Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 55

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 3
Chunk 55
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territorial application, as well as our constitution.
In particular, we are required to comply with certain provisions of the Securities and Futures Act, Chapter 289 of Singapore, which prohibit
certain forms of market conduct and information disclosures, and impose criminal and civil penalties on corporations, directors and officers
in respect of any breach of such provisions. In addition, the Singapore Code on Take-Overs and Mergers, or “ Singapore Take-Over
Code”, which specifies, among other things, certain circumstances in which a general offer is to be made upon a change in control
of a Singapore-incorporated public company, and further specifies the manner and price at which voluntary and mandatory general offers
are to be made.

The laws of Singapore and of the
United States differ in certain significant respects. The rights of our shareholders and the obligations of our directors and officers
under Singapore law may be different from those applicable to U. S. corporations, including those incorporated in Delaware, in material
respects, and our shareholders may have more difficulty and less clarity in protecting their interests in connection with actions taken
by our management, members of our board of directors or our controlling shareholders than would otherwise apply to U. S. corporations,
including those incorporated in Delaware. See Exhibit 2.2 “ Description of Ordinary Shares - Comparison of Shareholder Rights”
for a discussion of certain differences between Singapore and Delaware corporation law.

In addition, the application
of Singapore law, in particular, the Singapore Companies Act may, in certain circumstances, impose more restrictions on us, our shareholders,
directors and officers than would otherwise be applicable to U. S. corporations, including those incorporated in Delaware. For example,
the Singapore Companies Act requires a director to act with a reasonable degree of diligence in the discharge of the duties of his office
and, in certain circumstances, imposes criminal liability for specified contraventions of particular statutory requirements or prohibitions.
In addition, pursuant to the provisions of the Singapore Companies Act, shareholders holding 10% or more of the total number of paid-up
shares as at the date of the deposit carrying the right of voting at general meetings (disregarding paid-up shares held as treasury shares)
may by depositing a requisition, require our directors to convene an extraordinary general meeting. If our directors do not within 21
days after the date of deposit of the requisition proceed to convene a meeting, the requisitioning shareholders, or any of them representing
more than 50% of the total voting