Company: GVH
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001213900-25-052766
Chunk: 89

Company: Globavend Holdings Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 89
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 exercise powers for the purpose for which such powers were intended. A director of a
Cayman Islands company owes to the company a duty to act with skill and care. It was previously considered that a director need not
exhibit in the performance of his duties a greater degree of skill than may reasonably be expected from a person of his knowledge
and experience. However, English and Commonwealth courts have moved towards an objective standard with regard to the required skill
and care and these authorities are likely to be followed in the Cayman Islands.

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Shareholder Action by Written Consent.Under the Delaware General Corporation Law, a corporation may eliminate the right of shareholders
to act by written consent by amendment to its certificate of incorporation. Cayman Islands law permits us to eliminate the right of shareholders
to act by written consent and our Articles provide that any action required or permitted to be taken at any general meetings may be taken
upon the vote of shareholders at a general meeting duly noticed and convened in accordance with our Articles and may not be taken by written
consent of the shareholders without a meeting.

Shareholder Proposals.Under
the Delaware General Corporation Law, a shareholder has the right to put any proposal before the annual meeting of shareholders, provided
it complies with the notice provisions in the governing documents. A special meeting may be called by the board of directors or any other
person authorized to do so in the governing documents, but shareholders may be precluded from calling special meetings.

The Companies Act does not
provide shareholders with any right to requisition a general meeting or to put any proposal before a general meeting. Our Memorandum and
Articles also do not provide our shareholders with any right to requisite any general meeting nor to put proposals before annual general
meetings or extraordinary general meetings. As an exempted Cayman Islands company, we are not obliged by law to call shareholders’
annual general meetings.

Cumulative Voting.Under
the Delaware General Corporation Law, cumulative voting for elections of directors is not permitted unless the corporation’s certificate
of incorporation specifically provides for it. Cumulative voting potentially facilitates the representation of minority shareholders on
a board of directors since it permits the minority shareholder to cast all the votes to which the shareholder is entitled on a single
director, which increases the shareholder’s voting power with respect to electing such director. There are no prohibitions in relation
to cumulative voting under the laws of the Cayman Islands but our Articles do not provide for cumulative voting. As a result