Company: AGCC
Filing Date: 2025-06-03
Form Type: DRS/A
Source: 0001213900-25-050599
Chunk: 131

Company: Agencia Comercial Spirits Ltd.
Filing Date: 2025-06-03
Form: DRS/A
Chunk 131
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 claims made by reason of their being our director or officer. CORPORATE GOVERNANCE Controlled Company Upon completion of this offering, our Controlling Shareholders, through Ping Shiang Business Ltd will have (i) an aggregate of [*]% of the total voting power of our then outstanding Ordinary Shares, assuming the underwriters do not exercise their over -allotmentoption, or (ii) [*]% of the total voting power of our then 91 outstanding Ordinary Shares, assuming the underwriters exercise their over -allotmentoption in full. As a result, we may be deemed a “controlled company” within the meaning of the Nasdaq listing rules. If we are deemed a controlled company, we are permitted to elect to rely on certain exemptions from the obligations to comply with certain corporate governance requirements, including: •the requirement that a majority of the board of directors consist of independent directors; •the requirement that we have a nominating and corporate governance committee and a compensation committee that are composed entirely of independent directors with a written charter addressing the purposes and responsibilities of the committees; •the requirement that a listed company have a compensation committee that is composed entirely of independent directors with a written charter addressing the committee’s purpose and responsibilities; and •the requirement for an annual performance evaluation of the nominating and governance committee and compensation committee. Although we do not intend to rely on the controlled company exemptions under the Nasdaq listing rules even if we are deemed a controlled company, we could elect to rely on these exemptions in the future, and if so, you would not have the same protection afforded to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq. Board of Directors Our board of directors will consist of five directors, including two executive directors and three independent directors. The powers and duties of our directors include convening general meetings and reporting our board’s work at our shareholders’ meetings, declaring dividends and distributions, determining our business and investment plans, appointing officers and determining the term of office of the officers, preparing our annual financial budgets and financial reports, formulating proposals for the increase or reduction of our authorized capital as well as exercising other powers, functions and duties as conferred by our articles of association. A director may exercise all the powers of our company to borrow money, mortgage its business, property and uncalled capital and issue debentures or other securities whenever money is borrowed or as security for any obligation of our company or of any third party. A director who is in any way, whether directly or indirectly, interested in a contract