under the Securities Act and Rule 3b -4(I) under the Exchange Act. As a result, we are not subject to the same requirements as U.S. domestic issuers. Under the Exchange Act, we will be subject to reporting obligations that, to some extent, are more lenient and less frequent than those of U.S. domestic reporting companies. For example: •we are not required to provide as many Exchange Act reports or provide periodic and current reports as frequently, as a domestic public company; •for interim reporting, we are permitted to comply solely with our home country requirements, which are less rigorous than the rules that apply to domestic public companies; •we are not required to provide the same level of disclosure on certain issues, such as executive compensation; •we are exempt from provisions of Regulation FD aimed at preventing issuers from making selective disclosures of material information; •we are not required to comply with the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in respect of a security registered under the Exchange Act; and •we are not required to comply with Section 16 of the Exchange Act requiring insiders to file public reports of their share ownership and trading activities and establishing insider liability for profits realized from any “short -swing” trading transaction. Our Corporate Information Our principal executive office is located at B046 of Room 801, 11 Sixing Street