A De-SPAC Transaction must be made conditional on approval by the SPAC’s shareholders at a general meeting. Written shareholders’ approval will not be accepted in lieu of holding a general meeting.
Shareholders and their close associates must abstain from voting on the relevant resolution(s) at the general meeting referred to in rule 18B.53 if they have a material interest in the transaction.
Note: For the avoidance of doubt, SPAC Promoters and their respective close associates will be regarded by the Exchange as having a material interest in the transaction and must abstain from voting.
The terms of any third party investment to complete a De-SPAC Transaction must be the subject of the SPAC shareholders’ vote at the general meeting referred to in rule 18B.53.
Note: This matter may be voted on together with the De-SPAC Transaction as one resolution, or separately.