Company: TOP
Filing Date: 2025-08-13
Form Type: 20-F
Source: 0001213900-25-075728
Chunk: 58

Company: TOP Financial Group Ltd
Filing Date: 2025-08-13
Form: 20-F
Item: Item 10
Chunk 58
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 think fit, but so
that no shareholder will be compelled to accept any shares or other securities upon which there is a liability.

Calls on Ordinary Shares and forfeiture
of Ordinary Shares

Our board of directors may from time to time make
calls upon shareholders for any amounts unpaid on their Ordinary Shares in a notice served to such shareholders at least one month prior
to the specified time of payment. The Ordinary Shares that have been called upon and remain unpaid are subject to forfeiture.

Redemption, Repurchase and Surrender of
Ordinary Shares

Subject to the provisions of our amended and restated
memorandum and articles of association, we may issue shares on terms that such shares are subject to redemption, at our option, on such
terms and in such manner as may be determined, before the issue of such shares, by our board of directors or by a special resolution of
our shareholders. The Companies Act and our amended and restated memorandum and articles of association permits us to purchase our
own shares, subject to certain restrictions and requirements. Subject to the Companies Act, our amended and restated memorandum and articles
of association and to any applicable requirements imposed from time to time by the Nasdaq, the U. S. Securities and Exchange Commission,
or by any other recognized stock exchange on which our securities are listed, we may purchase our own shares (including any redeemable
shares) on such terms and in such manner as been approved by the directors or by an ordinary resolution of our shareholders. Under the
Companies Act, the repurchase of any share may be paid out of our Company’s profits, or out of the share premium account, or out
of the proceeds of a fresh issue of shares made for the purpose of such repurchase, or out of capital. If the repurchase proceeds are
paid out of our Company’s capital, our Company must, immediately following such payment, be able to pay its debts as they fall due
in the ordinary course of business. In addition, under the Companies Act, no such share may be repurchased (1) unless it is fully paid
up, and (2) if such repurchase would result in there being no shares outstanding other than shares held as treasury shares. The repurchase
of shares may be effected in such manner and upon such terms as may be authorized by or pursuant to the Company’s articles of association.
If the articles do not authorize the manner and terms of the purchase, a company shall not repurchase any of its own shares unless the
manner