Company: GVH
Filing Date: 2025-02-12
Form Type: 20-F
Source: 0001493152-25-006117
Chunk: 126

Company: Globavend Holdings Ltd
Filing Date: 2025-02-12
Form: 20-F
Item: Item 3
Chunk 126
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 country governance requirements and certain exemptions thereunder rather than complying with Nasdaq corporate governance standards.
We may choose to take advantage of the following exemptions afforded to foreign private issuers:

  Exemption from filing quarterly reports on Form 10-Q, from filing proxy                                                                     
  solicitation materials on Schedule 14A or 14C in connection with annual or special meetings of shareholders, from providing current         
  reports on Form 8-K disclosing significant events within four days of their occurrence, and from the disclosure requirements of Regulation  
  FD.                                                                                                                                         
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  Exemption from Section 16 rules regarding sales of Ordinary Shares                                                                          
  Exemption from the Nasdaq rules applicable to domestic issuers requiring                                                                    

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Furthermore, Nasdaq
Rule 5615(a)(3) provides that a foreign private issuer, such as us, may rely on our home country corporate governance practices in lieu
of certain of the rules in the Nasdaq Rule 5600 Series and Rule 5250(d), but we are required to comply with Nasdaq’s Notification
of Noncompliance requirement (Rule 5625), the Voting Rights requirement (Rule 5640), and that we have an audit committee that satisfies
Rule 5605(c)(3), consisting of committee members that meet the independence requirements of Rule 5605(c)(2)(A)(ii). If we rely on our
home country corporate governance practices in lieu of certain of the rules of Nasdaq, our shareholders may not have the same protections
afforded to shareholders of companies that are subject to all of the corporate governance requirements of Nasdaq. If we choose to do
so, we may utilize these exemptions for as long as we continue to qualify as a foreign private issuer.

Duties of Directors

As a matter of Cayman
Islands law, a director of a Cayman Islands company is in the position of a fiduciary with respect to the company and therefore it is
considered that he owes the following duties to the company - a duty to act bona fide in the best interests of the company, a duty
not to make a profit based on his or her position as director (unless the company permits him to do so) and a duty not to put himself
in a position where the interests of the company conflict with his or her personal interest or his or her duty to a third party.