Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 9

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 9
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. In accordance with Rule 5605(e)(2) of the Nasdaq rules, a majority of the independent directors may recommend
a director nominee for selection by our Board of Directors. Our Board of Directors believes that the independent directors can satisfactorily
carry out the responsibility of properly selecting or approving director nominees without the formation of a standing nominating committee.
The directors who participate in the consideration and recommendation of director nominees are Dr. Cosgrove, Ms. Grasso, and Mr. Capone.
In accordance with Rule 5605(e)(1)(A) of the Nasdaq rules, all such directors are independent. As there is no standing nominating
committee, we do not have a nominating committee charter in place.

29

The Board of Directors also
considers director candidates recommended for nomination by our shareholders during such times as they are seeking proposed nominees to
stand for appointment at the next annual general meeting (or, if applicable, an extraordinary general meeting). Our shareholders that
wish to nominate a director for appointment to our Board of Directors should follow the procedures set forth in our Amended and Restated
Memorandum.

We have not formally established
any specific, minimum qualifications that must be met or skills that are necessary for directors to possess. In general, in identifying
and evaluating nominees for director, our Board of Directors considers educational background, diversity of professional experience, knowledge
of our business, integrity, professional reputation, independence, wisdom, and the ability to represent the best interests of our shareholders.
Prior to our initial Business Combination, holders of our Public Shares do not have the right to recommend director candidates for nomination
to our Board of Directors.

Code of Ethics

We have adopted a Code of
Business Conduct and Ethics, applicable to our directors, officers and employees (the “Code of Ethics”). A copy of the Code
of Ethics and the charters of the committees of our Board of Directors will be provided without charge upon request from us. If we make
any amendments to our Code of Ethics other than technical, administrative or other non-substantive amendments, or grant any waiver,
including any implicit waiver, from a provision of the Code of Ethics applicable to our principal executive officer, principal financial
officer, principal accounting officer or controller or persons performing similar functions requiring disclosure under applicable SEC
or Nasdaq rules, we will disclose the nature of such amendment or waiver on our website. The information included on our website is not
incorporated by reference