Company: SDAWW
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036086
Chunk: 150

Company: SunCar Technology Group Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 10
Chunk 150
---
 ordinary shares.

Dividends. The
holders of SunCar’s ordinary shares are entitled to such dividends as may be declared by its Board of Directors subject to its Memorandum
and Articles of Association and the Companies Act. In addition, SunCar’s shareholders may by ordinary resolution declare a dividend,
but no dividend may exceed the amount recommended by its directors. SunCar’s Memorandum and Articles of Association provide that
dividends may be declared and paid out of SunCar’s profits, realized or unrealized, or from any reserve set aside from profits which
its Board of Directors determines is no longer needed. Dividends may also be declared and paid out of share premium account or any other
fund or account which can be authorized for this purpose in accordance with the Companies Act. No dividend may be declared and paid unless
SunCar’s directors determine that, immediately after the payment, SunCar will be able to pay its debts as they become due in the
ordinary course of business and SunCar has funds lawfully available for such purpose. Holders of SunCar Class A ordinary shares and SunCar
Class B ordinary shares will be entitled to the same amount of dividends, if declared.

Voting Rights. In
respect of all matters subject to a shareholders’ vote, each SunCar Class A ordinary share is entitled to one vote, and each SunCar
Class B ordinary share is entitled to 10 votes, voting together as one class. Voting at any meeting of shareholders is by poll and not
on a show of hands.

A quorum required for a meeting
of shareholders consists of two or more shareholders holding not less than one-half of the votes attaching to the issued and outstanding
shares entitled to vote at general meetings present in person or by proxy or, if a corporation or other non-natural person, by its duly
authorized representative. As a Cayman Islands exempted company, SunCar is not obliged by the Companies Act to call shareholders’
annual general meetings. SunCar’s Memorandum and Articles of Association provide that SunCar may (but are not obliged to) in each
year hold a general meeting as its annual general meeting in which case SunCar will specify the meeting as such in the notices calling
it, and the annual general meeting will be held at such time and place as may be determined by its directors. We, however, will hold an
annual shareholders’ meeting during each fiscal year, as required by the Nasdaq Listing Rules. Each general meeting, other than
an annual general