Company: GINT
Filing Date: 2025-08-21
Form Type: F-1/A
Source: 0001213900-25-079257
Chunk: 87

Company: Gifts International Holdings Ltd
Filing Date: 2025-08-21
Form: F-1/A
Chunk 87
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 Nasdaq rules and we will qualify for and may rely on exemptions from certain corporate governance requirements. We will be a “controlled company” within the meaning of Nasdaq Stock Market Rules. As of the date of this prospectus, our Controlling Shareholder, Mr.Ngai Chiu Wong, owns 8,248,500 Class B Ordinary Shares, representing approximately 94.26% of the total voting power of our Company. Following completion of this offering, giving effect to the sale of the Class A Ordinary Shares being offered hereby, 8,248,500 Class B Ordinary Shares, representing 93.46% of the total voting power of our Company, will be owned by Mr.Wong, assuming that the underwriters do not exercise their over -allotmentoption. Under Nasdaq rules, a company of which more than 50% of the voting power with respect to the election of directors is held by an individual, a company or a group of persons acting together is a “controlled company” and may elect not to comply with certain stock exchange rules regarding corporate governance, including the following requirements: •that a majority of its board of directors consists of independent directors; •that its director nominees be selected or recommended for the board’s selection by a majority of the board’s independent directors in a vote in which only independent directors participate or by a nominating committee comprised solely of independent directors, in either case, with a formal written charter or board resolutions, as applicable, addressing the nominations process and such related matters as may be required under the federal securities laws; and •that its compensation committee is composed solely of independent directors with a written charter addressing the committee’s purpose and responsibilities. 43 If we elect to be treated as a controlled company and use these exemptions, you may not have the same protections afforded to stockholders of companies that are subject to all of Nasdaq rules regarding corporate governance, which could make our Class A Ordinary Shares less attractive to investors or otherwise harm our stock price. Nasdaq Capital Market may apply additional and more stringent criteria for our initial and continued listing because we plan to have a small public offering and our insiders will hold a large portion of our listed securities. Under Section 101 of the Nasdaq Capital Market Company Guide, Nasdaq Capital Market has discretionary authority to deny initial listing, apply additional or more stringent criteria for the initial or continued listing of particular securities, or suspend or delist particular securities based on any event, condition, or circumstance that exists or occurs that makes initial or continued listing of the securities