Company: KMRK
Filing Date: 2025-06-25
Form Type: F-1/A
Source: 0001213900-25-057444
Chunk: 80

Company: K-TECH SOLUTIONS CO LTD
Filing Date: 2025-06-25
Form: F-1/A
Chunk 80
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 ownership may not be in the best interests of our other shareholders. 41 We will be a “controlled company” within the meaning of the Nasdaq Listing Rules and, as a result, may rely on exemptions from certain corporate governance requirements that provide protection to shareholders of other companies. On December2, 2024, Mr.Kwok Yiu Fai, Mr.Kwok Yiu Keung and Mr.Kwok Yiu Wah entered into an Acting in Concert Agreement pursuant to which they undertake that following the completion of this offering, the controlling shareholders shall act in concert in relation to all matters that require the decisions of the shareholders of the Company. As a result of the Acting in Concert Agreement, our Controlling Shareholders will collectively control 91.9% of the total voting power upon the completion of this offering. As a result of the Acting in Concert Agreement, our Controlling Shareholders hold a majority of the voting power of KTech and upon the completion of the IPO, we will be a “controlled company” as defined under the Nasdaq Listing Rules. For so long as we remain a controlled company under that definition, we are permitted to elect to rely, and may rely, on certain exemptions from corporate governance rules, including an exemption from the rule that a majority of our Board of Directors must be independent directors or that we have to establish a nominating committee and a compensation committee composed entirely of independent directors. As a result, you will not have the same protection afforded to shareholders of companies that are subject to these corporate governance requirements. However, following the IPO, we will voluntarily have a majority of independent directors and our audit committee will consist of three independent directors. 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 on Nasdaq Capital Market inadvisable or unwarranted in the opinion of Nasdaq Capital Market, even though the securities meet all enumerated criteria for initial or continued listing on Nasdaq Capital Market. Additionally, Nasdaq Capital Market has used its discretion to deny initial or continued listing or to apply additional and more stringent