Company: ZDAN
Filing Date: 2025-01-10
Form Type: DRS/A
Source: 0001683168-25-000168
Chunk: 120

Company: Zerolimit Technology Holding Co. Ltd.
Filing Date: 2025-01-10
Form: DRS/A
Chunk 120
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requirement within one year of listing. The corporate governance practice in our home country, the Cayman Islands, does not require a
majority of our board to consist of independent directors. Since a majority of our Board of Directors will not consist of independent
directors, fewer board members will be exercising independent judgment and the level of board oversight on the management of our company
may decrease as a result. In addition, the Nasdaq listing rules also require U.S. domestic issuers to have a compensation committee,
a nominating/corporate governance committee composed entirely of independent directors, and an audit committee with a minimum of three
members. As a foreign private issuer, we are not subject to these requirements. The Nasdaq listing rules may require shareholder approval
for certain corporate matters, such as requiring that shareholders be given the opportunity to vote on all equity compensation plans
and material revisions to those plans and certain Ordinary Share issuances. We intend to comply with the requirements of Nasdaq listing
rules in determining whether shareholder approval is required on such matters and to appoint a nominating and corporate governance committee.
However, we may consider following home country practice in lieu of the requirements under Nasdaq listing rules with respect to certain
corporate governance standards which may afford less protection to investors. Accordingly, you would not have the same protections afforded
to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq. Our controlling shareholder
will have substantial control over corporate matters after this offering.

As a foreign private issuer, we are permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly from the Nasdaq listing standards. These practices may afford less protection to shareholders than they would enjoy if we complied fully with corporate governance listing standards.

As a foreign private issuer,
we are permitted to take advantage of certain provisions in the Nasdaq listing standards that allow us to follow Cayman Islands law for
certain governance matters. Certain corporate governance practices in the Cayman Islands may differ significantly from corporate governance
listing standards as, except for general fiduciary duties and duties of care, Cayman Islands law has no corporate governance regime which
prescribes specific corporate governance standards. Currently, we do not intend to rely on home country practice with respect to our
corporate governance after we complete with this offering. However, if we choose to follow home country practice in the future, our shareholders
may be afforded less protection than they otherwise would have under corporate governance listing standards applicable to U.S. domestic
issuers.