Company: FSTWF
Filing Date: 2025-07-25
Form Type: 424B3
Source: 0001213900-25-067790
Chunk: 136

Company: FST Corp.
Filing Date: 2025-07-25
Form: 424B3
Chunk 136
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’s major shareholder Far East Machinery Co. Ltd., and one by the New SPAC Sponsor. Appointment of Directors Our directors shall, be elected by the shareholders by way of any special resolution to either fill a casual vacancy or as an addition to the existing directors. The board of directors shall have power at any time to appoint any person as a director, either to fill casual vacancy or as an addition to the existing directors. Any director may in writing appoint another person to be such director’s alternate, with the alternate having the authority to act in the director’s place at any meeting at which the appointing director is unable to be present. A director may, but is not required to, appoint another director to be an alternate. Removal of Directors A director may be removed from office by special resolution of FST before the expiration of his period of office. A director will also cease to be a director if he or she (i) dies, becomes bankrupt or makes any arrangement or composition with such director’s creditors generally; (ii) is found to be or becomes of unsound mind; (iii) resigns the office of director by notice in writing to the company; (iv) is removed from office pursuant to the Articles of Association; or (v) is prohibited, by any applicable law or the rules of the Stock Exchange, from being a director. Directors’ Fiduciary Duties Under Cayman Islands law, director’s fiduciary duties are not codified, however the courts of the Cayman Islands have held that directors owe the following fiduciary duties: •duty to act in what the director bona fide believes to be in the best interests of the company as a whole; •duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose; •duty to avoid fettering the exercise of future discretion; and •duty to avoid conflicts of interest and of duty. In addition to the above, directors and officers also owe a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person carrying out the same functions as are carried out by that director in relation to the company and the general knowledge skill and experience of that director. 97 Capitalization of Profits and Reserves Subject to applicable law, the directors may resolve to capitalize all or any part of any amount standing to the credit of any reserve accounts or