Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 186

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 10
Chunk 186
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 (d) subject to the Memorandum and Articles of Association, the Conversion Right in respect of each Class
B Ordinary Share in the shareholder's holding.

Election
of directors

Delaware
law permits cumulative voting for the election of directors only if expressly authorized in the certificate of incorporation. The laws
of the BVI, however, do not specifically prohibit or restrict the creation of cumulative voting rights for the election of our directors.
Cumulative voting is not a concept that is accepted as a common practice in the BVI, and we have made no provisions in our Memorandum
and Articles of Association to allow cumulative voting for elections of directors.

Meetings

We
must provide written notice of all meetings of shareholders, stating the time and place at least 7 days before the date of the proposed
meeting to those persons whose names appear as shareholders in the register of members on the date of the notice and are entitled to
vote at the meeting. Our Board of Directors shall call a meeting of shareholders upon the written request of shareholders holding at
least 30% of our outstanding voting Ordinary Shares. In addition, our Board of Directors may call a meeting of shareholders on its own
motion. A meeting of shareholders may be called on short notice if at least 90% of the Ordinary Shares entitled to vote on the matters
to be considered at the meeting have waived notice of the meeting, and presence at the meeting shall be deemed to constitute waiver for
this purpose.

At
any meeting of shareholders, a quorum will be present if there are shareholders present in person or by proxy representing not less than
50% of the issued Ordinary Shares entitled to vote on the resolutions to be considered at the meeting. Such quorum may be represented
by only a single shareholder or proxy. If no quorum is present within two hours of the start time of the meeting, the meeting shall be
dissolved if it was requested by shareholders. In any other case, the meeting shall be adjourned to the next business day, and if shareholders
representing not less than one-third of the votes of the Ordinary Shares or each class of securities entitled to vote on the matters
to be considered at the meeting are present within one hour of the start time of the adjourned meeting, a quorum will be present. If
not, the meeting will be dissolved. No business may be transacted at any meeting of shareholders unless a quorum is present at the commencement
of business. If present, the chair of our Board