Company: SEAH
Filing Date: 2025-11-24
Form Type: F-1/A
Source: 0001213900-25-113788
Chunk: 122

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-11-24
Form: F-1/A
Chunk 122
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f) of Item 401 of Regulation S -K. Controlled Company Upon completion of the Offering, our biggest shareholder, WISDOM FOCUS GROUP LTD., will beneficially own approximately 90.83% of the aggregate voting power of our outstanding Ordinary Shares, assuming no exercise of the underwriter’s over -allotmentoption, or approximately 90.53%, assuming full exercise of the underwriter’s over -allotmentoption. As a result, we will be deemed to be a “controlled company” within the meaning of the NASDAQ listing standards. WISDOM FOCUS GROUP LTD., has the ability to control the outcome of matters submitted to the shareholders for approval, including the election of directors and any merger, consolidation, or sale of all or substantially all of our assets. If we are deemed to be a “controlled company,” we are permitted to elect to rely on certain exemptions from the obligations to comply with certain corporate governance requirements, including: •the requirement that a majority of the board of directors consist of independent directors; •the requirement that our director nominees be selected or recommended solely by independent directors; and •the requirement that we have a nominating and corporate governance committee and a compensation committee that are composed entirely of independent directors with a written charter addressing the purposes and responsibilities of the committees. Although we do not intend to rely on the controlled company exemptions under the NASDAQ listing standards even if we are deemed a controlled company, we could elect to rely on these exemptions in the future, and if so, you would not have the same protection afforded to shareholders of companies that are subject to all of the corporate governance requirements of the NASDAQ Capital Market. Board of Directors Our board of directors will consist of five directors upon closing of the Offering. Duties of Directors Under BVI law, our directors owe fiduciary duties both at common law and under statute, including a statutory duty to act honestly, in good faith and with a view to our best interests. When exercising powers or performing duties as a director, our directors also have a duty to exercise the care, diligence and skills that a reasonable director would exercise in comparable circumstances, taking into account, without limitation, the nature of the Company, the nature of the decision and the position of the director and the nature of the responsibilities undertaken by him. In exercising 86 the powers of a director, the directors must exercise their powers for a proper purpose and shall not act or agree to the Company acting in a manner that contravenes our Memorandum and Articles or the B