Company: FSHPU
Filing Date: 2025-11-12
Form Type: DEF 14A
Source: 0001829126-25-009060
Chunk: 15

Company: Flag Ship Acquisition Corp
Filing Date: 2025-11-12
Form: DEF 14A
Chunk 15
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 Trail, Pittsford, New York 14534.   |

Our founders beneficially own approximately 39.06% of the issued and outstanding ordinary shares. Because of the ownership block held
by our founders, officers and directors, such individuals may be able to effectively
exercise influence over all matters requiring approval by our shareholders, including
the election of directors and approval of significant corporate transactions other
than approval of our initial business combination.

Our sponsor, officers and directors are deemed to be our “promoters” as such term
is defined under the federal securities laws.

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CORPORATE GOVERNANCE</div>

Our officers are elected by the Board of Directors and serve at the discretion of
the Board of Directors, rather than for specific terms of office. Our Board of Directors
is authorized to appoint persons to the offices set forth in our amended and restated
memorandum and articles of association as it deems appropriate. Our amended and restated
memorandum and articles of association provides that our officers may consist of a
Chairman, Chief Executive Officer, President, Chief Financial Officer, Vice Presidents,
Secretary, Assistant Secretaries, Treasurer and such other offices as may be determined
by the Board of Directors.

Each of our directors holds office for a two-year term. Subject to any other special
rights applicable to the shareholders, any vacancies on our Board of Directors may
be filled by the affirmative vote of a majority of the directors present and voting
at the meeting of our board or by a majority of the holders of our founder shares.

Director Independence

The NASDAQ listing standards require that a majority of our Board of Directors be
independent. An “independent director” is defined generally as a person who has no
material relationship with the listed company (either directly or as a partner, shareholder
or officer of an organization that has a relationship with the company). We currently
have three “independent directors” as defined in the NASDAQ listing standards and
applicable SEC rules prior to completion of our initial public offering. Our board
has determined that each of Messrs. Shan Cui, Pai Liu and Wen He are independent directors under applicable SEC and NASDAQ rules. Our independent
directors will have regularly scheduled meetings at which only independent directors
are present.

Committees of the Board of Directors

Our Board of Directors has three standing committees: an audit committee, a compensation
committee, and a nominating committee. Each committee will operate under a charter