Sentage Holdings (SNTG) outlines Nasdaq home country rule exemption
Rhea-AI Filing Summary
Sentage Holdings Inc. filed a report explaining a change in its corporate governance approach under Nasdaq rules. The board has chosen to use a home country rule exemption available to foreign private issuers, instead of following Nasdaq Listing Rule 5620(a), which requires listed companies to hold an annual shareholder meeting no later than one year after the end of each fiscal year. Sentage, incorporated in the Cayman Islands, will instead follow its home country practices on this specific requirement. The company states that, apart from this exemption and any items disclosed in other U.S. filings, its corporate governance practices do not significantly differ from those followed by U.S. companies listed on the Nasdaq Capital Market.
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FAQ
What corporate governance change did Sentage Holdings Inc. (SNTG) disclose?
Sentage Holdings Inc. disclosed that its board elected to use a home country rule exemption, allowing it to follow Cayman Islands practices instead of Nasdaq Listing Rule 5620(a) regarding the timing of annual shareholder meetings.
Which Nasdaq rule is Sentage Holdings Inc. (SNTG) exempting itself from?
The company is using an exemption from Nasdaq Listing Rule 5620(a), which otherwise requires a listed company to hold an annual meeting of shareholders no later than one year after the end of its fiscal year.
What is the basis for Sentage Holdings Inc. (SNTG) using the home country rule exemption?
Sentage is a foreign private issuer incorporated under Cayman Islands law and is relying on the home country rule exemption set forth under Nasdaq Listing Rule 5615 to follow its home country’s rules for annual meeting requirements.
Does Sentage Holdings Inc. (SNTG) differ significantly from U.S. Nasdaq companies in other governance areas?
The company states that, apart from the disclosed exemption or items in other U.S. filings, there are no significant differences between its corporate governance practices and those followed by U.S. domestic companies under Nasdaq Capital Market listing standards.
Will Sentage Holdings Inc. (SNTG) include this exemption in its next annual report?
Yes. The disclosure is intended for inclusion in Sentage Holdings Inc.’s next Form 20-F for the fiscal year ending December 31, 2025.
Why did Sentage Holdings Inc. (SNTG) file this information on Form 6-K?
The information is filed so that the company’s use of the home country rule exemption and related corporate governance disclosure can be incorporated into its upcoming Form 20-F as required for foreign private issuers.