Company: WCT
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044576
Chunk: 92

Company: Wellchange Holdings Co Ltd
Filing Date: 2025-05-16
Form: 20-F
Item: Item 10
Chunk 92
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 Action by Written Consent

Under the Delaware General Corporation Act, a
corporation may eliminate the right of shareholders to act by written consent by amendment to its certificate of incorporation. Our Articles
of Association provide that shareholders may approve corporate matters by way of a unanimous written resolution signed by or on behalf
of each shareholder who would have been entitled to vote on such matter at a general meeting without a meeting being held.

Shareholder Proposals

Under the Delaware General Corporation Act, a
shareholder has the right to put any proposal before the annual meeting of shareholders, provided it complies with the notice provisions
in the governing documents. A special meeting may be called by the board of directors or any other person authorized to do so in the governing
documents, but shareholders may be precluded from calling special meetings.

The Companies Act does not provide shareholders
with rights to requisition a general meeting nor any right to put any proposal before a general meeting. However, these rights may be
provided in a company’s articles of association. Our Articles of Association allow any two or more members holding at the date of
deposit of the requisition shares which carry in aggregate not less than one-third (1/3) of all votes attaching to all issued and outstanding
shares of the Company that as at the date of the deposit carry the right to vote at general meetings of the Company to requisition a general
meeting. Other than this right to requisition a shareholders’ meeting, our Articles of Association do not provide our shareholders
with any other right to put proposals before annual general meetings or extraordinary general meetings. As an exempted Cayman Islands
company, we are not obliged by law to call shareholders’ annual general meetings.

Cumulative Voting

Under the Delaware General Corporation Act, 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. As permitted under Cayman Islands law, our 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.

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