Company: NIVFW
Filing Date: 2025-08-21
Form Type: DRS
Source: 0001213900-25-079301
Chunk: 202

Company: NewGenIvf Group Ltd
Filing Date: 2025-08-21
Form: DRS
Chunk 202
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 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$268,000,000 to be payable
by issuing 53,600,000 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$30 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 Rules.
On November 21, 2024, a delisting notice was received from the continued non-compliance. The Company had filed to appeal the delisting
determination and undertook several strategic actions to regain compliance with Nasdaq’s listing require. On February 27, 2025.
received approval for the transfer the Company’s securities from the Nasdaq Global Market to the Nasdaq Capital Market and on March