Company: AEHL
Filing Date: 2025-08-05
Form Type: 20-F/A
Source: 0001641172-25-022290
Chunk: 45

Company: Antelope Enterprise Holdings Ltd
Filing Date: 2025-08-05
Form: 20-F/A
Chunk 45
---
 company”
as defined under the NASDAQ Stock Market Rules because our CEO and chairman, Mr. Weilai (Will) Zhang, beneficially owns more than 50%
of voting power for the election of directors. As of the date of this annual report, Mr. Zhang holds all the issued and outstanding 2,005,497
Class B ordinary shares, each of which is entitled to twenty (20) votes. For so long as we are a controlled company under that definition,
we are permitted to elect to rely, and may rely, on certain exemptions from corporate governance rules, including:

| ● | an exemption from the rule that a majority of our board of directors must be independent directors; |

| ● | an exemption from the rule that the compensation of our chief executive officer must be determined or recommended solely by independent directors; and |

| ● | an exemption from the rule that our director nominees must be selected or recommended solely by independent directors. |

As a result, if we elect to rely
on the exemptions available for the controlled companies, you will not have the same protection afforded to shareholders of companies
that are subject to these corporate governance requirements.

| 23 |

NASDAQ May Delist us due to Deficiencies

We received deficiency notices from Nasdaq in the past, and effected reverse splits to deal with some of the issues.

For example, on November 1, 2024, we received a deficiency letter from the Listing Qualifications Department. The deficiency letter advised that for the last 30 consecutive business days the bid price for the Company’s Class A ordinary shares had closed below the minimum $1.00 per share requirement for continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”). The deficiency letter did not result in the immediate delisting of the Company’s Class A ordinary shares from the Nasdaq Capital Market.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A) (the “Compliance Period Rule”), the Company has been provided an initial period of 180 calendar days, or until January 22, 2024 (the “Compliance Date”), to regain compliance with the Bid Price Rule. If, at any time before the Compliance Date, the bid price for the Company’s Class A ordinary shares closes at $1.00 or more for a minimum of 10 consecutive business days as required under the Compliance Period Rule, the Staff will provide written notification to the Company that it complies with the Bid