Company: NIVFW
Filing Date: 2025-05-29
Form Type: F-1/A
Source: 0001213900-25-048554
Chunk: 184

Company: NewGenIvf Group Ltd
Filing Date: 2025-05-29
Form: F-1/A
Chunk 184
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 a rate fixed from time to time by the board of directors prior to allocating to the holders of ordinary shares. In any event, such dividends to be allocated to the holders of preference shares shall not exceed 15% of the total amount of dividends declared from time to time; |

| (b) | After allocation of dividends as per (a) above, the rest of the dividends shall be distributed equally amongst the holders of ordinary shares according to their shareholding ratio; |

| (c) | The holders of preferred shares shall be entitled to dividends only in respect of the years for which the Company has declared a dividend payment, and there shall be no cumulative dividends; and |

| (d) | Dividends allocated to the holders of preferred shares in each year shall be limited at the rate as stated in (a) only. No additional dividends shall be paid to the holders of preferred shares. |

Based upon the management’s
judgement on the Shares Structure, as the Company is able to exercise majority voting power in any board meeting, the Company accounts
for Med Holdings and FFC as subsidiaries on the ground that the Company is able to control Med Holdings and FFC by exercising its majority
voting power in any board meetings.

On April 17, 2024, the Company entered into a non-binding term sheet
(the “Non-Binding Term Sheet”) with European Wellness Investment Holdings Limited (“EWIHL”) for (i) the potential
acquisition of the entire equity interest of EWIHL by the Company for a consideration of US$ to be payable by issuing
ordinary shares of the of the Company to the shareholder(s) of EWIHL or its associate and (ii) the fund-raising activity by the Company
from public or private shareholders, and in a form mutually acceptable to the parties, including structured equity investment for up to
US$ million. On December 11, 2024, NewGenIvf announced its entry into a binding term sheet with European Wellness Investment Holdings
Limited (“EWIHL”) for the above proposed reverse merger, completion of which was subject to, among other conditions, the completion
of due diligence, the negotiation of a definitive agreement, and obtaining adequate financing.

On May 24, 2024, the Company
received a deficiency letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying
the Company of its non-compliance with two (2) listing requirements for continued listing on Nasdaq pursuant to Nasdaq Listing