Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 264

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 19
Chunk 264
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9,461,001and HKD9,884,032to its shareholders during the
years ended June 30, 2025, 2024 and 2023, respectively. The dividend per share was nil, HKD0.59and HKD0.86, respectively, during the
years ended June 30, 2025, 2024 and 2023. As of June 30, 2025 and 2024, the dividend payable balance was niland HKD5,865,364respectively
(Note 7).

Subscription receivable

The subscription receivable
represents the unpaid capital contribution of US$10,000for Galaxy Payroll BVI by the shareholders. The receivable was fully settled as
of June 30, 2025.

Share split

On December 19, 2022, the
Group filed Amended and Restated Charter with the Registrar to increase its authorized shares from50,000Ordinary Shares, par value of
US$1per share, to unlimited number of Ordinary Shares, par value of US$0.000625per share and effectuated a forward split of all issued
and outstanding shares at a ratio of1,600:1. All references made to share or per share amounts in the consolidated financial statements
and applicable disclosures have been retroactively adjusted to reflect the 1,600 for 1 share split.

Note 12 - Share-Based Compensation

On February 26, 2025, the
Group adopted the 2025 Share Incentive Plan, for the purpose of granting share-based compensation awards to employees, directors and consultants
to incentivize their performance and align their interests with the Group. The maximum aggregate number of Class A Ordinary Shares which
may be issued pursuant to all awards under the 2025 Share Incentive Plan is360,250, after the retroactive effect of reverse share split on September
8, 2025.

The Group recognized compensation
expense for the year ended June 30, 2025 was nil.

As of June 30, 2025,360,250Class A Ordinary Shares were issued with retroactive effect
of reverse shares split on September 8, 2025 and did not grant to employees. None of the granted and vested shares have been exercised. There was
no unrecognized compensation cost related to unvested share options.

F-25

Note 13 - Commitments and contingencies

In the ordinary course of
business, the