Corporate GovernanceJul 23, 2026, 04:21 PM
Zhibao Adopts Cayman Islands Home Country Practices
AI Summary
Zhibao Technology Inc., as a Foreign Private Issuer on the NASDAQ Capital Market, has elected to follow Cayman Islands home country practices instead of certain NASDAQ Listing Rules. Legal counsel Ogier (Cayman) LLP confirmed that these "Relevant Practices" are not prohibited by the company's Memorandum and Articles or the laws of the Cayman Islands. This allows the company to deviate from NASDAQ requirements regarding board independence, shareholder meetings, and shareholder approval for certain equity issuances.
Key Highlights
- Company adopts Cayman Islands home country practices.
- Exempt from NASDAQ rule 5605(b)(1) on majority independent directors.
- Exempt from NASDAQ rule 5605(b)(2) on independent director meetings.
- Exempt from NASDAQ rule 5620(a) on annual shareholder meetings.
- Exempt from NASDAQ rule 5620(b) on proxy solicitation.
- Exempt from NASDAQ rule 5635(a) on shareholder approval for 20% equity issuance.
- Exempt from NASDAQ rule 5635(b) on shareholder approval for change of control.
- Exempt from NASDAQ rule 5635(c) on shareholder approval for equity plans.
- Exempt from NASDAQ rule 5635(d) on shareholder approval for discounted issuances.
Price Impact
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