Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 121

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 121
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, our board of directors considers whether the terms are on an arm’s -lengthbasis, fair to the Group, and in the best interests of the Group and its shareholders. Upon the establishment of our audit committee in connection with our listing, the audit committee will implement formal policies and procedures for its review and approval of related party transactions. 95 DESCRIPTION OF SHARES We were incorporated as a BVI business company limited by shares under the laws of the BVI on February 27, 2025. As of the date of incorporation of the Company, it was authorized to issue 50,000 ordinary shares, $1.00 par value per share. The Memorandum and Articles were amended by way of resolution of the directors of the Company dated June27, 2025 following which the Company is now authorized to issue 42,500 Class A Ordinary Shares of $1.00 par value per share and 7,500 Class B Ordinary Shares of $1.00 par value per share. As of the date of this prospectus, there were 8,500 Class A Ordinary Shares and 1,500 Class B Ordinary Shares issued and outstanding. It is proposed that the Company amend its memorandum and articles of association to allow for an unlimited number of Class A Ordinary Shares and Class B Ordinary Shares, of US$1.00 par value each to be issued. Ordinary Shares General All of our issued shares are fully paid and non -assessable. Shares are issued in registered form. There are no limitations imposed by our Memorandum and Articles on the rights of non -residentor foreign shareholders to hold or exercise voting rights on our shares. In addition, there are no provisions in our Memorandum and Articles governing the ownership threshold above which shareholder ownership must be disclosed. Under the BVI Act, the ordinary shares are deemed to be issued when the name of the shareholder is entered in our register of members. If (a) information that is required to be entered in the register of members is omitted from the register or is inaccurately entered in the register, or (b) there is unreasonable delay in entering information in the register, a shareholder of the Company, or any person who is aggrieved by the omission, inaccuracy or delay, may apply to the BVI Courts for an order that the register be rectified, and the court may either refuse the application or order the rectification of the register, and may direct the Company to pay all costs of the application and any damages the applicant may have sustained. Dividends The holders of