Company: TOP
Filing Date: 2025-04-30
Form Type: POS AM
Source: 0001213900-25-037641
Chunk: 46

Company: TOP Financial Group Ltd
Filing Date: 2025-04-30
Form: POS AM
Chunk 46
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man Islands companies may not have standing to initiate a shareholder derivative action in a federal court of the United States.

Shareholders of Cayman
Islands companies like us have no general rights under the Cayman Islands laws to inspect corporate records, other than the amended and
restated memorandum and articles of association and any special resolutions passed by such companies, and the registers of mortgages
and charges of such companies. Our directors have discretion under our amended and restated memorandum and articles of association to
determine whether or not, and under what conditions, our corporate records may be inspected by our shareholders, but are not obliged
to make them available to our shareholders. This may make it more difficult for you to obtain the information needed to establish any
facts necessary for a shareholder motion or to solicit proxies from other shareholders in connection with a proxy contest.

Certain corporate
governance practices in the Cayman Islands, where our holding company was incorporated, differ significantly from requirements for companies
incorporated in other jurisdictions such as the United States. Currently, we do not plan to rely on home country practice with respect
to our corporate governance. However, if we choose to follow the Cayman Islands’ practice in the future, our shareholders may be
afforded less protection than they otherwise would under rules and regulations applicable to U.S. domestic issuers.

As a result of all
of the above, Harney Westwood & Riegels, our counsel as to the laws of the Cayman Islands has advised us that public shareholders
may have more difficulty in protecting their interests in the face of actions taken by our management, members of our board of directors,
or our Controlling Shareholder than they would as public shareholders of a company incorporated in the United States.

<div align='center'>14

CAPITALIZATION AND INDEBTNESS</div>

Our capitalization will
be set forth in the applicable prospectus supplement or in a report on Form 6-K subsequently furnished to the SEC and specifically
incorporated by reference into this prospectus.

<div align='center'>15

DILUTION</div>

If required, we will
set forth in a prospectus supplement the following information regarding any material dilution of the equity interests of investors purchasing
securities in an offering under this prospectus:

| ● | the net tangible book value per share of our equity securities before 
 and after the offering;                                               |

| ● | the amount of the increase in such net tangible                                                
 book value per share attributable to the cash payments