Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 56

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 4
Chunk 56
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 sponsor regime are as follows:

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In
addition, pursuant to Appendix 28 of the Listing Rules in relation to transition arrangements for eligible issuer (as defined in Rule
9A.01A of the Listing Rules) (“ Eligible Issuer”), an Eligible Issuer must appoint a sponsor to conduct due diligence in connection
with the transfer of its listing from GEM to the Main Board during the transitional period of three years from February 15, 2018 to February
14, 2021.

The
Listing Rules, the GEM Listing Rules, the Sponsor Guidelines and the CFA Code regulate sponsor’s obligations and responsibilities.
The intermediary and its management (includes a sponsor’s board of directors, managing director, chief executive officer, Responsible
Officers, executive officers and other senior management personnel) shall be responsible for ensuring that the firm satisfies all specific
and ongoing eligibility criteria of the Sponsor Guidelines and paragraph 17 of the Code of Conduct, as well as complies with all other
relevant codes, guidelines and regulations prescribed by the SFC.

  36  

In
order to maintain the eligibility as sponsor, a sponsor should have at least two sponsor principals, who should be engaged by the sponsor
for the purpose of conducting sponsor-related work on a full-time basis, at all times to discharge its role in supervising the transaction
team. The GEM Listing Rules or the Listing Rules (as the case may be) require an issuer to appoint a compliance adviser during an initial
period after being admitted to listing and the compliance adviser’s core role is to assist the issuer to comply with certain obligations
under the Listing Rules or GEM Listing Rules (as the case may be) during such a period.

GCL
was licensed to carry Type 6 (advising on corporate finance) regulated activities by the SFC in February 2017 and was admitted as a sponsor.

Key
ongoing obligations

Remaining
fit and proper

Licensed
corporations, licensed representatives, responsible officers and registered institutions must remain fit and proper as defined under
the SFO at all times. They are required to comply with all applicable provisions of the SFO and its subsidiary legislations as well as
the codes and guidelines issued by the SFC.

Section
116(3) of the SFO provides that the SFC