Company: BGHL
Filing Date: 2025-05-30
Form Type: DRS
Source: 0001213900-25-049553
Chunk: 106

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-05-30
Form: DRS
Chunk 106
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 well as the Chief Executive Officer and the Executive Director Nominee, on December 20, 2024, respectively (collectively, the Employment Agreements and Director Agreements) (Mr. Chung Tat Fai and Mr. Chen Xin, are collectively referred to as the Named Directors and Officers). Pursuant to the Employment Agreements and Director Agreements, each of our executive officers will serve for a period of [*] years from the effective date of the registration statement. We may terminate the employment without cause at any time upon one month’s advance written notice or payment in lieu. Pursuant to the Employment Agreement, both Mr. Chung Tat Fai and Mr. Chen Xin will receive a commencing salary of HK$20,000 per month. Compensation of Directors and Executive Officers For the fiscal year ended December 31, 2024, we paid an aggregate of HK$[*] (approximately US$[*]) in cash to our directors and executive officers. We have not set aside or accrued any amount to provide pension, retirement or other similar benefits to our directors and executive officers. Insider Participation Concerning Executive Compensation Our principal shareholder, Ms. Zhang, has made all determinations regarding executive officer compensation since the inception of our Company. When our Compensation Committee is set up, it will be making all determinations regarding executive officer compensation. Election of Officers Our executive officers are appointed by, and serve at the discretion of, our board of directors. Board of Directors Composition of our Board of Directors Our board of directors will consist of 5 directors upon the effectiveness of our registration statement on Form F -1of which this prospectus is a part. A director is not required to hold any shares in our Company to qualify to serve as a director. The Corporate Governance Rules of the Nasdaq generally require that a majority of an issuer’s board of directors consist of independent directors. 70 Our board of directors currently consists of 1 director and will have 1 executive director and 3 independent directors appointed at the effectiveness of this registration statement. Our board of directors has determined that each of Woo Kevin Lok Tin, Cheung Leung, and So Chi Kai will be an “independent director” as defined under the Nasdaq rules. Our board of directors will be composed of a majority of independent directors at the effectiveness of this registration statement. Subject to the Nasdaq rules and disqualification by the chairman of the relevant board meeting, a director may vote, as a director in respect of any contract, proposed contract, arrangement, proposal or transaction notwithstanding that he