Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 133

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 133
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117) has been distributed as cash dividends and the remaining amount was offset with the amount due with Mr. Yau.

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  Table of Contents  

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
Cayman Islands laws regarding solvency. 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 Companies
Act and our Memorandum and Articles, the holders of our ordinary shares are entitled to such dividends as may be declared by our board
of directors. Subject to a solvency test, as prescribed in the Companies Act, and the provisions, if any, of our Memorandum and Articles,
a company may pay dividends and distributions out of its share premium account. In addition, dividends may be paid out of profits available
on company level.

We are a holding company
incorporated in the Cayman Islands with no operating revenue or profit of our own. 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. According to the BVI Business Companies Act (as amended), a BVI company may make dividends distribution
to the extent that immediately after the distribution, the value of the company’s assets exceeds its liabilities and that such
company is able to pay its debts as they fall due. According to the Companies Ordinance of Hong Kong, a Hong Kong company may only make
a distribution out of profits available for distribution. Under the current practice of the Inland Revenue Department of Hong Kong, no
tax is payable in Hong Kong in respect to dividends paid by us.

Cash dividends, if
any, on our Ordinary Shares will be paid in U. S. dollars.

  Significant  
  Changes      
 ───────────────

Except as disclosed
elsewhere in this annual report, we have not experienced any significant changes since the date of our audited consolidated financial