Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 93

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 10
Chunk 93
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 have persistently
disregarded the requirements of company law or the provisions of the company’s Memorandum and Articles of Association, then the
courts may grant relief. Generally, the areas in which the courts will intervene are the following: (1) an act complained of which is
outside the scope of the authorized business or is illegal or not capable of ratification by the majority; (2) acts that constitute fraud
on the minority where the wrongdoers control the company; (3) acts that infringe or are about to infringe on the personal rights of the
shareholders, such as the right to vote; and (4) where the company has not complied with provisions requiring approval of a special or
extraordinary majority of shareholders.

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Pre-emptive
rights

There
are no pre-emptive rights applicable to the issue by us of new shares under either BVI law or our Memorandum and Articles of Association.

Transfer
of shares

Subject
to the restrictions in our Memorandum and Articles of Association and applicable securities laws, any of our shareholders may transfer
all or any of his or her ordinary shares by written instrument of transfer signed by the transferor and containing the name and address
of the transferee. Our board of directors may resolve by resolution to refuse or delay the registration of the transfer of any shares.
If our board of directors resolves to refuse or delay any transfer, it shall specify the reasons for such refusal in the resolution.
Our directors may not resolve or refuse or delay the transfer of the shares unless the person transferring the shares has failed to pay
any amount due in respect of any of those shares; or (b) such refusal or delay is deemed necessary or advisable in our view or that of
our legal counsel in order to avoid violation of, or in order to ensure compliance with, any applicable, corporate, securities and other
laws and regulations.

Liquidation

As
permitted by BVI law and our Memorandum and Articles of Association, the Company may be voluntarily liquidated by a resolution of members
or, if permitted under section 199(2) of the BVI Act, by a resolution of directors if we have no liabilities or we are able to pay our
debts as they fall due and the value of our assets equals or exceeds our liabilities by resolution of directors and resolution of shareholders.

Calls
on Shares and forfeiture of shares

Our
board of directors may from time to time make calls upon shareholders for any amounts unpaid