Company: DKI
Filing Date: 2025-07-29
Form Type: F-1/A
Source: 0001641172-25-021310
Chunk: 49

Company: DarkIris Inc.
Filing Date: 2025-07-29
Form: F-1/A
Chunk 49
---
 board of directors or Controlling Shareholders than they would as public shareholders of a company incorporated in the United States. For a discussion of significant differences between the provisions of the Companies Act and the laws applicable to companies incorporated in the United States and their shareholders, see “Description of Share Capital and Governing Documents — Differences in Corporate Law”.

You may be unable to present proposals before annual general meetings or extraordinary general meetings not called by shareholders.

Cayman Islands law provides shareholders with only limited rights to convene a general meeting and does not provide shareholders with any right to put any proposal before a general meeting. However, these rights may be provided in a company’s articles of association. Our second amended and restated memorandum and articles of association allow our shareholders holding shares representing in aggregate not less than 10 percent of the rights to vote at such general meeting, to convene a general meeting of our shareholders, in which case our directors are obliged to call such meeting. Advance notice of at least 5 clear days is required for the convening of a general meeting (including an annual general meeting (if any)). A quorum required for a meeting of shareholders consists of one or more shareholders present in person or by proxy, representing not less than one-third of the outstanding shares of our company carrying the right to vote at such general meeting.

Recently introduced economic substance legislation of the Cayman Islands may impact the Company or its operations

The Cayman Islands, together
with several other non-European Union jurisdictions, have recently introduced legislation aimed at addressing concerns raised by the
Council of the European Union as to offshore structures engaged in certain activities which attract profits without real economic activity.
Effective January 1, 2019, the International Tax Co-operation (Economic Substance) Act (Revised) (the “Substance Law”)
and issued Regulations and Guidance Notes came into force in the Cayman Islands introducing certain economic substance requirements for
“relevant entities” which are engaged in certain “relevant activities,” which in the case of exempted companies
incorporated before January 1, 2019, will apply in respect of fiscal years commencing July 1, 2019, onwards. A “relevant
entity” includes an exempted company incorporated in the Cayman Islands, as is our Company. Based on the current interpretation
of the Substance Law, we believe that our Company is a pure equity holding company since it only holds equity participation in other
entities and only earns dividends and capital gains. Accordingly, for so long as our Company is a