Company: GDHLF
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001410578-25-000935
Chunk: 137

Company: GDS Holdings Ltd
Filing Date: 2025-04-28
Form: 20-F
Item: Item 3
Chunk 137
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 board of directors decides to issue preferred shares, the price of our ADSs and/or ordinary shares may fall and the voting and other rights of the holders of our ADSs and/or ordinary shares may be materially and adversely affected. In addition, our Articles of Association contain other provisions that could limit the ability of third parties to acquire control of our company or cause us to engage in a transaction resulting in a change of control, as defined in our Articles of Association, including: a provision that entitles Class B ordinary shares to 20 votes per share at general meetings of our shareholders with respect to the election or removal of a simple majority of our directors; a provision that entitles Class B shareholders to nominate five of our directors; a provision that allows one of our principal shareholders to appoint up to three directors to our board of directors for so long as they beneficially own certain percentages of our issued share capital; and a classified board with staggered terms for our directors, which will prevent the replacement of a majority of directors at one time.

These provisions could have the effect of depriving our shareholders of an opportunity to sell their shares at a premium over prevailing market prices by discouraging third parties from seeking to obtain control of our company in a tender offer or similar transaction.

Table of Contents

We are a foreign private issuer within the meaning of the rules under the U. S. Exchange Act, and as such we are exempt from certain provisions applicable to U. S. domestic public companies.

Because we qualify as a foreign private issuer under the U. S. Exchange Act, we are exempt from certain provisions of the securities rules and regulations in the United States that are applicable to U. S. domestic issuers, including:

  the rules under the U. S. Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q or current reports on Form 8-K;  
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  the sections of the U. S. Exchange Act regulating the solicitation of proxies, consents, or authorizations in respect of a security registered under the U. S. Exchange Act;  

  the sections of the U. S. Exchange Act requiring insiders to file public reports of their stock ownership and trading activities and liability for insiders who profit from trades made in a shor...  

  the selective disclosure rules by issuers of material nonpublic information under Regulation Fair Disclosure.  

We are required to file an annual report on Form 20-F