Company: MEGL
Filing Date: 2025-05-09
Form Type: F-1
Source: 0001641172-25-009448
Chunk: 134

Company: Magic Empire Global Ltd
Filing Date: 2025-05-09
Form: F-1
Chunk 134
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 litigation.                                                                                                     |
|   | This is the “continuous ownership”                                                                                                           
 rule, which is a requirement for a stockholder to bring and maintain a derivative action. The law also requires the stockholder first        
 to demand the Board of Directors of the corporation to assert the claims or the stockholder must state in the derivative action particular   
 reasons why making such a demand would be futile.                                                                                            |
| ● | Just and equitable winding up: In addition                                                                                                   
 to the statutory remedies outlined above, shareholders can also petition for the winding up of a company on the grounds that it is           
 just and equitable for the court to so order. Save in exceptional circumstances, this remedy is only available where the company has         
 been operated as a quasi-partnership and trust and confidence between the partners has broken down. Under Delaware law the court can         
 use its equitable power of dissolution and appoint a receiver when fraud and gross mismanagement by corporate officers cause real imminent   
 danger of great loss, and cannot be otherwise prevented.                                                                                     |

Indemnification of directors and executive officers and limitation of liability

BVI law does not limit the extent to which a company’s articles of association may provide for indemnification of officers and directors, except to the extent any provision providing indemnification may be held by the BVI courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime.

Under our Memorandum and Articles of Association, we may indemnify against all expenses, including legal fees, and against all judgments, fines and amounts paid in settlement and reasonably incurred in connection with legal, administrative or investigative proceedings for any person who:

| ● | is or was a party or is threatened to be made                                                                                        
 a party to any threatened, pending or completed proceedings, whether civil, criminal, administrative or investigative, by reason of  
 the fact that the person is or was our director; or                                                                                  |
| ● | is or was, at our request, serving as a director                                                                                     
 or officer of, or in any other capacity is or was acting for, another body corporate or a partnership, joint venture, trust or other 
 enterprise.                                                                                                                          |

These indemnities only apply if the person acted honestly and in good faith with a view to our best interests and, in the case of criminal proceedings, the person had no reasonable cause to believe that his conduct was unlawful.

This standard of conduct is generally the same as permitted under the Delaware General Corporation Law for a Delaware corporation.

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