Company: NTCL
Filing Date: 2025-02-18
Form Type: 20-F
Source: 0001410578-25-000153
Chunk: 139

Company: NetClass Technology Inc
Filing Date: 2025-02-18
Form: 20-F
Item: Item 10
Chunk 139
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ITEM 10. ADDITIONAL INFORMATION
10.A. Share Capital
Not Applicable.
10.B. Memorandum and Articles of Association
We were incorporated as an exempted company with limited liability under the laws of the Cayman Islands on January 4, 2022. Our affairs are governed by our amended and restated memorandum and articles, as amended and restated from time to time (and which is referred to in this section as, respectively, the “memorandum” and the “articles”), the Cayman Islands Companies Act, and the common law of the Cayman Islands. A Cayman Islands exempted company:

●   is a company that conducts its business mainly outside the Cayman Islands;
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●   is prohibited from trading in the Cayman Islands with any person, firm or corporation except in furtherance of the business of the exempted company carried on outside the Cayman Islands (and for this purpose can effect and conclude contracts in the Cayman Islands and exercise in the Cayman Islands all of its powers necessary for the carrying on of its business outside the Cayman Islands);
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●   does not have to hold an annual general meeting;
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●   does not have to make its register of members open to inspection by shareholders of that company;
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●   may obtain an undertaking against the imposition of any future taxation;
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●   may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands;
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●   may register as a limited duration company; and
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●   may register as a segregated portfolio company.
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Class A Ordinary Share and Class B Ordinary Share
Our authorized share capital is US$50,000 divided into 200,000,000 shares comprising of (i) 190,000,000 Class A ordinary shares of par value US$0.00025 each and (ii) 10,000,000 Class B ordinary shares of par value US$0.00025 each. As of the date of this annual report, 15,830,000 Class A ordinary shares and 2,000,000 Class B ordinary shares are issued and outstanding.
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Each Class B ordinary share is convertible into one (1) Class A ordinary share at any time at the option of the holder thereof. The right to convert shall be exercisable by the holder of the Class B ordinary share delivering a written notice to the Company that such holder elects to convert a specified