GVH · Globavend Holdings Limited

The acquisition by Central Master Enterprises Limited, controlled by existing executives Mr. Tsz Ngo Yu (CFO) and Mr. Kai Man Fung (subsidiary director), establishes decisive control with 97.7% voting power despite only 2.4% economic ownership via management shares. This structure enables rapid strategic shifts without broad shareholder consensus. Board refresh includes Mr. Fung as Chairman, Mr. Yu adding directorship to his CFO duties, Mr. Tsui as independent director, and Mr. Cheung's exit, signaling a streamlined leadership aligned with new controllers. Mr. Yau's Chairman transition preserves operational continuity as CEO. Accompanying form of Executive Director Agreement (Exhibit 4.1) and Indemnification Agreement (Exhibit 4.2) standardize governance for new appointees, covering compensation, duties, confidentiality, and broad indemnification protections including expense advances. New controllers' corporate finance expertise positions Globavend for aggressive M&A and diversification beyond e-commerce logistics in Hong Kong, Australia, and New Zealand, potentially accelerating growth but introducing execution risks in unproven areas.