Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 136

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 6
Chunk 136
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 explain the remuneration of our people and present proposals for general increases and bonuses, they are not members of this committee and therefore have no vote.

This committee is also charged with evaluating individual director performance, the performance of the sub-committees and the board as a whole, which is done on an annual basis.

Duties of Directors and attendance of meetings

Under Singapore law, members of the board of directors of a Singapore company owe certain fiduciary duties towards the company, including a duty to act in good faith in the best interests of the company, a duty to act honestly and to use reasonable diligence in the discharge of the duties of their office. Directors generally owe fiduciary duties to the company, and not to the company’s individual shareholders. Our shareholders may not have a direct cause of action against our directors. The company has a right to seek damages if a duty owed by directors is breached.

The directors have, without exception, attended all board meetings held during the reporting period.

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Foreign Private Issuer and Controlled Company Exemptions

In general, under the Nasdaq corporate governance standards, foreign private issuers, as defined by the rules adopted under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), are permitted to follow home country corporate governance practices instead of the corporate governance practices of the Nasdaq. Accordingly, we follow certain corporate governance practices of our home country, Singapore, in lieu of certain of the corporate governance requirements of the Nasdaq in respect of the following:

●                                          the requirement under Section 5605(e)(2) of Nasdaq listing                                       
    rules that companies must adopt a formal written charter or board resolution, as applicable, addressing the nominations process and such
                                   related matters as may be required under the U.S. federal securities laws;                               
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●                                       the requirement under Section 5605(d) of Nasdaq listing rules                                     
    that a compensation committee comprised solely of independent directors governed by a compensation committee charter oversee executive
                                                                compensation;                                                             
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●                                the requirement under Section 5605(b)(2) of Nasdaq listing                            
    rules that the independent directors have regularly scheduled meetings with only the independent directors present;
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●                                 the requirement under Section 5605(c) of Nasdaq listing rules                              
    that a quorum must consist of at least 331⁄3 percent of the outstanding shares of a listed company’s common voting stock;
                                                               and                                                           
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●                                         the requirement