Entire Section

  • Shareholder Vote

    • 18B.53

      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.

    • 18B.54

      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.

    • 18B.55

      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.