Company: BSAAR
Filing Date: 2025-01-10
Form Type: DRS
Source: 0001213900-25-002596
Chunk: 280

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-01-10
Form: DRS
Chunk 280
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 served on our Board of Directors. Code of Ethics Prior to the closing of this offering, we will have adopted a Code of Ethics applicable to our directors, officers and employees. We will file a copy of our form of Code of Ethics and our audit committee charter as exhibits to the registration statement. You will be able to review these documents by accessing our public filings at the SEC’s web site at www.sec.gov. In addition, a copy of the Code of Ethics will be provided without charge upon request from us. We intend to disclose any amendments to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8 -K. See “ Where You Can Find Additional Information.” Conflicts of Interest Under British Virgin Islands law, directors and officers owe the following fiduciary duties: •duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole; •duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose; •directors should not improperly fetter the exercise of future discretion; •duty to exercise powers fairly as between different classes of shareholders; •duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interests; and •duty to exercise independent judgment. 162 In addition to the above, directors also owe a duty of care. This duty has been defined as a requirement to act as a reasonably diligent director having both the general knowledge, skill and experience that may reasonably be expected of a director carrying out the same functions as are carried out by that director in relation to the company and the general knowledge skill and experience which that director has. As set out above, directors have a duty not to put themselves in a position of conflict and this includes a duty not to engage in self -dealing, or to otherwise benefit as a result of their position. However, pursuant to our amended and restated memorandum and articles of association, so long as a director has disclosed any interests in a transaction entered into or to be entered into by our company to the board he/she may: vote on a matter relating to the transaction; attend a meeting of directors at which a matter relating to the transaction arises and be included among the directors present at the meeting for the purposes of a quorum; and sign a document on behalf of our company, or do any other thing in his capacity as a director, that relates to the transaction. Our sponsor and its