Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 250

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 19
Chunk 250
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 property of the director to be pledged in favor of the bank.

For the year ended September 30, 2023,
IATA has cancelled the bank guarantee requirement and the bank guarantee has been released with the principal bank of the Company.

As of September 30, 2023 and 2024, a
bank provided guarantee of niland nil, respectively, for covering the performance of obligations of the Company.

We have confirmed that as of September
30, 2023 and 2024 and as at the date of the annual report, no enforcement of bank guarantees was made by our suppliers against us. The
Company’s management is of the opinion that there are no contingencies to account for.

Commitments

As at September 30, 2024, save as disclosed
in note 6 in the consolidated financial statements, the Company did not have any significant capital and other commitments.

NOTE
15 - ORDINARY SHARES AND STRUCTURE SECTION

Globavend Holdings Limited was incorporated
under the laws of the Cayman Islands on May 22, 2023. As of September 30, 2023 and 2024, the Company was authorized to issue up to50,000,000ordinary shares,13,125,000ordinary shares and14,931,123ordinary shares were issued and outstanding at par value of $0.001per share.

On November 8, 2023, the
Company completed the initial public offering and listed its ordinary shares on the Nasdaq Capital Market under the symbol “ GVH”,
and raised approximately US$3.0million in net proceeds from the issuance of1,500,000new shares from the initial public offering after
deducting underwriting discounts, commissions and expenses.

On March 15, 2024, the Company entered into an
equity purchase agreement (the “ ELOC Purchase Agreement”) with Square Gate Capital Master Fund, LLC - Series 1, a Delaware
limited liability company (the “ Investor”), pursuant to which the Investor has committed to purchase up to $20million of
our Ordinary Shares (the “ ELOC Shares”), subject to certain limitations and conditions set forth in the ELOC Purchase Agreement.
The Company have registered for resale of the ELOC Shares, together with306,123ordinary shares (the “ Commitment Shares”)
that the Company have issued to the Investor as commitment shares under and pursuant to the ELOC Purchase Agreement.

NOTE
16 - DIVIDENDS

For the year ended September