Company: FEBO
Filing Date: 2025-05-14
Form Type: 20-F
Source: 0001641172-25-010075
Chunk: 145

Company: Fenbo Holdings Ltd
Filing Date: 2025-05-14
Form: 20-F
Item: Item 10
Chunk 145
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Documents

Under
the Delaware General Corporation Act, a corporation’s governing documents may be amended with the approval of a majority of the
outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. As permitted by Cayman Islands law, our
Amended Memorandum and Articles of Association may only be amended by special resolution.

Rights of Non-Resident
or Foreign Shareholders

There
are no limitations imposed by our Amended Memorandum and Articles of Association on the rights of non-resident or foreign shareholders
to hold or exercise voting rights on our shares. In addition, there are no provisions in our Amended Memorandum and Articles of Association
governing the ownership threshold above which shareholder ownership must be disclosed.

Directors’ Power
to Issue Shares

Subject
to applicable law, our board of directors is empowered to issue or allot shares or grant options and warrants with or without preferred,
deferred, qualified or other special rights or restrictions.

Material Contracts

Our material contracts, other
than those entered into in the ordinary course of business, are described in Item 4, Item 6 and Item 7 or elsewhere in this Annual Report.

Dividends and Dividend Policy

No dividends
have been declared or paid by the companies comprising our Group for the financial year ended December 31, 2024.

We have
adopted a dividend policy, according to which our board of directors shall take into account, among other things, the following factors
when deciding whether to propose a dividend and in determining the dividend amount: (a) operating and financial results; (b) cash flow
situation; (c) business conditions and strategies; (d) future operations and earnings; (e) taxation considerations; (f) interim dividend
paid, if any; (g) capital requirement and expenditure plans; (h) interests of shareholders; (i) statutory and regulatory restrictions;
(j) any restrictions on payment of dividends; and (k) any other factors that our board may consider relevant. The payment of dividends,
in certain circumstances is also subject to the approval of our Shareholders, the Cayman Islands Companies Act and our Articles of Association
as well as any other applicable laws. Currently, we do not have any predetermined dividend distribution ratio.

  89  

Even
if our board of directors decides to pay dividends, the form, frequency and amount will depend upon our future operations and earnings,
capital requirements and surplus, general financial condition, contractual restrictions and other factors that the board of