Company: KMRK
Filing Date: 2025-08-15
Form Type: 20-F
Source: 0001213900-25-077494
Chunk: 21

Company: K-TECH SOLUTIONS CO LTD
Filing Date: 2025-08-15
Form: 20-F
Item: Item 3
Chunk 21
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 S. securities law; and to impose liabilities against us, in
original actions brought in the BVI, based on certain liability provisions of U. S. securities laws that are penal in nature. There
is no statutory recognition in the BVI of judgments obtained in the U. S., although the courts of the BVI will generally recognize and
enforce the non-penal judgment of a foreign court of competent jurisdiction without retrial on the merits. The BCA offers some limited
protection of minority shareholders. The principal protection under statutory law is that shareholders may apply to the BVI court for
an order directing the company or its director(s) to comply with, or restraining the company or a director from engaging in conduct
that contravenes the BCA. Under the BCA, the minority shareholders have a statutory right to bring a derivative action in the name
of and on behalf of the company in circumstances where a company has a cause of action against its directors. This remedy is available
at the discretion of the BVI court. A shareholder may also bring an action against the company for breach of duty owed to him as a shareholder.
A shareholder who considers that the affairs of the company have been, are being or likely to be, conducted in a manner that is, or any
act or acts of the company have been, or are, likely to be oppressive, unfairly discriminatory, or unfairly prejudicial to him in that
capacity, may apply to the BVI court for an order to remedy the situation.

There are common law rights
for the protection of shareholders that may be invoked, largely dependent on English common law. Under the general rule pursuant to English
common law known as the rule in Foss v. Harbottle, a court will generally refuse to interfere with the management of a company at the
insistence of a minority of its shareholders who express dissatisfaction with the conduct of the company’s affairs by the majority
or the Board. However, every shareholder is entitled to have the affairs of the company conducted properly according to BVI law and the
constitutional documents of the company. As such, if those who control the company have persistently disregarded the requirements of the
BVI law and the constitutional documents of the company, then the courts may grant relief. Generally, the areas in which the courts will
intervene are the following: (1) an act complained of which is outside the scope of the authorized business or is illegal or not
capable of ratification by the majority