Company: GVH
Filing Date: 2025-05-23
Form Type: F-1
Source: 0001213900-25-046965
Chunk: 36

Company: Globavend Holdings Ltd
Filing Date: 2025-05-23
Form: F-1
Chunk 36
---
 otherwise fail to facilitate the PCAOB’s access in the future, the PCAOB Board will consider the need to issue a new determination. On December 29, 2022, the CAA was signed into law by President Biden. The CAA contained, among other things, an identical provision to the AHFCAA, which reduces the number of consecutive non -inspectionyears required for triggering the prohibitions under the HFCA Act from three years to two. Implications of Being a Controlled Company We are a “controlled company” as defined under the Nasdaq Stock Market Rules because, as of the date of this prospectus, our Controlling Shareholder owns approximately 76.4% of our total issued and outstanding Shares, representing approximately 76.4% of the total voting power. As a result, we may rely on exemptions from certain corporate governance requirements that provide protection to shareholders of other companies. For so long as we are a controlled company under that definition, we are permitted to elect to rely, and may rely, on certain exemptions from corporate governance rules, including: •an exemption from the rule that a majority of our board of directors must be independent directors; •an exemption from the rule that the compensation of our chief executive officer must be determined or recommended solely by independent directors; and •an exemption from the rule that our director nominees must be selected or recommended solely by independent directors. As a result, you will not have the same protection afforded to shareholders of companies that are subject to these corporate governance requirements. Although we do not intend to rely on the “controlled company” exemption under the Nasdaq listing rules, we could elect to rely on this exemption. If we elected to rely on the “controlled company” exemption, a majority of the members of our board of directors might not be independent directors and our nominating and corporate governance and compensation committees might not consist entirely of independent directors. See “ Risk Factors — Risks Related to Our Ordinary Shares and This Offering — As a “controlled company” under the rules of Nasdaq, we may choose to exempt our Company from certain corporate governance requirements that could have an adverse effect on our public shareholders.” Implications of Being an Emerging Growth Company and a Foreign Private Issuer As a company with less than US$1.235 billion in revenue during our last fiscal year, we qualify as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act (the “JOBS Act”), enacted in April 2012, and may take advantage of reduced reporting requirements that