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18B.12

At listing of the SPAC and on an ongoing basis for the lifetime of the SPAC, in addition to meeting the requirements of these rules, any director nominated by a SPAC Promoter for appointment to the board of a SPAC must be an officer (as defined under the SFO) of the SPAC Promoter (whether or not Commission licensed) representing the SPAC Promoter who nominated him or her.

Note:    Where a SPAC Promoter is an individual, that person must be a director of the SPAC.