Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 124

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 124
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 to qualify to serve as a director. Subject to making appropriate
disclosures to the board of directors in accordance with our Memorandum and Articles, a director may vote with respect to any contract,
proposed contract, or arrangement in which he or she is interested; in voting in respect to any such matter, such director should take
into account his or her directors’ duties. A director may exercise all the powers of the company to borrow money; mortgage its
business, property, and uncalled capital; and issue debentures or other securities whenever money is borrowed or as security for any
obligation of the Company or of any third party.

Board Diversity

We seek to achieve
board diversity through the consideration of a number of factors when selecting the candidates to our board, including, but not limited
to, gender, skills, age, professional experience, knowledge, cultural, education background, ethnicity, and length of service. The ultimate
decision of the appointment will be based on merit and the contribution that the selected candidates will bring to our board.

Our directors have
a balanced mix of knowledge and skills. We will have three independent directors with different industry backgrounds, representing a
majority of the members of our board. Our board is well balanced and diversified in alignment with our business development and strategy.

Committees of the Board of Directors

We have established
an audit committee, a compensation committee, and a nominating and corporate governance committee under the board of directors. We have
adopted a charter for each of the three committees upon the establishment of the committees. Each committee’s members and functions
are described below.

Audit Committee

Our audit committee
consists of Ms. Leng, Mr. Shin, and Mr. Cheung, and is chaired by Ms. Leng. We have determined that each of these three director nominees
satisfies the “independence” requirements of the Nasdaq Listing Rules and meets the independence standards under Rule 10A-3
under the Exchange Act. We have determined that Ms. Leng qualifies as an “audit committee financial expert.” The audit committee
will oversee our accounting and financial reporting processes and the audits of our financial statements. The audit committee will be
responsible for, among other things:

  selecting the independent registered public accounting firm and pre-approving                                           

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  reviewing with the independent registered public accounting firm any                                                
  reviewing and approving all proposed related party transactions, as                                                 
  discussing the annual aud