Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 83

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 6
Chunk 83
---
 the Nasdaq Listing
Rules. The nominating and corporate governance committee assists the board in selecting individuals qualified to become our directors
and in determining the composition of the board and its committees. The nominating and corporate governance committee is responsible
for, among other things:

  recommending                                                                                                                            
  reviewing                                                                                                                               
  selecting                                                                                                                               
  developing                                                                                                                              
  evaluating                                                                                                                              

Foreign
Private Issuer Exemption

We
are a “foreign private issuer,” as defined by the SEC. As a result, in accordance with the rules and regulations of Nasdaq,
we may choose to comply with home country governance requirements and certain exemptions thereunder rather than complying with Nasdaq
corporate governance standards. We may choose to take advantage of the following exemptions afforded to foreign private issuers:

  Exemption                                                                                                                                    
  Exemption                                                                                                                                    
  Exemption                                                                                                                                    

Furthermore,
Nasdaq Rule 5615(a)(3) provides that a foreign private issuer, such as us, may rely on our home country corporate governance practices
in lieu of certain of the rules in the Nasdaq Rule 5600 Series and Rule 5250(d), provided that we nevertheless comply with Nasdaq’s
Notification of Noncompliance requirement (Rule 5625), the Voting Rights requirement (Rule 5640) and that we have an audit committee
that satisfies Rule 5605(c)(3), consisting of committee members that meet the independence requirements of Rule 5605(c)(2)(A)(ii). If
we rely on our home country corporate governance practices in lieu of certain of the rules of Nasdaq, our shareholders may not have the
same protections afforded to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq. If
we choose to do so, we may utilize these exemptions for as long as we continue to qualify as a foreign private issuer.

Although
we are permitted to follow certain corporate governance rules that conform to BVI requirements in lieu of many of the Nasdaq corporate
governance rules, we intend to comply with the Nasdaq corporate governance rules applicable to foreign private issuers, including the
requirement to hold annual meetings of shareholders.

  56  

Equity
Compensation Plan Information

We
have not adopted any equity compensation plans.

Outstanding
Equity Awards at Fiscal Year-End

As
of December 31, 2024, we had no outstanding equity awards.

Clawback
Policy

On
October 30, 2023,