Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 263

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 19
Chunk 263
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 number of shares each with a par value of US$0.000625divided into (i) an unlimited number of Class A Ordinary Shares and (ii)
an unlimited number of Class B Ordinary Shares.

F-24

Share reserved for issuance

On February 26, 2025, the
Group had reserved an aggregate of3,602,500Class A Ordinary Shares for issuance under its Employee Share Ownership Plan (“ ESOP”),
which is designed to attract, retain and incentivize employees through equity-based compensation. Class A Ordinary Shares issued upon
exercise or vesting of such awards rank pari passu with all other outstanding Class A Ordinary Shares, including voting and dividend rights.
The plan is administered by the Compensation Committee, and all grants are subject to vesting conditions and other terms set forth in
the 2025 Stock Incentive Plan.  During the year ended June 30, 2025, no Class A Ordinary Shares were granted, vested, or exercised
by employees, directors, or consultants under 2025 Stock Incentive Plan.

Reverse shares split

On September 8, 2025, the
Group has been unanimously approved a consolidation of all issued and unissued ordinary shares at a ratio of ten (10) shares to one (1)
share of the same class (the “ Share Consolidation”) and the Share Consolidation was effective. The Share Consolidation applied
to both Class A and Class B ordinary shares, with the par value per share increasing from US$0.000625to US$0.00625following the consolidation.
The Share Consolidation reduced the number of outstanding ordinary shares of the Group from21,615,000to approximately2,161,500. No
fractional shares were issued in connection with the Share Consolidation. Instead, the Group issued one full post-Share Consolidation
ordinary share to any shareholder at a participant level who would have been entitled to receive a fractional share as a result of the
process. The Group issued an aggregate of15full post-Share Consolidation ordinary shares pursuant to this arrangement.

The above-mentioned reverse share split of both Class A and Class B ordinary shares have been accounted for on a retroactive basis and
reflected in the comparative financial information presented in these consolidated financial statements.

Dividends

The Group declared dividends
of nil, HKD9,384,000and HKD13,825,353and paid HKD5,865,364(US$747,190), HKD