The Exchange announces that the listing of the Company's Securities will be cancelled with effect from 9:00 am on 10 April 2025 under Rule 18B.74.
The Company’s proposed six-month extension (the Proposed Extension) of the de-SPAC announcement deadline under Rule 18B.69 to 16 March 2025 (the Extended Deadline) was approved by its shareholders on 13 September 2024. Following the completion of the share redemption triggered by the Proposed Extension, the Company’s public float fell below 15 per cent. Accordingly, trading in the Company’s Securities has been suspended since 1 November 2024.
By the Extended Deadline, the Company has not finalised or announced the terms of any de-SPAC transaction. Pursuant to Rule 18B.74, the Company was required to return the funds held in the escrow account to its class A shareholders (the Return of Funds).
On 21 March 2025, the Listing Committee decided to cancel the listing of the Company’s Securities on the Exchange under Rule 18B.74 upon completion of the Return of Funds which was subsequently completed on 3 April 2025.
The Exchange has requested the Company to publish an announcement on the cancellation of its listing under Rule 18B.75.
The Exchange advises holders of the Company’s Securities who have any queries about the implications of the delisting to obtain appropriate professional advice.
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