Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 84

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 6
Chunk 84
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 our board of directors adopted a clawback policy (the “ Clawback Policy”) permitting the Company to seek
the recoupment of incentive compensation received by any of the Company’s current and former executive officers (as determined
by the board in accordance with Section 10D of the Exchange Act and the Nasdaq rules) and such other senior executives/employees who
may from time to time be deemed subject to the Clawback Policy by the board (collectively, the “ Covered Executives”). The
amount to be recovered will be the excess of the incentive compensation paid to the Covered Executive based on the erroneous data over
the incentive compensation that would have been paid to the Covered Executive had it been based on the restated results, as determined
by the board. If the board cannot determine the amount of excess incentive compensation received by the Covered Executive directly from
the information in the accounting restatement, then it will make its determination based on a reasonable estimate of the effect of the
accounting restatement. For the year ended December 31, 2024, we had not sought any recoupment of incentive compensation of the Covered
Executives.

D.
Employees.

As
of December 31, 2024, we had 8 employees, comprising of 2 management personnel, 2 finance, administrative and compliance staff and 4
project execution staff.

We
enter into standard confidentiality and employment agreements with our employees. We believe that we maintain a good working relationship
with our employees and we have not experienced any material labor dispute.

E.
Share Ownership.

The
following table sets forth information regarding the beneficial ownership of our shares as of the date of this Annual Report by our officers,
directors, and 5% or greater beneficial owners of shares. There is no other person or group of affiliated persons known by us to beneficially
own more than 5% of our shares. Holders of our Class A ordinary shares are entitled to one (1) vote per share and holders of our Class
B ordinary shares are entitled to twenty (20) votes per share and vote on all matters submitted to a vote of our shareholders, except
as may otherwise be required by law.

We
have determined beneficial ownership in accordance with the rules of the SEC. These rules generally attribute beneficial ownership of
securities to persons who possess sole or shared voting power or investment power with respect to those securities. The person is also
deemed to be a beneficial owner of any security of which that person has a