Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 48

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 3
Chunk 48
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 ownership will limit or preclude your ability to influence corporate matters, including the election of directors, amendments
of our organizational documents, and any merger, consolidation, sale of all or substantially all of our assets, or other major corporate
transactions requiring shareholder approval, and that may adversely affect the trading price of our Class A Ordinary Shares.

Each
Class B Ordinary Share has fifty votes per share, and our Class A Ordinary Shares have one vote per share. Because of the fifty-to-one
voting ratio between our Class B and Class A Ordinary Shares, the holders of our Class B Ordinary Shares could continue to control a majority
of the combined voting power of our Ordinary Shares and therefore control all matters submitted to our shareholders for approval until
converted by the holders of our Class B Ordinary Shares. This concentrated control may limit or preclude your ability to influence corporate
matters for the foreseeable future, including the election of directors, amendments of our organizational documents and any merger, consolidation,
sale of all or substantially all of our assets or other major corporate transactions requiring shareholder approval. In addition, this
concentrated control may prevent or discourage unsolicited acquisition proposals or offers for our capital stock that you may feel are
in your best interest as one of our shareholders. As a result, such concentrated control may adversely affect the market price of our
Class A Ordinary Shares.

Even
if our controlling shareholder were to dispose of certain of its shares of our Class B Ordinary Shares such that it would control
less than a majority of the voting power of our outstanding Ordinary Shares, it may be able to influence the outcome of corporate actions
so long as it retains Class B Ordinary Shares. During the period of our controlling shareholder possessing controlling or significant
ownership of our Ordinary Shares, investors may not be able to affect the outcome of our corporate actions.

We are a foreign private issuer within the
meaning of the rules under the Exchange Act, and, as such, we are exempt from certain provisions applicable to U. S. domestic public companies.

Because we qualify as a foreign
private issuer under the Exchange Act, we are exempt from certain provisions of the securities rules and regulations in the United States
that are applicable to U. S. domestic issuers, including:

  the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q or current reports on Form 8-K;                                                                  
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