Company: NTCL
Filing Date: 2025-12-29
Form Type: F-3
Source: 0001104659-25-124826
Chunk: 74

Company: NetClass Technology Inc
Filing Date: 2025-12-29
Form: F-3
Chunk 74
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 the directors shall forthwith proceed to convene a meeting of shareholders. If there are no directors as at the date
of the deposit of the shareholders’ requisition, or if the directors do not within twenty-one (21) calendar days from the date of
the deposit of the requisition duly proceed to convene a general meeting to be held within a further twenty-one (21) calendar days, the
requisitionists, or any of them representing more than one-half of the total voting rights of all of them, may themselves convene a general
meeting, but any meeting so convened shall not be held after the expiration of three calendar months after the expiration of the said
twenty-one (21) calendar days. As a Cayman Islands exempted company, we are not obligated by law to call shareholders’ annual general
meetings.

Cumulative Voting

Under the Delaware General Corporation Law, cumulative
voting for elections of directors is not permitted unless the corporation’s certificate of incorporation specifically provides for
it. Cumulative voting potentially facilitates the representation of minority shareholders on a board of directors since it permits the
minority shareholder to cast all the votes to which the shareholder is entitled on a single director, which increases the shareholder’s
voting power with respect to electing such director. There are no prohibitions in relation to cumulative voting under the laws of the
Cayman Islands, but our second amended and restated memorandum and articles of association do not provide for cumulative voting. As a
result, our shareholders are not afforded any less protections or rights on this issue than shareholders of a Delaware corporation.

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Removal of Directors

Under the Delaware General Corporation Law, a director of a corporation with a classified board may be removed only for cause with the approval of a majority of the outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. Under our second amended and restated memorandum and articles of association (which include the removal of a director by ordinary resolution), the office of a director shall be vacated if the director: (a)becomes
bankrupt or makes any arrangement or composition with his creditors; (b) dies or is found to be or becomes of unsound mind; (c) resigns
his office by notice in writing to the company; (d)without special
leave of absence from the board, is absent from meetings of the board for three consecutive meetings and the board resolves that his office
be vacated; (e) is prohibited by law from being