Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 198

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 6
Chunk 198
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 private issuer,” as defined under Rule 3b-4(c) of the Exchange Act. As a result, we are exempt from some of the requirements under the Exchange Act applicable to domestic issuers, and in accordance with the rules and regulations of Nasdaq, we may choose to comply with home country governance requirements and certain exemptions thereunder rather than complying with Nasdaq corporate governance standards. We may choose to take advantage of the following exemptions afforded to foreign private issuers:

●                                    Exemption from filing quarterly reports on Form 10-Q, from filing proxy                                  
       solicitation materials on Schedule 14A or 14C in connection with annual or special meetings of shareholders, from providing current    
    reports on Form 8-K disclosing significant events within four days of their occurrence, and from the disclosure requirements of Regulation
                                                                       FD.                                                                    
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●   Exemption from Section 16 rules regarding sales of Ordinary Shares                                                                        
    by insiders, which will provide less data in this regard than shareholders of U.S. companies that are subject to the Exchange Act.        
●   Exemption from the Nasdaq rules applicable to domestic issuers requiring                                                                  
    disclosure within four business days of any determination to grant a waiver of the code of business conduct and ethics to directors       
    and officers. Although we will require board approval of any such waiver, we may choose not to disclose the waiver in the manner          
    set forth in the Nasdaq rules, as permitted by the foreign private issuer exemption.                                                      

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Furthermore, Nasdaq Rule 5615(a)(3) provides that a foreign private issuer, such as us, may rely on our home country corporate governance practices in lieu of certain of the rules in the Nasdaq Rule 5600 Series and Rule 5250(d), but we are required to comply with Nasdaq’s Notification of Noncompliance requirement (Rule 5625), the Voting Rights requirement (Rule 5640), and that we have an audit committee that satisfies Rule 5605(c)(3), consisting of committee members that meet the independence requirements of Rule 5605(c)(2)(A)(ii). If we rely on our home country corporate governance practices in lieu of certain of the rules of Nasdaq, our shareholders may not have the same protections afforded to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq. If we choose to do so, we may utilize these exemptions for as long as we continue to qualify as a foreign private issuer.
 
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