Company: GINT
Filing Date: 2025-06-27
Form Type: F-1/A
Source: 0001213900-25-058872
Chunk: 17

Company: Gifts International Holdings Ltd
Filing Date: 2025-06-27
Form: F-1/A
Chunk 17
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 Being a Controlled Company We will be a “controlled company” within the meaning of Nasdaq Stock Market Rules. As of the date of this prospectus, our Controlling Shareholder, Mr. Ngai Chiu Wong, owns 8,248,500 Class B Ordinary Shares, representing 94.26% of the voting power of the Company. Following completion of this offering, giving effect to the sale of the Class A Ordinary Shares being offered hereby, Mr.Wong will own [8,248,500] Class B Ordinary Shares, representing [93.46]% of the total voting power of our Company, assuming that the underwriters do not exercise their over -allotmentoption. For so long as we are a controlled company, we are permitted to elect not to comply with certain stock exchange rules regarding corporate governance, including the following requirements: •that a majority of its board of directors consist of independent directors; •that its director nominees be selected or recommended for the board’s selection by a majority of the board’s independent directors in a vote in which only independent directors participate or by a nominating committee comprised solely of independent directors, in either case, with a formal written charter or board resolutions, as applicable, addressing the nominations process and such related matters as may be required under the federal securities laws; and •that its compensation committee be composed solely of independent directors with a written charter addressing the committee’s purpose and responsibilities. As a result, you will not have the same protection afforded to shareholders of companies that are subject to these corporate governance requirements. Although we do not intend to rely on the “controlled company” exemption under the Nasdaq listing rules, we could elect to rely on this exemption after we complete this offering. If we elect to rely on the “controlled company” exemption, a majority of the members of our board of directors might not be independent directors and our nominating and corporate governance and compensation committees might not consist entirely of independent directors after we complete this offering. See “ Risk Factors — Risks Related to Our Shares — We will be a “controlled company” within the meaning of Nasdaq rules and we will qualify for and may rely on exemptions from certain corporate governance requirements.”. Transfers of Cash To and From Our Subsidiaries We conduct substantially all of our operations in Hong Kong through our Hong Kong operating subsidiary, Broaden Leisure. As a result, almost all our sales revenues are received by Broaden Leisure. GGBB, is an intermediate holding company with no operations of its own; and Gifts International,