Company: MASK
Filing Date: 2025-12-02
Form Type: POS AM
Source: 0001185185-25-001899
Chunk: 213

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-12-02
Form: POS AM
Chunk 213
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 be acquired, that he be provided compensation, that the Court regulate the future conduct of the company, or that any decision of the company which contravenes the BVI Act or our Amended and Restated Articles be set aside.

Derivative actions

Section 184C of the BVI Act provides that a shareholder of a company may, with the leave of the Court, bring an action in the name of the company in certain circumstances to redress any wrong done to it. Such actions are known as derivative actions. The BVI Court may only grant permission to bring a derivative action where the following circumstances apply:

| ● | the                                                                                             
 company does not intend to bring, diligently continue or defend or discontinue proceedings; and |

| ● | it                                                                                                                                 
 is in the interests of the company that the conduct of the proceedings not be left to the directors or to the determination of the 
 shareholders as a whole.                                                                                                           |

When considering whether to grant leave, the BVI Court is also required to have regard to the following matters:

| ● | whether                                  
 the shareholder is acting in good faith; |

| ● | whether                                                                                                                 
 a derivative action is in the company’s best interests, taking into account the directors’ views on commercial matters; |

| ● | whether                          
 the action is likely to proceed; |

| ● | the                                                                           
 costs of the proceedings in relation to the relief likely to be obtained; and |

| ● | whether                             
 an alternative remedy is available. |

Just and equitable winding up

In addition to the statutory remedies outlined above, shareholders can also petition the BVI Court for the winding up of a company under the BVI Insolvency Act, Revised Edition 2020, as amended for the appointment of a liquidator to liquidate the company and the court may appoint a liquidator for the company if it is of the opinion that it is just and equitable for the court to so order. Save in exceptional circumstances, this remedy is generally only available where the company has been operated as a quasi-partnership and trust and confidence between the partners has broken down.

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Indemnification of directors and executive officers and limitation of liability

Our Amended and Restated Articles provide that, subject to certain limitations, we 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