Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 241

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 241
---
2024, a bank loan of $1,643,993of the Company was guaranteed by Sun Lei and Li Huidan.

  27.      RIGHTS  

On March 12, 2021, the Company announced
the authorization and declaration of a dividend distribution of one right for each outstanding share of common stock, par value $0.0001per share, of the Company to stockholders of record as of the close of business on March 31, 2021. Each Right will entitle the holder
to purchase, for the Exercise Price of $50,0.00667of a share of Preferred Stock having economic and other terms similar to that of one
share of Common Stock. This portion of a share of Preferred Stock is intended to give the stockholder approximately the same dividend,
voting and liquidation rights as would one share of Common Stock, and should approximate the value of one share of Common Stock.

If an Acquiring Person obtains beneficial
ownership of15percent or more of the Common Stock, then each Right will entitle the holder thereof to purchase, for the Exercise Price,
a number of shares of Common Stock (or, in certain circumstances, cash, property or other securities of the Company) having a then-current
market value of twice the Exercise Price. All Rights that are or, under certain circumstances specified in the Rights Agreement, were
beneficially owned by an Acquiring Person or certain of its transferees will be void.

In general, if anyone acquires15% or
more of the common stock of the Company, the Rights will give rights holders, other than the Acquiring Person, to buy common stock at
lower price to significantly dilute the Acquiring Person. The Board adopted the Rights Agreement to protect stockholders from coercive
or otherwise unfair takeover tactics. In general terms, it works by imposing a significant penalty upon any person or group that acquires15percent or more of the shares of Common Stock without the approval of the Board. As a result, the overall effect of the Rights Agreement
and the issuance of the Rights may be to render more difficult or discourage a merger, tender or exchange offer or other business combination
involving the Company that is not approved by the Board.

F-35

As of December 31, 2024, there are4,233,272rights issued and outstanding. The number of the rights since issued has not been changed.

The Company classified the Rights as
permanent equity in the consolidated balance sheets because they