Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 144

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 144
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 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.

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.

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  Table of Contents  

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, our shareholders
are not afforded any less protections or rights on this issue than shareholders of a Delaware corporation.

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