Company: GINT
Filing Date: 2025-06-27
Form Type: F-1/A
Source: 0001213900-25-058872
Chunk: 97

Company: Gifts International Holdings Ltd
Filing Date: 2025-06-27
Form: F-1/A
Chunk 97
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 Leisure declared and distributed a dividend of HK$4,200,000 and HK$4,100,000 (US$525,641) by setting off the amount due from our shareholder, Mr.Ngai Chiu Wong, respectively. Subsequently, on October23, 2024, the Company declared and paid the special dividend of HK$1,500,000 (US$193,068) by setting off the amount due from a shareholder, Mr.Ngai Chiu Wong. We currently intend to retain most, if not all, of our available funds and any future earnings to fund the operation, development, and growth of our business, and, as a result, we do not expect to pay any dividends in the foreseeable future. Consequently, we cannot give any assurance that any dividends may be declared and paid in the future. Any future determination related to our dividend policy will be made at the discretion of our board of directors after considering our financial condition, results of operations, capital requirements, contractual requirements, business prospects and other factors the board of directors deems relevant, and subject to the restrictions contained in any future financing instruments. The declaration, amount and payment of any future dividends will be at the sole discretion of our board of directors, subject to compliance with applicable British Virgin Islands laws. Our board of directors will take into account general economic and business conditions, our financial condition and results of operations, our available cash and current and anticipated cash needs, capital requirements, contractual, legal, tax and regulatory restrictions and other implications on the payment of dividends by us to our shareholders or by our subsidiaries to us, and such other factors as our board of directors may deem relevant. Subject to the BCA and our Amended Memorandum and Articles, our board of directors may authorize payment of a dividend to shareholders at such time and of such an amount out of profits and/or our share premium account, if shares have been issued at a premium, provided that in no circumstances may a dividend be paid if the dividend payment would result in the company being unable to pay its debts as they fall due in the ordinary course of business. As we are a holding company, we rely on dividends paid to us by our subsidiaries for our cash requirements, including funds to pay any dividends and other cash distributions to our shareholders, service any debt we may incur and pay our operating expenses. Our ability to pay dividends to our shareholders will depend on, among other things, the availability of dividends from our subsidiaries. Cash dividends, if any, on our Shares will be paid