Company: OTSA
Filing Date: 2025-07-16
Form Type: F-1/A
Source: 0001213900-25-064434
Chunk: 186

Company: OTSAW Ltd
Filing Date: 2025-07-16
Form: F-1/A
Chunk 186
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 written notice, as applicable). These agreements have since been terminated on 31 December 2022 and the existing customer services and maintenance contracts acquired by the Otsaw -SwisslogJV under the Master Asset Sale Agreement have been novated to the Otsaw -SwisslogJV. However, we have not novated the contracts with our customers in Italy, which mainly comprises Italian hospitals. We have instead appointed Swisslog Healthcare ltaly S.P.A. SU as our agent, given the stringent local qualifications and experience required for a company to serve Italian hospitals. The Otsaw -SwisslogJV is therefore responsible for fulfilling the obligations under the existing customer services and maintenance contracts except in Italy, where Swisslog Healthcare Italy S.P.A. SU handles these responsibilities. Management of the Otsaw-Swisslog JV The Otsaw -SwisslogJV is managed by a board of directors (the “JV Board”). All decisions are made by a majority vote of the members of the JV Board. The chairman of the JV Board will be Mr. Ling Ting Ming or any other director appointed by Otsaw Technology. If the chairman is not able to fulfill his duties as chairman at any meeting of the JV Board, the chairman of that meeting shall be any director appointed by Otsaw. In the event of an equality of votes, the chairman shall have a casting vote. Swisslog Healthcare and Otsaw Technology shall each be entitled to appoint up to the number of directors as set out below:

| Shareholder         |     | No. of directors (for so 
 long as Otsaw Technology 
  and Swisslog Healthcare 
 respectively hold Shares 
 representing 60% and 40% 
         of the shares of 
        Otsaw-Swisslog JV |     | No. of directors (for so 
 long as Otsaw Technology 
  and Swisslog Healthcare 
 respectively hold Shares 
 representing 86.665% and 
 13.335% of the shares of 
        Otsaw-Swisslog JV |     | No. of directors (for so 
 long as Otsaw Technology 
  and Swisslog Healthcare 
 respectively hold Shares 
  representing 93.33% and 
   6.67% of the shares of 
        Otsaw-Swisslog JV |
| Otsaw Technology    |     |                        2 |     |                        2 |     |                        3 |
| Swisslog Healthcare |     |                        1 |