Company: BGHL
Filing Date: 2025-09-22
Form Type: F-1/A
Source: 0001213900-25-089787
Chunk: 124

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-09-22
Form: F-1/A
Chunk 124
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, respectively (collectively, the Employment Agreements and Director Agreements) (Mr. Chung Tat Fai and Mr. Chan Bun, are collectively referred to as the Named Directors and Officers). Pursuant to the Employment Agreements and Director Agreements, each of our executive officers will serve for a period of 1 year from the effective date of the registration statement. We may terminate the employment without cause at any time upon one month’s advance written notice or payment in lieu. Pursuant to the Employment Agreement, both Mr. Chung Tat Fai and Mr. Chan Bun will receive a commencing salary of HK$20,000 per month. Compensation of Directors and Executive Officers For the fiscal year ended December 31, 2024, we paid an aggregate of US$Nil to our directors and executive officers. We have not set aside or accrued any amount to provide pension, retirement or other similar benefits to our directors and executive officers. Insider Participation Concerning Executive Compensation Our principal shareholder, Ms. Zhang, has made all determinations regarding executive officer compensation since the inception of our Company. When our Compensation Committee is set up, it will be making all determinations regarding executive officer compensation. Election of Officers Our executive officers are appointed by, and serve at the discretion of, our board of directors. 78 Board of Directors Composition of our Board of Directors Our board of directors consists of 5 directors as at the date of this prospectus. A director is not required to hold any shares in our Company to qualify to serve as a director. The Corporate Governance Rules of the Nasdaq generally require that a majority of an issuer’s board of directors consist of independent directors. Our board of directors currently consists of 2 executive directors and 3 independent directors. Our board of directors has determined that each of Woo Kevin Lok Tin, Cheung Leung, and So Chi Kai is an “independent director” as defined under the Nasdaq rules. Our board of directors will be composed of a majority of independent directors at the effectiveness of this registration statement. Subject to the Nasdaq rules and disqualification by the chairman of the relevant board meeting, a director may vote, as a director in respect of any contract, proposed contract, arrangement, proposal or transaction notwithstanding that he may be interested therein provided such director discloses to his fellow directors the nature and extent of any material interests in respect of any contract or transaction or proposed contract or transaction and if he does so his vote shall be counted and he may be counted in the quorum at any meeting of the Directors