Company: KVACU
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001213900-25-021314
Chunk: 51

Company: Keen Vision Acquisition Corp.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1
Chunk 51
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 act in good faith in what the director believes to be in the best interests of the company as a whole;

    (2)
    duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose;

    (3)
    directors should not improperly fetter the exercise of future discretion;

    (4)
    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

    (5)
    duty to exercise independent judgment.

In addition to the above,
directors also owe a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably
diligent person having both the general knowledge, skill and experience that may reasonably be expected of a person 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, in some instances what would otherwise be a breach of this duty can be forgiven and/or authorized
in advance by the shareholders provided that there is full disclosure by the directors. This can be done by way of permission granted
in the amended and restated memorandum and articles of association or alternatively by shareholder approval at general meetings.

Accordingly, as a result of
multiple business affiliations, our officers and directors may have similar legal obligations relating to presenting business opportunities
meeting the above-listed criteria to multiple entities. In addition, conflicts of interest may arise when our board evaluates a particular
business opportunity with respect to the above-listed criteria. We cannot assure you that any of the above-mentioned conflicts will be
resolved in our favor. Furthermore, most of our officers and directors have pre-existing fiduciary obligations to other businesses of
which they are officers or directors. To the extent they identify business opportunities which may be suitable for the entities to which
they owe pre-existing fiduciary obligations, our officers and directors will honor those fiduciary obligations. Accordingly, it is possible
they may not present opportunities to us that otherwise may be attractive to us unless the entities to which they owe pre-existing fiduciary
obligations and any successors to such entities have declined to accept such opportunities.

In order to minimize potential
conflicts