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Mobile-health Network Solutions, a company listed on the Nasdaq Capital Market, has disclosed its decision to follow certain home country corporate governance practices. This announcement was made in a filing with the Securities and Exchange Commission (SEC) on Friday. The company, incorporated in the Cayman Islands, is opting for exemptions allowed under Nasdaq Listing Rule 5615(a)(3)(A).
The exemptions include bypassing requirements for shareholder approval prior to issuing securities in connection with acquisitions and equity-based compensation. Additionally, the company will not require shareholder approval for securities issuances exceeding 20% of voting power at certain price conditions, nor will it distribute annual and interim reports or solicit proxies as typically mandated.
Mobile-health Network Solutions confirmed that its practices comply with the laws of the Cayman Islands, as certified by its legal counsel, Harney Westwood & Riegels Singapore LLP. The company’s principal executive offices are located in Singapore. This information is based on a press release statement.
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