Company: GINT
Filing Date: 2025-07-18
Form Type: F-1/A
Source: 0001213900-25-065552
Chunk: 150

Company: Gifts International Holdings Ltd
Filing Date: 2025-07-18
Form: F-1/A
Chunk 150
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 committee members satisfies the “independence” requirements of Rule 5605(a)(2) of the 104 Nasdaq Capital Market Company Guide. The nominating and corporate governance committee will assist the board of directors in selecting individuals qualified to become our directors and in determining the composition of the board and its committees. The nominating and corporate governance committee will be responsible for, among other things: •selecting and recommending to the board nominees for election by the shareholders or appointment by the board; •reviewing annually with the board the current composition of the board in regard to characteristics such as independence, knowledge, skills, experience, and diversity; •making recommendations on the frequency and structure of board meetings and monitoring the functioning of the committees of the board; and •advising the board periodically in regard to significant developments in the law and practice of corporate governance, as well as our compliance with applicable laws and regulations, and making recommendations to the board on all matters of corporate governance and on any remedial action to be taken. Controlled Company Exception We may also be eligible to utilize the controlled company exemptions under the Nasdaq corporate governance rules. We will be a “controlled company” within the meaning of Nasdaq rules. As of the date of this prospectus, Mr. Ngai Chiu Wong owns 8,248,500 Class B Ordinary Shares, representing 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] C lass 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 -allotment option. Under the 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 consist 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