Company: GVH
Filing Date: 2025-04-15
Form Type: DRS
Source: 0001641172-25-004806
Chunk: 24

Company: Globavend Holdings Ltd
Filing Date: 2025-04-15
Form: DRS
Chunk 24
---
 our subsidiaries by way
of dividend payments. Subject to due corporate authorization in accordance with the Memorandum and Articles of Association of Globavend
Holdings and Globavend Holdings being solvent and able to pay its debts, Globavend Holdings is permitted under the laws of Cayman Islands
and its Memorandum and Articles of Association (as amended from time to time) to provide funding to its subsidiaries through loans or
capital contributions. Our HK Subsidiaries are permitted under the laws of Hong Kong to provide funding to Globavend Holdings through
dividend distributions subject to certain statutory requirements of having sufficient profits.

Subject to Hong Kong law,
the Companies Act and our Memorandum and Articles of Association, our Company in general meeting may declare dividends in any currency,
but no dividends shall be declared in excess of the amount recommended by our board of directors. Subject to a solvency test, as prescribed
in the Companies Act, and the provisions, if any, of the company’s memorandum and articles of association, a company may pay dividends
and distributions out of its share premium account. In addition, dividends may be paid out of profits available on a company level. The
Cayman Islands does not impose a withholding tax on payments of dividends to shareholders in the Cayman Islands.

Under Hong Kong law, dividends
could only be paid out of distributable profits (that is, accumulated realized profits less accumulated realized losses) or other distributable
reserves, as permitted under Hong Kong law. Dividends cannot be paid out of share capital. There are no restrictions or limitation under
the laws of Hong Kong imposed on the conversion of HK dollar into foreign currencies and the remittance of currencies out of Hong Kong,
nor is there any restriction on foreign exchange to transfer cash between Globavend Holdings and its subsidiaries, across borders and
to U.S. investors, nor are there any restrictions and limitations to distribute earnings from our business and subsidiaries, to Globavend
Holdings and U.S. investors and amounts owed. Under the current practice of the Inland Revenue Department of Hong Kong, no tax is payable
in Hong Kong with respect to dividends paid by us. Further, there are no restrictions or limitation under the laws of Hong Kong imposed
on the conversion of HK$ into foreign currencies and the remittance of currencies out of Hong Kong or across borders and to U.S. investors.
Any limitation on the ability of our subsidiary to make payments to us could have a material adverse effect on our ability to conduct
our