Company: KMRK
Filing Date: 2025-03-25
Form Type: DRS/A
Source: 0001013762-25-001825
Chunk: 79

Company: K-TECH SOLUTIONS CO LTD
Filing Date: 2025-03-25
Form: DRS/A
Chunk 79
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 may take actions that may not be in the best interests of our other shareholders. As of the date of this prospectus, our Controlling Shareholders holds [84.6]% of our issued and outstanding Ordinary Shares. After this offering and the sale of our Shares by the Selling Shareholders pursuant to the Resale Prospectus, our Controlling Shareholders, the Controlling Shareholders will hold [76.4]% or more of our issued and outstanding Ordinary Shares or [91.8]% of the total voting power if the underwriters do not exercise their over -allotmentoption (or [*]% of our issued and outstanding Shares or [*]% of the total voting power if the underwriters exercise their over -allotmentoption). As a result, these shareholders will be able to control the management and affairs of our Company and most matters requiring shareholder approval, including the election of directors and approval of significant corporate transactions. The interests of these shareholders may not be the same as or may even conflict with your interests. For example, these shareholders could attempt to delay or prevent a change in control of us, even if such change in control would benefit our other shareholders, which could deprive our shareholders of an opportunity to receive a premium for their Shares as part of a sale of us or our assets, and might affect the prevailing market price of our Shares due to investors’ perceptions that conflicts of interest may exist or arise. As a result, this concentration of ownership may not be in the best interests of our other shareholders. 42 We will be a “controlled company” within the meaning of the Nasdaq Listing Rules and, as a result, may rely on exemptions from certain corporate governance requirements that provide protection to shareholders of other companies. On [*] 2024, Mr.Kwok Yiu Fai, Mr.Kwok Yiu Keung and Mr.Kwok Yiu Wah entered into an Acting in Concert Agreement pursuant to which they undertake that following the completion of this offering, the controlling shareholders shall act in concert in relation to all matters that require the decisions of the shareholders of the Company. As a result of the Acting in Concert Agreement, our Controlling Shareholders will collectively control [91.8]% of the total voting power upon the completion of this offering and the sale of our Class A Shares by the Selling Shareholders pursuant to the Resale Prospectus. As a result of the Acting in Concert Agreement, our Controlling Shareholders hold a majority of the voting power of KTech and upon the completion of the IPO,