# EDGAR Filing Document

**Accession Number:** 0001890361
**File Stem:** 0001213900-25-102571
**Filing Date:** 2025-10
**Character Count:** 116033
**Document Hash:** 7b83bc0f3ff2e391625b9a9f7bf09978
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-102571.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0001213900-25-102571

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251027

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Submission of Matters to a Vote of Security Holders

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ASPAC III Acquisition Corp.
- **CENTRAL INDEX KEY:** 0001890361
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42401
- **FILM NUMBER:** 251419917

**BUSINESS ADDRESS:**
- **STREET 1:** 200 GLOUCESTER ROAD
- **STREET 2:** 29TH FLOOR
- **CITY:** WANCHAI
- **STATE:** K3
- **ZIP:** 00000
- **BUSINESS PHONE:** 852 9258 9728

**MAIL ADDRESS:**
- **STREET 1:** 200 GLOUCESTER ROAD
- **STREET 2:** 29TH FLOOR
- **CITY:** WANCHAI
- **STATE:** K3
- **ZIP:** 00000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SPAC III Acquisition Corp.
- **DATE OF NAME CHANGE:** 20211025

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): October 27, 2025**

**A SPAC III Acquisition Corp.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **British Virgin Islands** | **001-42401** | **N/A** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (IRS Employer<br> Identification No.) |

---

**The Sun's Group Center, 29<sup>th</sup> Floor** **, 200 Gloucester Road**

**Wan Chai**

**Hong Kong**

(Address of principal executive offices, including zip code)

Registrant's telephone number, including area code: **+852 95833199**

**N/A**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Units, each consisting of one Class A ordinary share, with no par value, one-half of one redeemable warrant and one right to receive one-tenth of one Class A ordinary share | ASPCU | The Nasdaq Stock Market LLC |
| Class A ordinary shares included as part of the units | ASPC | The Nasdaq Stock Market LLC |
| Rights included as part of the units | ASPCR | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year**

As described below under Item 5.07 of this Current Report on Form 8-K, A SPAC III Acquisition Corp. (the "Company") held its extraordinary general meeting on October 27, 2025 (the "EGM") at which the shareholders voted on the proposal to amend and restate the Company's amended and restated memorandum and articles of association to allow the Company to extend the date by which it has to consummate a business combination for an additional twelve (12) months from November 12, 2025 to November 12, 2026 (the "Charter Amendment Proposal"). Shortly after the EGM, the Company filed the Amended and Restated Memorandum and Articles of Association (the "Amended Charter") with the Registrar of Corporate Affairs at the British Virgin Islands. Pursuant to the Amended Charter which is effective on October 27, 2025, the Company has up to 24 months from its initial public offering (i.e., until November 12, 2026) to consummate an initial business combination. A copy of the Amended Charter is filed as Exhibit 3.1 to this Current Report. The foregoing summary of the Amended Charter is subject to, and qualified in its entirely by, such document.

**Item 5.07. Submission of Matters to a Vote of Security Holders.**

On October 27, 2025 at 10:00 a.m. Eastern Time, the Company held its EGM at which the shareholders voted on the Charter Amendment Proposal with details set forth in the definitive proxy statement, filed by the Company with the Securities and Exchange Commission on October 10, 2025 and first mailed by the Company to its shareholders on or about October 10, 2025 (the "Proxy Statement").

As of October 6, 2025, the record date for the EGM, there were 8,055,000 ordinary shares outstanding and entitled to vote. At the EGM, there were 7,113,684 ordinary shares voted by proxy or in person, representing 88.31% of the total number of outstanding ordinary shares as of the record date, and constituting a quorum for the transaction of business. The shareholders approved the Charter Amendment Proposal at the EGM. The Charter Amendment Proposal is described in more detail in the Proxy Statement.

A summary of the voting results at the EGM is set forth below:

1. **Proposal No. 1 — The Charter Amendment Proposal**

---

| | | | |
|:---|:---|:---|:---|
| **FOR** | **AGAINST** | **ABSTAIN** | **BROKER NON-VOTE** |
| 4178733 | 2934951 | 0 | 0 |

---

Redemption of Ordinary Shares

An aggregate of 5,717,419 ordinary shares were tendered for redemption in connection with the EGM.

**Item 8.01. Other Events.**

On October 25, 2025, A SPAC III (Holdings) Corp. (the "Sponsor") entered into an assignment of economic interest agreement (the "Assignment of Economic Interest Agreement") with an unaffiliated third party. In exchange for such third party agreeing to vote 621,084 shares of the Company's Class A ordinary shares sold in its initial public offering in favor of the Charter Amendment Proposal, the Sponsor agreed to transfer to such third party or third parties an aggregate of 100,000 shares of the Company's Class B ordinary shares held by the Sponsor immediately following the release or expiration of any transfer restrictions after the consummation of an initial business combination.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

3.1 [Amended and Restated Memorandum and Articles of Association.](ea026260601ex3-1_aspac3.htm) <br> 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **A SPAC III Acquisition Corp.** | **A SPAC III Acquisition Corp.** |
|  | By: | /s/ Claudius Tsang |
|  | Name: | Claudius Tsang |
|  | Title: | Chief Executive Officer |
| Dated: October 27, 2025 |  |  |

---

## Exhibit 3.1

**Exhibit 3.1**

---

| |
|:---|
| &nbsp;&nbsp;**Territory of the British Virgin Islands**<br>**The BVI Business Companies Act, 2004** |
| &nbsp;&nbsp;<br> **amended and restated memorandum and articles of association<br> OF**<br> **A SPAC III ACQUISITION CORP.**<br>**Incorporated as a BVI Business Company on 3 September 2021**<br>Amended and Restated on 27 October 2025<br>|

---

![](ex3-1_001.jpg)

**TERRITORY OF THE BRITISH VIRGIN ISLANDS**

**THE BVI BUSINESS COMPANIES ACT 2004**

**AMENDED AND RESTATED**

**MEMORANDUM OF ASSOCIATION**

**OF**

**A SPAC III ACQUISITION CORP.**

**A COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED ON 27 OCTOBER 2025**

---

| | |
|:---|:---|
| **1** | **NAME** |

---

The name of the Company is A SPAC III Acquisition Corp..

---

| | |
|:---|:---|
| **2** | **STATUS** |

---

The Company shall be a company limited by shares.

---

| | |
|:---|:---|
| **3** | **REGISTERED OFFICE AND REGISTERED AGENT** |

---

3.1 The
 first registered office of the Company is at Ritter House, Wickhams Cay II, PO Box 3170,
 Road Town, Tortola VG 1110, British Virgin Islands, the office of the first registered agent.

3.2 The
 first registered agent of the Company is Ogier Global (BVI) Limited of Ritter House, Wickhams
 Cay II, PO Box 3170, Road Town, Tortola VG 1110, British Virgin Islands.

3.3 The
 Company may change its registered office or registered agent by a Resolution of Directors
 or a Resolution of Members. The change shall take effect upon the Registrar registering a
 notice of change filed under section 92 of the Act.

---

| | |
|:---|:---|
| **4** | **CAPACITY AND POWER** |

---

4.1 The
 Company has, subject to the Act and any other British Virgin Islands legislation for the
 time being in force, irrespective of corporate benefit:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) full
 capacity to carry on or undertake any business or activity, do any act or enter into any
 transaction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for
 the purposes of paragraph (a), full rights, powers and privileges.

4.2 There
 are subject to Clause 4.1 and Regulation 24, no limitations on the business that the Company
 may carry on.

---

| | |
|:---|:---|
| **5** | **NUMBER AND CLASSES OF SHARES** |

---

5.1 The
 Company is authorised to issue a maximum of 111,000,000 Shares with no par value divided
 into three classes of shares as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 100,000,000
 class A ordinary shares with no par value (**Class A Ordinary Shares**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 10,000,000
 class B ordinary shares with no par value (**Class B Ordinary Shares** and together with
 the Class A Ordinary Shares being referred to as the **Ordinary Shares**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 1,000,000
 preferred shares with no par value (**Preferred Shares**).

5.2 The
 Company may at the discretion of the Board of Directors, but shall not otherwise be obliged
 to, issue fractional Shares or round up or down fractional holdings of Shares to its nearest
 whole number and a fractional Share (if authorised by the Board of Directors) may have the
 corresponding fractional rights, obligations and liabilities of a whole share of the same
 class or series of shares.

---

| | |
|:---|:---|
| **6** | **DESIGNATIONS POWERS PREFERENCES OF SHARES** |

---

6.1 Save
 and except as otherwise set out in these Memorandum and Articles, and subject to Clause 7
 and the power of the Directors to issue Preference Shares with such preferred rights as they
 shall determine pursuant to Regulation 2.2, each Ordinary Share in the Company confers upon
 the Member (unless waived by such Member):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in
 respect of Class B Ordinary Shares only, the rights to convert into Class A Ordinary Shares
 in accordance with Regulation 3 and the rights to elect or remove directors prior to a Business
 Combination in accordance with Regulation 10;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject
 to Clause 11, the right to one vote at a meeting of the Members of the Company or on any
 Resolution of Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 right to be redeemed on a Termination Date Redemption Event in accordance with Regulation
 24.2 or pursuant to either a Tender Redemption Offer or Redemption Offer in accordance with
 Regulation 24.5 or pursuant to an Amendment Redemption Event in accordance with Regulation
 24.11;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 right to an equal share with each other Ordinary Share in any dividend paid by the Company;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) subject
 to satisfaction of and compliance with Regulation 24, the right to an equal share with each
 other Ordinary Share in the distribution of the surplus assets of the Company on its liquidation
 provided that in the event that the Company enters liquidation prior to or without having
 consummated a Business Combination then, in such circumstances, in the event any surplus
 assets (**Residual Assets**) of the Company remain following the Company having complied
 with its applicable obligations to redeem Public Shares and distribute the funds held in
 the Trust Account in respect of such redemptions pursuant to Regulation 24, the Public Shares
 shall not have any right to receive any share of those Residual Assets which are held outside
 the Trust Account and such Residual Assets shall be distributed (on a pro rata basis) only
 in respect of those Ordinary Shares that are not Public Shares.

6.2 The
 rights, privileges, restrictions and conditions attaching to the Preferred Shares shall be
 stated in this Memorandum, which shall be amended accordingly prior to the issue of such
 Preferred Shares. Such rights, privileges, restrictions and conditions may include subject
 to Regulation 24.7:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 number of shares and series constituting that class and the distinctive designation of that
 class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 dividend rate of the Preferred Shares of that class, if any, whether dividends shall be cumulative,
 and, if so, from which date or dates, and whether they shall be payable in preference to,
 or in relation to, the dividends payable on any other class or classes of Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) whether
 that class shall have voting rights, and, if so, the terms of such voting rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) whether
 that class shall have conversion or exchange privileges, and, if so, the terms and conditions
 of such conversion or exchange, including provision for adjustment of the conversion or exchange
 rate in such events as the Board of Directors shall determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) whether
 or not the Preferred Shares of that class shall be redeemable, and, if so, the terms and
 conditions of such redemption, including the manner of selecting such Shares for redemption
 if less than all Preferred Shares are to be redeemed, the date or dates upon or after which
 they shall be redeemable, and the amount per share payable in case of redemption, which amount
 maybe less than fair value and which may vary under different conditions and at different
 dates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) whether
 that class shall be entitled to the benefit of a sinking fund to be applied to the purchase
 or redemption of Preferred Shares of that class, and, if so, the terms and amounts of such
 sinking fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the
 right of the Preferred Shares of that class to the benefit of conditions and restrictions
 upon the creation of indebtedness of the Company or any subsidiary, upon the issue of any
 additional Preferred Shares (including additional Preferred Shares of such class of any other
 class) and upon the payment of dividends or the making of other distributions on, and the
 purchase, redemption or other acquisition or any subsidiary of any outstanding Preferred
 Shares of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the
 right of the Preferred Shares of that class in the event of any voluntary or involuntary
 liquidation, dissolution or winding up of the Company and whether such rights be in preference
 to, or in relation to, the comparable rights or any other class or classes of Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any
 other relative, participating, optional or other special rights, qualifications, limitations
 or restrictions of that class.

6.3 The
 Directors may at their discretion by Resolution of Directors redeem, purchase or otherwise
 acquire all or any of the Shares in the Company subject to Regulation 7 and Regulation 24
 of the Articles.

6.4 The
 Directors have the authority and the power by Resolution of Directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to
 authorise and create additional classes of shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to
 fix the designations, powers, preferences, rights, qualifications, limitations and restrictions,
 if any, appertaining to any and all classes of shares that may be authorised to be issued
 under this Memorandum.

---

| | |
|:---|:---|
| **7** | **VARIATION OF RIGHTS** |

---

7.1 Subject
 to the limitations set out in Clause 11 in respect of amendments to the Memorandum and Articles,
 the rights attached to a class of the Ordinary Shares as specified in Clause 6.1 (including
 the rights attached to Class B Ordinary Shares in Regulation 3 and 10) may only, whether
 or not the Company is being wound up, be varied by a resolution passed at a meeting by the
 holders of more than fifty percent (50%) of the total number of Ordinary Shares of that class
 that have voted (and are entitled to vote thereon) in relation to any such resolution, unless
 otherwise provided by the terms of issue of such class, and any such variation that has to
 be approved under this Clause 7.1 shall also be subject to compliance with Regulation 24.11
 of the Articles.

7.2 The
 rights attached to any Preferred Shares in issue as specified in Clause 6.2 may only, whether
 or not the Company is being wound up, be varied by a resolution passed at a meeting by the
 holders of more than fifty percent (50%) of the Preferred Shares of the same class present
 at a duly convened and constituted meeting of the Members of the Company holding Preferred
 Shares in such class which were present at the meeting and voted unless otherwise provided
 by the terms of issue of such class.

---

| | |
|:---|:---|
| **8** | **RIGHTS NOT VARIED BY THE ISSUE OF SHARES PARI PASSU** |

---

The rights conferred upon the holders of the Shares of any class issued with preferred or other rights shall not, unless otherwise expressly provided by the terms of issue of the Shares of that class, be deemed to be varied by the creation or issue of further Shares ranking pari passu therewith. For the avoidance of doubt, the creation, designation or issuance of any Preferred Shares with rights and privileges ranking in priority to any existing class of Shares pursuant to Clause 6.2 shall not be deemed to be a variation of the rights of such existing class.

---

| | |
|:---|:---|
| **9** | **REGISTERED SHARES** |

---

9.1 The
 Company shall issue registered shares only.

9.2 The
 Company is not authorised to issue bearer shares, convert registered shares to bearer shares
 or exchange registered shares for bearer shares.

---

| | |
|:---|:---|
| **10** | **TRANSFER OF SHARES** |

---

A Share may be transferred in accordance with Regulation 4 of the Articles.

---

| | |
|:---|:---|
| **11** | **AMENDMENT OF MEMORANDUM AND ARTICLES** |

---

11.1 The
 Company may amend its Memorandum or Articles by a Resolution of Members or by a Resolution
 of Directors, save that no amendment may be made by a Resolution of Directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to
 restrict the rights or powers of the Members to amend the Memorandum or Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to
 change the percentage of Members required to pass a Resolution of Members to amend the Memorandum
 or Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in
 circumstances where the Memorandum or Articles cannot be amended by the Members; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to
 change Clauses 7 or 8, this Clause 11 or Regulation 24 (or any of the defined terms used
 in any such Clause or Regulation).

11.2 Notwithstanding
 Clause 11.1, no amendment may be made to the Memorandum or Articles to amend:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Regulation
 24 prior to the Business Combination unless the holders of the Public Shares are provided
 with the opportunity to redeem their Public Shares upon the approval of any such amendment
 in the manner and for the price as set out in Regulation 24.11; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) this
 Clause 11.2 during the Target Business Acquisition Period.

---

| | |
|:---|:---|
| **12** | **DEFINITIONS AND INTERPRETATION** |

---

12.1 In
 this Memorandum of Association and the attached Articles of Association, if not inconsistent
 with the subject or context:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **Act** means the BVI Business Companies Act, 2004 (as amended) and includes the regulations made
 under the Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **AGM** means an annual general meeting of the Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Amendment** has the meaning ascribed to it in Regulation 24.11;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **Amendment Redemption Event** has the meaning ascribed to it in Regulation 24.11;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **Applicable Law** means, with respect to any person, all provisions of laws, statutes, ordinances,
 rules, regulations, permits, certificates, judgments, decisions, decrees or orders of any
 governmental authority applicable to such person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **Approved Amendment** has the meaning ascribed to it in Regulation 24.11;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **Articles** means the attached Articles of Association of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) **[intentionally omitted]**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **Board of Directors** means the board of directors of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) **Business Combination** shall mean the initial acquisition by the Company, whether through a merger,
 share exchange, share reconstruction or amalgamation, asset or share acquisition, a contractual
 arrangement or other similar business combination transaction, with a Target Business at
 Fair Value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) **Business Combination Articles** means Regulation 24 relating to the Company's obligations regarding
 the consummation of a Business Combination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) **Business Days** means a day other than a Saturday or Sunday or any other day on which commercial
 banks in New York are required or are authorised to be closed for business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) **Chairman** means a person who is appointed as chairman to preside at a meeting of the Company and **Chairman of the Board** means a person who is appointed as chairman to preside at a meeting of the
 Board of Directors of the Company, in each case, in accordance with the Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) **Designated Stock Exchange** means the Over-the-Counter Bulletin Board, the Global Select Market, Global
 Market or the Capital Market of the NASDAQ Stock Market LLC, the NYSE American or the New
 York Stock Exchange, as applicable; provided, however, that until the Shares are listed on
 any such Designated Stock Exchange, the rules of such Designated Stock Exchange shall be
 inapplicable to the Company and this Memorandum or the Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) **Director** means any director of the Company, from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) **Distribution** in relation to a distribution by the Company means the direct or indirect transfer of an
 asset, other than Shares, to or for the benefit of a Member in relation to Shares held by
 a Member, and whether by means of a purchase of an asset, the redemption or other acquisition
 of Shares, a distribution of indebtedness or otherwise, and includes a dividend;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) **Eligible Person** means individuals, corporations, trusts, the estates of deceased individuals,
 partnerships and unincorporated associations of persons;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) **Enterprise** means the Company and any other corporation, constituent corporation (including any constituent
 of a constituent) absorbed in a consolidation or merger to which the Company (or any of its
 wholly owned subsidiaries) is a party, limited liability company, partnership, joint venture,
 trust, employee benefit plan or other enterprise of which an Indemnitee is or was serving
 at the request of the Company as a Director, Officer, trustee, general partner, managing
 member, fiduciary, employee or agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) **Exchange Act** means the United States Securities Exchange Act of 1934, as amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) **Expenses** shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever,
 including, without limitation, all legal fees and costs, retainers, court costs, transcript
 costs, fees of experts, witness fees, travel expenses, fees of private investigators and
 professional advisors, duplicating costs, printing and binding costs, telephone charges,
 postage, delivery service fees, fax transmission charges, secretarial services and all other
 disbursements, obligations or expenses, in each case reasonably incurred in connection with
 prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing
 to be a witness in, settlement or appeal of, or otherwise participating in, a Proceeding,
 including reasonable compensation for time spent by the Indemnitee for which he or she is
 not otherwise compensated by the Company or any third party. Expenses shall also include
 any or all of the foregoing expenses incurred in connection with all judgments, liabilities,
 fines, penalties and amounts paid in settlement (including all interest, assessments and
 other charges paid or payable in connection with or in respect of such Expenses, judgments,
 fines, penalties and amounts paid in settlement) actually and reasonably incurred (whether
 by an Indemnitee, or on his behalf) in connection with such Proceeding or any claim, issue
 or matter therein, or any appeal resulting from any Proceeding, including without limitation
 the principal, premium, security for, and other costs relating to any cost bond, supersedeas
 bond, or other appeal bond or its equivalent, but shall not include amounts paid in settlement
 by an Indemnitee or the amount of judgments or fines against an Indemnitee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) **Fair Value** shall mean a value at least equal to 80% of the balance in the Trust Account (excluding
 any deferred underwriting fees and any taxes payable on the Trust Account balance) at the
 time of the execution of a definitive agreement for a Business Combination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) **Indemnitee** means any person detailed in sub regulations (a) and (b) of Regulation 16;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) **Initial Shareholders** means the Sponsor and any of the Directors or officers of the Company who
 hold shares prior to the IPO;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) **IPO** means the initial public offering of units, consisting of ordinary shares of the Company
 and rights to receive ordinary shares of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) **Member** means an Eligible Person whose name is entered in the share register of the Company as the
 holder of one or more Shares or fractional Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) **Memorandum** means this Memorandum of Association of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) **Officer** means any officer of the Company, from time to time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) **Ordinary Shares** has the meaning ascribed to it in Clause 5.1;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) **Over-Allotment Option** means the option of the Underwriters to purchase up to an additional 15% of the
 firm units sold in the IPO at a price equal to US$10.00 per unit, less underwriting discount
 and commissions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) **Per-Share Redemption Price** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) with
 respect to a Termination Date Redemption Event, the aggregate amount on deposit in the Trust
 Account including interest earned, but net of taxes payable and less up to US$100,000 of
 any interest earned to pay liquidation expenses, divided by the number of then outstanding
 Public Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) with
 respect to an Amendment Redemption Event, the aggregate amount on deposit in the Trust Account,
 including interest earned but net of taxes payable, divided by the number of then outstanding
 Public Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) with
 respect to either a Tender Redemption Offer or a Redemption Offer, the aggregate amount then
 on deposit in the Trust Account, including interest earned but net of taxes payable, on the
 date that is two Business Days prior to the consummation of the Business Combination, divided
 by the number of then outstanding Public Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) **Preferred Shares** has the meaning ascribed to it in Clause 5.1;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) **Proceeding** means any threatened, pending or completed action, suit, arbitration, mediation, alternate
 dispute resolution mechanism, investigation, inquiry, administrative hearing or any other
 actual, threatened or completed proceeding, whether brought in the name of the Company or
 otherwise and whether of a civil (including intentional or unintentional tort claims), criminal,
 administrative or investigative nature, in which an Indemnitee was, is, will or might be
 involved as a party or otherwise by reason of the fact that such Indemnitee is or was a Director
 or Officer of the Company, by reason of any action (or failure to act) taken by him or of
 any action (or failure to act) on his part while acting as a Director, Officer, employee
 or adviser of the Company, or by reason of the fact that he is or was serving at the request
 of the Company as a Director, Officer, trustee, general partner, managing member, fiduciary,
 employee, adviser or agent of any other Enterprise, in each case whether or not serving in
 such capacity at the time any liability or expense is incurred for which indemnification,
 reimbursement, or advancement of expenses can be provided under these Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) **Public Shares** means the Shares included in the units issued in the IPO;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh) **Redemption Offer** has the meaning ascribed to it in Regulation 24.5(b);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) **Registration Statement** has the meaning ascribed to it in Regulation 24.10;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) **relevant system** means a relevant system for the holding and transfer of shares in uncertificated
 form;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk) **Resolution of Directors** means either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) subject
 to sub-paragraph (ii) below, a resolution approved at a duly convened and constituted meeting
 of Directors of the Company or of a committee of Directors of the Company by the affirmative
 vote of a majority of the Directors present at the meeting who voted except that where a
 Director is given more than one vote, he shall be counted by the number of votes he casts
 for the purpose of establishing a majority; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a
 resolution consented to in writing by all Directors or by all members of a committee of Directors
 of the Company, as the case may be;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll) **Resolution of Members** means a resolution approved at a duly convened and constituted meeting of
 the Members of the Company by the affirmative vote of a majority of the votes of the Shares
 entitled to vote thereon which were present at the meeting and were voted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm) **Seal** means any seal which has been duly adopted as the common seal of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn) **SEC** means the United States Securities and Exchange Commission;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo) **Securities** means Shares, other securities and debt obligations of every kind of the Company, and including
 without limitation options, warrants, rights to receive Shares or other securities or debt
 obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp) **Securities Act** means the United States Securities Act of 1933, as amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq) **Share** means a share issued or to be issued by the Company and **Shares** shall be construed
 accordingly;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rr) **Sponsor** means A SPAC III (Holdings) Corp., a company incorporated in the British Virgin Islands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ss) **Sponsor Group** means the Sponsor and its respective affiliates, successors and assigns;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(tt) **Target Business** means any businesses or entity with whom the Company wishes to undertake a Business
 Combination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu) **Target Business Acquisition Period** shall mean the period commencing from the effectiveness of
 the registration statement filed with the SEC in connection with the Company's IPO up to
 and including the first to occur of (i) a Business Combination; or (ii) the Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vv) **Tender Redemption Offer** has the meaning ascribed to it in Regulation 24.5(a);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ww) **Termination Date** has the meaning given to it in Regulation 24.2;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) **Termination Date Redemption Event** shall have the meaning given to it in Regulation 24.2;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yy) **Treasury Share** means a Share that was previously issued but was repurchased, redeemed or otherwise
 acquired by the Company and not cancelled;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(zz) **Trust Account** shall mean the trust account established by the Company prior to the IPO and
 into which a certain amount of the IPO proceeds and the proceeds from a simultaneous private
 placement of like units comprising like securities to those in included in the IPO by the
 Company are deposited, interest on the balance of which may be released to the Company from
 to time to time to pay the Company's income or other tax obligations, and up to US$100,000
 of such interest on the balance of the Trust Account may also be released to pay the liquidation
 expenses of the Company if applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aaa) **Underwriter** means an underwriter of the IPO from time to time, and any successor underwriter; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bbb) **written** or any term of like import includes information generated, sent, received or stored by electronic,
 electrical, digital, magnetic, optical, electromagnetic, biometric or photonic means, including
 electronic data interchange, electronic mail, telegram, telex or telecopy, and "in writing"
 shall be construed accordingly.

12.2 In
 the Memorandum and the Articles, unless the context otherwise requires a reference to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a **Regulation** is a reference to a regulation of the Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a **Clause** is a reference to a clause of the Memorandum;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) voting
 by Member is a reference to the casting of the votes attached to the Shares held by the Member
 voting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 Act, the Memorandum or the Articles is a reference to the Act or those documents as amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the
 singular includes the plural and vice versa;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) where
 a meeting of (a) Members; (b) a class of Members; (c) the board of Directors; or (d) any
 committee of the Directors, is required to be convened for a place, such place may be a physical
 place, or a virtual place, or both, and where a meeting is convened for or including a virtual
 place any person, including the person duly appointed as the chairperson of such meeting,
 may attend such meeting by virtual attendance and such virtual attendance shall constitute
 presence in person at that meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the
 term "virtual place" includes a discussion facility or forum with a telephonic,
 electronic or digital identifier; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the
 term "virtual attendance" means attendance at a virtual place by means of conference
 telephone or other digital or electronic communications equipment or software or other facilities
 by means of which all the persons participating in the meeting can communicate with each
 other.

12.3 Any
 words or expressions defined in the Act unless the context otherwise requires bear the same
 meaning in the Memorandum and Articles unless otherwise defined herein.

12.4 Headings
 are inserted for convenience only and shall be disregarded in interpreting the Memorandum
 and Articles.

We, Ogier Global (BVI) Limited of Ritter House, Wickhams Cay II, PO Box 3170, Road Town, Tortola VG1110, British Virgin Islands, for the purpose of incorporating a BVI business company under the laws of the British Virgin Islands hereby sign this Memorandum of Association.

Dated 03 September 2021

Incorporator

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| |
|:---|
| **Signed for and on behalf of Ogier Global (BVI) Limited of Ritter House, Wickhams Cay II, PO Box 3170, Road Town, Tortola VG1110, British Virgin Islands**<br>SGD: Monique Adams |
| <br> **Signature of authorised signatory** |
| **Monique Adams** |
| <br> **Print name** |

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**TERRITORY OF THE BRITISH VIRGIN ISLANDS**

**THE BVI BUSINESS COMPANIES ACT 2004**

**AMENDED AND RESTATED**

**ARTICLES OF ASSOCIATION**

**OF**

**A SPAC III ACQUISITION CORP.**

**A COMPANY LIMITED BY SHARES**

**AMENDED AND RESTATED ON 27 october 2025**

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| | |
|:---|:---|
| **1** | **REGISTERED SHARES** |

---

1.1 Every
 Member is entitled to a certificate signed by a Director of the Company or under the Seal
 specifying the number of Shares held by him and the signature of the Director and the Seal
 may be facsimiles.

1.2 Any
 Member receiving a certificate shall indemnify and hold the Company and its Directors and
 officers harmless from any loss or liability which it or they may incur by reason of any
 wrongful or fraudulent use or representation made by any person by virtue of the possession
 thereof. If a certificate for Shares is worn out or lost it may be renewed on production
 of the worn out certificate or on satisfactory proof of its loss together with such indemnity
 as may be required by a Resolution of Directors.

1.3 If
 several Eligible Persons are registered as joint holders of any Shares, any one of such Eligible
 Persons may give an effectual receipt for any Distribution.

1.4 Nothing
 in these Articles shall require title to any Shares or other Securities to be evidenced by
 a certificate if the Act and the rules of the Designated Stock Exchange permit otherwise.

1.5 Subject
 to the Act and the rules of the Designated Stock Exchange, the Board of Directors without
 further consultation with the holders of any Shares or Securities may resolve that any class
 or series of Shares or other Securities in issue or to be issued from time to time may be
 issued, registered or converted to uncertificated form and the practices instituted by the
 operator of the relevant system. No provision of these Articles will apply to any uncertificated
 shares or Securities to the extent that they are inconsistent with the holding of such shares
 or securities in uncertificated form or the transfer of title to any such shares or securities
 by means of a relevant system.

1.6 Conversion
 of Shares held in certificated form into Shares held in uncertificated form, and vice versa,
 may be made in such manner as the Board of Directors, in its absolute discretion, may think
 fit (subject always to the requirements of the relevant system concerned). The Company or
 any duly authorised transfer agent shall enter on the register of members how many Shares
 are held by each member in uncertificated form and certificated form and shall maintain the
 register of members in each case as is required by the relevant system concerned. Notwithstanding
 any provision of these Articles, a class or series of Shares shall not be treated as two
 classes by virtue only of that class or series comprising both certificated shares and uncertificated
 shares or as a result of any provision of these Articles which applies only in respect of
 certificated shares or uncertificated shares.

1.7 Nothing
 contained in Regulation 1.5 and 1.6 is meant to prohibit the Shares from being able to trade
 electronically. For the avoidance of doubt, Shares shall only be traded and transferred electronically
 upon consummation of the IPO.

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| | |
|:---|:---|
| **2** | **SHARES** |

---

2.1 Subject
 to the provisions of these Articles and, where applicable, the rules of the Designated Stock
 Exchange, the unissued Shares of the Company shall be at the disposal of the Directors and
 Shares and other Securities may be issued and option to acquire Shares or other Securities
 may be granted at such times, to such Eligible Persons, for such consideration and on such
 terms as the Directors may by Resolution of Directors determine, save that the Directors
 may not allot, issue, grant options over or otherwise deal with any unissued Shares to the
 extent that it may affect the ability of the Company to carry out a Class B Ordinary Share
 conversion described at Regulation 3.

2.2 Without
 prejudice to any special rights previously conferred on the holders of any existing Preferred
 Shares, any Preferred Shares may be issued with such preferred, deferred or other special
 rights or such restrictions, whether in regard to dividend, voting or otherwise as the Directors
 may from time to time determine subject to Regulation 24.7.

2.3 Section
 46 of the Act does not apply to the Company.

2.4 A
 Share may be issued for consideration in any form, including money, a promissory note, real
 property, personal property (including goodwill and know-how) or a contract for future services.

2.5 No
 Shares may be issued for a consideration other than money, unless a Resolution of Directors
 has been passed stating:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 amount to be credited for the issue of the Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that,
 in their opinion, the present cash value of the non-money consideration for the issue is
 not less than the amount to be credited for the issue of the Shares.

2.6 The
 Company shall keep a register (the **share register**) containing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 names and addresses of the persons who hold Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 number of each class and series of Shares held by each Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 date on which the name of each Member was entered in the share register; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 date on which any Eligible Person ceased to be a Member.

2.7 The
 share register may be in any such form as the Directors may approve, but if it is in magnetic,
 electronic or other data storage form, the Company must be able to produce legible evidence
 of its contents. Until the Directors otherwise determine, the magnetic, electronic or other
 data storage form shall be the original share register.

2.8 A
 Share is deemed to be issued when the name of the Member is entered in the share register.

2.9 Subject
 to the provisions of the Act and the Business Combination Articles, Shares may be issued
 on the terms that they are redeemable, or at the option of the Company be liable to be redeemed
 on such terms and in such manner as the Directors before or at the time of the issue of such
 Shares may determine. The Directors may issue options, warrants, rights or convertible securities
 or securities of a similar nature conferring the right upon the holders thereof to subscribe
 for, purchase or receive any class of Shares or Securities on such terms as the Directors
 may from time to time determine. Notwithstanding the foregoing, the Directors may also issue
 options, warrants, rights to acquire or receive shares or convertible securities in connection
 with the Company's IPO.

2.10 With
 respect to redeeming or repurchasing the Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Members
 who hold Public Shares are entitled to request the redemption of such Shares in the circumstances
 described in Regulation 24.5;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Class
 B Ordinary Shares held by the Sponsor shall, following consummation of the IPO, be surrendered
 by the Sponsor on a pro rata basis for no consideration to the extent that the Over-Allotment
 Option is not exercised in full so that the Class B Ordinary Shares will at all times represent
 20% of the Company's issued Shares after the IPO; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Public
 Shares shall be repurchased by way of tender offer in the circumstances set out in Regulation
 24.5.

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| | |
|:---|:---|
| **3** | **Class B Ordinary Share Conversion** |

---

3.1 The
 rights attaching to the Class A Ordinary Shares and Class B Ordinary Shares shall rank pari
 passu in all respects, and the Class A Ordinary Shares and Class B Ordinary Shares shall
 vote together as a single class on all matters (subject to Clause 7 of the Memorandum and
 Regulation 10.1 of the Articles) with the exception that the holder of a Class B Share shall
 have the conversion rights referred to in this Regulation 3.

3.2 Class
 B Ordinary Shares shall convert into Class A Ordinary Shares on a one-for-one basis (the **Initial Conversion Ratio**): (a) at any time and from time to time at the option of
 the holders thereof; or (b) automatically at the time of the consummation of the Company's
 Business Combination.

3.3 Notwithstanding
 the Initial Conversion Ratio, in the case that additional Class A Ordinary Shares or any
 other equity-linked securities, are issued, or deemed issued, by the Company in excess of
 the amounts offered in the IPO and related to the consummation of a Business Combination,
 all issued Class B Ordinary Shares shall automatically be converted into such number of Class
 A Ordinary Shares on the first business day following the consummation of the Company's Business
 Combination at a ratio for which the Class B Ordinary
 Shares shall convert into Class A Ordinary Shares will be adjusted (unless the holders of
 a majority of the Class B Ordinary Shares in issue agree to waive such anti-dilution adjustment
 with respect to any such issuance or deemed issuance) so that the number of Class A Ordinary
 Shares issuable upon conversion of all Class B Ordinary Shares will equal, in the
 aggregate, on an as-converted basis, to 20% of the sum of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all
 Class A Ordinary Shares and Class B Ordinary Shares issued and outstanding upon completion
 of the IPO, including pursuant to the Over-Allotment Option, plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all
 Class A Ordinary Shares issued or deemed issued, or issuable upon the conversion or exercise
 of any equity-linked securities issued or deemed issued in connection with or in relation
 to the Business Combination, excluding any shares or equity-linked securities issued, or
 to be issued, to any seller in the Business Combination and any private placement-equivalent
 units issued to the Sponsor or its affiliates upon conversion of working capital loans made
 to the Company.

3.4 Notwithstanding
 anything to the contrary contained herein, the foregoing adjustment to the Initial Conversion
 Ratio may be waived as to any particular issuance or deemed issuance of additional Class
 A Ordinary Shares or equity-linked securities by the written consent or agreement of holders
 of a majority of the Class B Ordinary Shares then in issue consenting or agreeing separately
 as a separate class in the manner provided in Clause 7 of the Memorandum.

3.5 The
 foregoing conversion ratio shall also be adjusted to account for any subdivision (by share
 subdivision, exchange, capitalisation, rights issue, reclassification, recapitalisation or
 otherwise) or combination (by share consolidation, exchange, reclassification, recapitalisation
 or otherwise) or similar reclassification or recapitalisation of the Class A Ordinary Shares
 in issue into a greater or lesser number of shares occurring after the original filing of
 the Articles without a proportionate and corresponding subdivision, combination or similar
 reclassification or recapitalisation of the Class B Ordinary Shares in issue.

3.6 Each
 Class B Share shall convert into its pro rata number of Class A Ordinary Shares as set forth
 in this Regulation 3. The pro rata share for each holder of Class B Ordinary Shares will
 be determined as follows: Each Class B Ordinary Share shall convert into such number of Class
 A Ordinary Shares as is equal to the product of 1 multiplied by a fraction, the numerator
 of which shall be the total number of Class A Ordinary Shares into which all of the issued
 Class B Ordinary Shares shall be converted pursuant to this Regulation 3 and the denominator
 of which shall be the total number of issued Class B Ordinary Shares at the time of conversion.

3.7 References
 in this Regulation 3 to "converted", "conversion" or "exchange"
 shall mean the compulsory redemption without notice of Class B Ordinary Shares of any Member
 and, on behalf of such Members, automatic application of such redemption proceeds in paying
 for such new Class A Ordinary Shares into which the Class B Ordinary Shares have been converted
 or exchanged at a price per Class B Ordinary Share necessary to give effect to a conversion
 or exchange. The Class A Ordinary Shares to be issued on an exchange or conversion shall
 be registered in the name of such Member or in such name as the Member may direct.

3.8 Notwithstanding
 anything to the contrary in this Regulation 3, in no event may any Class B Ordinary Share
 convert into Class A Ordinary Shares at a ratio that is less than one-for-one.

3.9 The
 directors shall not allot or issue Class A Ordinary Shares such that the number of authorised
 but unissued Class A Ordinary Shares would at any time be insufficient to permit the conversion
 of all Class B Ordinary Shares from time to time issued into Class A Ordinary Shares.

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| | |
|:---|:---|
| **4** | **FORFEITURE** |

---

4.1 Shares
 that are not fully paid on issue are subject to the forfeiture provisions set forth in this
 Regulation and for this purpose Shares issued for a promissory note or a contract for future
 services are deemed to be not fully paid.

4.2 A
 written notice of call specifying the date for payment to be made shall be served on the
 Member who defaults in making payment in respect of the Shares.

4.3 The
 written notice of call referred to in Regulation 4.2 shall name a further date not earlier
 than the expiration of 14 days from the date of service of the notice on or before which
 the payment required by the notice is to be made and shall contain a statement that in the
 event of non-payment at or before the time named in the notice the Shares, or any of them,
 in respect of which payment is not made will be liable to be forfeited.

4.4 Where
 a written notice of call has been issued pursuant to Regulation 4.2 and the requirements
 of the notice have not been complied with, the Directors may, at any time before tender of
 payment, forfeit and cancel the Shares to which the notice relates.

4.5 The
 Company is under no obligation to refund any moneys to the Member whose Shares have been
 cancelled pursuant to Regulation 4.4 and that Member shall be discharged from any further
 obligation to the Company.

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| | |
|:---|:---|
| **5** | **TRANSFER OF SHARES** |

---

5.1 Subject
 to the Memorandum, certificated shares may be transferred by a written instrument of transfer
 signed by the transferor and containing the name and address of the transferee, which shall
 be sent to the Company for registration. A member shall be entitled to transfer uncertificated
 shares by means of a relevant system and the operator of the relevant system shall act as
 agent of the Members for the purposes of the transfer of such uncertificated shares.

5.2 The
 transfer of a Share is effective when the name of the transferee is entered on the share
 register.

5.3 If
 the Directors of the Company are satisfied that an instrument of transfer relating to Shares
 has been signed but that the instrument has been lost or destroyed, they may resolve by Resolution
 of Directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to
 accept such evidence of the transfer of Shares as they consider appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that
 the transferee's name should be entered in the share register notwithstanding the absence
 of the instrument of transfer.

5.4 Subject
 to the Memorandum, the personal representative of a deceased Member may transfer a Share
 even though the personal representative is not a Member at the time of the transfer.

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| | |
|:---|:---|
| **6** | **DISTRIBUTIONS** |

---

6.1 Subject
 to the Business Combination Articles, the Directors of the Company may, by Resolution of
 Directors, authorise a distribution at a time and of an amount they think fit if they are
 satisfied, on reasonable grounds, that, immediately after the distribution, the value of
 the Company's assets will exceed its liabilities and the Company will be able to pay its
 debts as and when they fall due.

6.2 Dividends
 may be paid in money, shares, or other property.

6.3 The
 Company may, by Resolution of Directors, from time to time pay to the Members such interim
 dividends as appear to the Directors to be justified by the profits of the Company, provided
 always that they are satisfied, on reasonable grounds, that, immediately after the distribution,
 the value of the Company's assets will exceed its liabilities and the Company will be able
 to pay its debts as and when they fall due.

6.4 Notice
 in writing of any dividend that may have been declared shall be given to each Member in accordance
 with Regulation 22 and all dividends unclaimed for three years after such notice has been
 given to a Member may be forfeited by Resolution of Directors for the benefit of the Company.

6.5 No
 dividend shall bear interest as against the Company.

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| | |
|:---|:---|
| **7** | **REDEMPTION OF SHARES AND TREASURY SHARES** |

---

7.1 The
 Company may purchase, redeem or otherwise acquire and hold its own Shares save that the Company
 may not purchase, redeem or otherwise acquire its own Shares without the consent of the Member
 whose Shares are to be purchased, redeemed or otherwise acquired unless the Company is permitted
 or required by the Act or any other provision in the Memorandum or Articles to purchase,
 redeem or otherwise acquire the Shares without such consent.

7.2 The
 purchase, redemption or other acquisition by the Company of its own Shares is deemed not
 to be a distribution where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Company purchases, redeems or otherwise acquires the Shares pursuant to a right of a Member
 to have his Shares redeemed or to have his shares exchanged for money or other property of
 the Company, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Company purchases, redeems or otherwise acquires the Shares by virtue of the provisions of
 section 179 of the Act.

7.3 Sections
 60, 61 and 62 of the Act shall not apply to the Company.

7.4 Subject
 to the provisions of Regulation 24, shares that the Company purchases, redeems or otherwise
 acquires pursuant to this Regulation may be cancelled or held as Treasury Shares except to
 the extent that such Shares are in excess of 50 percent of the issued Shares in which case
 they shall be cancelled but they shall be available for reissue.

7.5 All
 rights and obligations attaching to a Treasury Share are suspended and shall not be exercised
 by the Company while it holds the Share as a Treasury Share.

7.6 Treasury
 Shares may be disposed of by the Company on such terms and conditions (not otherwise inconsistent
 with the Memorandum and Articles) as the Company may by Resolution of Directors determine.

7.7 Where
 Shares are held by another body corporate of which the Company holds, directly or indirectly,
 shares having more than 50 per cent of the votes in the election of Directors of the other
 body corporate, all rights and obligations attaching to the Shares held by the other body
 corporate are suspended and shall not be exercised by the other body corporate.

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| | |
|:---|:---|
| **8** | **MORTGAGES AND CHARGES OF SHARES** |

---

8.1 Unless
 a Member agrees otherwise, a Member may by an instrument in writing mortgage or charge his
 Shares.

8.2 There
 shall be entered in the share register at the written request of the Member:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) a
 statement that the Shares held by him are mortgaged or charged;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 name of the mortgagee or chargee; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 date on which the particulars specified in subparagraphs (a) and (b) are entered in the share
 register.

8.3 Where
 particulars of a mortgage or charge are entered in the share register, such particulars may
 be cancelled:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) with
 the written consent of the named mortgagee or chargee or anyone authorised to act on his
 behalf; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) upon
 evidence satisfactory to the Directors of the discharge of the liability secured by the mortgage
 or charge and the issue of such indemnities as the Directors shall consider necessary or
 desirable.

8.4 Whilst
 particulars of a mortgage or charge over Shares are entered in the share register pursuant
 to this Regulation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) no
 transfer of any Share the subject of those particulars shall be effected;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 Company may not purchase, redeem or otherwise acquire any such Share; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) no
 replacement certificate shall be issued in respect of such Shares,

without the written consent of the named mortgagee or chargee.

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| | |
|:---|:---|
| **9** | **MEETINGS AND CONSENTS OF MEMBERS** |

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9.1 Any
 Director of the Company may convene meetings of the Members at such times and in such manner
 and places within or outside the British Virgin Islands as the Director considers necessary
 or desirable. Following consummation of the Business Combination, an AGM shall be held annually
 at such date and time as may be determined by the Directors.

9.2 Upon
 the written request of the Members entitled to exercise 30 percent or more of the voting
 rights in respect of the matter for which the meeting is requested the Directors shall convene
 a meeting of Members.

9.3 The
 Director convening a meeting of Members shall give not less than 10 nor more than 60 days'
 written notice of such meeting to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) those
 Members whose names on the date the notice is given appear as Members in the share register
 of the Company and are entitled to vote at the meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 other Directors.

9.4 The
 Director convening a meeting of Members shall fix in the notice of the meeting the record
 date for determining those Members that are entitled to vote at the meeting.

9.5 A
 meeting of Members held in contravention of the requirement to give notice is valid if Members
 holding at least 90 per cent of the total voting rights on all the matters to be considered
 at the meeting have waived notice of the meeting and, for this purpose, the presence of a
 Member at the meeting shall constitute waiver in relation to all the Shares which that Member
 holds.

9.6 The
 inadvertent failure of a Director who convenes a meeting to give notice of a meeting to a
 Member or another Director, or the fact that a Member or another Director has not received
 notice, does not invalidate the meeting.

9.7 A
 Member may be represented at a meeting of Members by a proxy who may speak and vote on behalf
 of the Member.

9.8 The
 instrument appointing a proxy shall be produced at the place designated for the meeting before
 the time for holding the meeting at which the person named in such instrument proposes to
 vote.

9.9 The
 instrument appointing a proxy shall be in substantially the following form or such other
 form as the chairman of the meeting shall accept as properly evidencing the wishes of the
 Member appointing the proxy.

A SPAC III Acquisition Corp.

I/We being a Member of the above Company HEREBY APPOINT ……………………………………………………………………………..…… of ……………………………………...……….…………..………… or failing him …..………………………………………………….…………………….. of ………………………………………………………..…..…… to be my/our proxy to vote for me/us at the meeting of Members to be held on the …… day of …………..…………, 20…… and at any adjournment thereof.

(Any restrictions on voting to be inserted here.)

Signed this …… day of …………..…………, 20……

……………………………

Member

9.10 The
 following applies where Shares are jointly owned:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) if
 two or more persons hold Shares jointly each of them may be present in person or by proxy
 at a meeting of Members and may speak as a Member;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if
 only one of the joint owners is present in person or by proxy he may vote on behalf of all
 joint owners; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if
 two or more of the joint owners are present in person or by proxy they must vote as one and
 in the event of disagreement between any of the joint owners of Shares then the vote of the
 joint owner whose name appears first (or earliest) in the share register in respect of the
 relevant Shares shall be recorded as the vote attributable to the Shares.

9.11 A
 Member shall be deemed to be present at a meeting of Members if he participates by telephone
 or other electronic means and all Members participating in the meeting are able to hear each
 other.

9.12 A
 meeting of Members is duly constituted if, at the commencement of the meeting, there are
 present in person or by proxy not less than 50 per cent of the votes of the Shares entitled
 to vote on Resolutions of Members to be considered at the meeting. If the Company has two
 or more classes of shares, a meeting may be quorate for some purposes and not for others.
 A quorum may comprise a single Member or proxy and then such person may pass a Resolution
 of Members and a certificate signed by such person accompanied where such person holds a
 proxy by a copy of the proxy instrument shall constitute a valid Resolution of Members.

9.13 If
 within two hours from the time appointed for the meeting of Members, a quorum is not present,
 the meeting, at the discretion of the Chairman of the Board of Directors shall either be
 dissolved or stand adjourned to a business day in the jurisdiction in which the meeting was
 to have been held at the same time and place, and if at the adjourned meeting there are present
 within one hour from the time appointed for the meeting in person or by proxy not less than
 one third of the votes of the Shares entitled to vote or each class or series of Shares entitled
 to vote, as applicable, on the matters to be considered by the meeting, those present shall
 constitute a quorum but otherwise the meeting shall either be dissolved or stand further
 adjourned at the discretion of the Chairman of the Board of Directors.

9.14 At
 every meeting of Members, the Chairman of the Board shall preside as chairman of the meeting.
 If there is no Chairman of the Board or if the Chairman of the Board is not present at the
 meeting, the Members present shall choose one of their number to be the chairman. If the
 Members are unable to choose a chairman for any reason, then the person representing the
 greatest number of voting Shares present in person or by proxy at the meeting shall preside
 as chairman failing which the oldest individual Member or representative of a Member present
 shall take the chair.

9.15 The
 person appointed as chairman of the meeting pursuant to Regulation 9.14 may adjourn any meeting
 from time to time, and from place to place. For the avoidance of doubt, a meeting can be
 adjourned for as many times as may be determined to be necessary by the chairman and a meeting
 may remain open indefinitely for as long a period as may be determined by the chairman.

9.16 Voting
 at any meeting of the Members is by show of hands unless a poll is demanded by the chairman.
 On a show of hands every Member who is present in person (or, in the case of a Member being
 a corporation, by its duly authorized representative) or by proxy shall have one vote and
 on a poll every Member shall present in person (or, in the case of a Member being a corporation,
 by its duly authorized representative) or by proxy shall have one vote for each Share which
 such Member is the holder. Any Member present in person or by proxy who disputes the announcement
 by the chairman of the result of any vote may immediately following such announcement demand
 that a poll be taken and the chairman shall cause a poll to be taken. If a poll is taken
 at any meeting, the result shall be announced to the meeting and recorded in the minutes
 of the meeting.

9.17 Subject
 to the specific provisions contained in this Regulation for the appointment of representatives
 of Members other than individuals the right of any individual to speak for or represent a
 Member shall be determined by the law of the jurisdiction where, and by the documents by
 which, the Member is constituted or derives its existence. In case of doubt, the Directors
 may in good faith seek legal advice and unless and until a court of competent jurisdiction
 shall otherwise rule, the Directors may rely and act upon such advice without incurring any
 liability to any Member or the Company.

9.18 Any
 Member other than an individual may by resolution of its Directors or other governing body
 authorise such individual as it thinks fit to act as its representative at any meeting of
 Members or of any class of Members, and the individual so authorised shall be entitled to
 exercise the same rights on behalf of the Member which he represents as that Member could
 exercise if it were an individual.

9.19 The
 chairman of any meeting at which a vote is cast by proxy or on behalf of any Member other
 than an individual may at the meeting but not thereafter call for a notarially certified
 copy of such proxy or authority which shall be produced within 7 days of being so requested
 or the votes cast by such proxy or on behalf of such Member shall be disregarded.

9.20 Directors
 of the Company may attend and speak at any meeting of Members and at any separate meeting
 of the holders of any class or series of Shares.

9.21 Until
 the consummation of the Company's IPO, any action that may be taken by the Members at a meeting
 may also be taken by a Resolution of Members consented to in writing, without the need for
 any prior notice. If any Resolution of Members is adopted otherwise than by the unanimous
 written consent of all Members, a copy of such resolution shall forthwith be sent to all
 Members not consenting to such resolution. The consent may be in the form of counterparts,
 each counterpart being signed by one or more Members. If the consent is in one or more counterparts,
 and the counterparts bear different dates, then the resolution shall take effect on the earliest
 date upon which Eligible Persons holding a sufficient number of votes of Shares to constitute
 a Resolution of Members have consented to the resolution by signed counterparts. Following
 the Company's IPO, any action required or permitted to be taken by the Members of the Company
 must be effected by a meeting of the Company, such meeting to be duly convened and held in
 accordance with these Articles.

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| | |
|:---|:---|
| **10** | **DIRECTORS** |

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10.1 Prior
 to the closing of a Business Combination, the Directors shall be elected or removed by Resolution
 of Members of the Class B Ordinary Shares for such term as the Members determine. For the
 avoidance of doubt, prior to the closing of a Business Combination holders of Class A Ordinary
 Shares or the Directors shall have no right to vote on the appointment or removal of any
 director.

10.2 After
 the closing of a Business Combination, the Directors shall be elected or removed by Resolution
 of Members or by Resolution of Directors.

10.3 No
 person shall be appointed as a Director of the Company unless he has consented in writing
 to act as a Director.

10.4 The
 minimum number of Directors shall be one and there shall be no maximum number of Directors.

10.5 Each
 Director holds office for the term fixed by the Resolution of Members or Resolution of Directors
 appointing him, or pursuant to Regulation 10.1 or 10.7, or until his earlier death, resignation
 or removal. For the avoidance of doubt, a Director who has completed his term of service
 is eligible for re-election in accordance with Regulation 10.1. If no term is fixed on the
 appointment of a Director, the Director shall serve indefinitely until his earlier death,
 resignation or removal.

10.6 A
 Director may resign his office by giving written notice of his resignation to the Company
 and the resignation has effect from the date the notice is received by the Company at the
 office of its registered agent or from such later date as may be specified in the notice.
 A Director shall resign forthwith as a Director if he is, or becomes, disqualified from acting
 as a Director under the Act.

10.7 After
 the closing of a Business Combination, the Directors may at any time appoint any person to
 be a Director either to fill a vacancy or as an addition to the existing Directors. Where
 the Directors appoint a person as Director to fill a vacancy, the term shall not exceed the
 term that remained when the person who has ceased to be a Director ceased to hold office.

10.8 A
 vacancy in relation to Directors occurs if a Director dies or otherwise ceases to hold office
 prior to the expiration of his term of office.

10.9 The
 Company shall keep a register of Directors containing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 names and addresses of the persons who are Directors of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 date on which each person whose name is entered in the register was appointed as a Director
 of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 date on which each person named as a Director ceased to be a Director of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) such
 other information as may be prescribed by the Act.

10.10 The
 register of Directors may be kept in any such form as the Directors may approve, but if it
 is in magnetic, electronic or other data storage form, the Company must be able to produce
 legible evidence of its contents. Until a Resolution of Directors determining otherwise is
 passed, the magnetic, electronic or other data storage shall be the original register of
 Directors.

10.11 The
 Directors, or if the Shares (or depository receipts therefore) are listed or quoted on a
 Designated Stock Exchange, and if required by the Designated Stock Exchange, any committee
 thereof, may, by a Resolution of Directors, fix the remuneration of Directors with respect
 to services to be rendered in any capacity to the Company, provided that no cash remuneration
 shall be paid to any Director prior to the consummation of a Business Combination. The Directors
 shall also, whether prior to or after the consummation of a Business Combination, be entitled
 to be paid out of pocket expenses properly incurred by them in connection with activities
 on behalf of the Company, including identifying and consummating a Business Combination.
 There is no limit on the amount of out-of-pocket expenses reimbursable by the Company provided
 that, to the extent such expenses exceed the available proceeds not deposited in the Trust
 Account, such expenses would not be reimbursed by the Company unless the Company consummates
 a Business Combination.

10.12 A
 Director is not required to hold a Share as a qualification to office.

10.13 Prior
 to the consummation of any transaction with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any
 affiliate of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any
 Member owning an interest in the voting power of the Company that gives such Member a significant
 influence over the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any
 Director or executive officer of the Company and any relative of such Director or executive
 officer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any
 person in which a substantial interest in the voting power of the Company is owned, directly
 or indirectly, by a person referred to in Regulations 10.13(b) and (c) or over which such
 a person is able to exercise significant influence,

such transaction must be approved by a majority of the members of the Board of Directors who do not have an interest in the transaction, such directors having been provided with access (at the Company's expense) to the Company's attorney or independent legal counsel, unless the disinterested directors determine that the terms of such transaction are no less favourable to the Company than those that would be available to the Company with respect to such a transaction from unaffiliated third parties.

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| | |
|:---|:---|
| **11** | **POWERS OF DIRECTORS** |

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11.1 The
 business and affairs of the Company shall be managed by, or under the direction or supervision
 of, the Directors of the Company. The Directors of the Company have all the powers necessary
 for managing, and for directing and supervising, the business and affairs of the Company.
 The Directors may pay all expenses incurred preliminary to and in connection with the incorporation
 of the Company and may exercise all such powers of the Company as are not by the Act or by
 the Memorandum or the Articles required to be exercised by the Members.

11.2 If
 the Company is the wholly owned subsidiary of a holding company, a Director of the Company
 may, when exercising powers or performing duties as a Director, act in a manner which he
 believes is in the best interests of the holding company even though it may not be in the
 best interests of the Company.

11.3 Each
 Director shall exercise his powers for a proper purpose and shall not act or agree to the
 Company acting in a manner that contravenes the Memorandum, the Articles or the Act. Each
 Director, in exercising his powers or performing his duties, shall act honestly and in good
 faith in what the Director believes to be the best interests of the Company.

11.4 Any
 Director which is a body corporate may appoint any individual as its duly authorised representative
 for the purpose of representing it at meetings of the Directors, with respect to the signing
 of consents or otherwise.

11.5 The
 continuing Directors may act notwithstanding any vacancy in their body.

11.6 Subject
 to Regulation 24.7, the Directors may by Resolution of Directors exercise all the powers
 of the Company to incur indebtedness, liabilities or obligations and to secure indebtedness,
 liabilities or obligations whether of the Company or of any third party, provided always
 that if the same occurs prior to the consummation of a Business Combination, the Company
 must first obtain from the lender a waiver of any right, title, interest or claim of any
 kind in or to any monies held in the Trust Account.

11.7 All
 cheques, promissory notes, drafts, bills of exchange and other negotiable instruments and
 all receipts for moneys paid to the Company shall be signed, drawn, accepted, endorsed or
 otherwise executed, as the case may be, in such manner as shall from time to time be determined
 by Resolution of Directors.

11.8 Section
 175 of the Act shall not apply to the Company.

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| | |
|:---|:---|
| **12** | **PROCEEDINGS OF DIRECTORS** |

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12.1 Any
 one Director of the Company may call a meeting of the Directors by sending a written notice
 to each other Director.

12.2 The
 Directors of the Company or any committee thereof may meet at such times and in such manner
 and places within or outside the British Virgin Islands as the notice calling the meeting
 provides.

12.3 A
 Director is deemed to be present at a meeting of Directors if he participates by telephone
 or other electronic means and all Directors participating in the meeting are able to hear
 each other.

12.4 After
 the closing of a Business Combination, a Director may by a written instrument appoint an
 alternate who need not be a Director, any such alternate shall be entitled to attend meetings
 in the absence of the Director who appointed him and to vote or consent in place of the Director
 until the appointment lapses or is terminated (an alternate's appointment, if he has
 not already done so, will automatically terminate on his appointor ceasing to be a Director).

12.5 A
 Director shall be given not less than three days' notice of meetings of Directors, but a
 meeting of Directors held without three days' notice having been given to all Directors shall
 be valid if all the Directors entitled to vote at the meeting who do not attend waive notice
 of the meeting, and for this purpose the presence of a Director at a meeting shall constitute
 waiver by that Director. The inadvertent failure to give notice of a meeting to a Director,
 or the fact that a Director has not received the notice, does not invalidate the meeting.

12.6 A
 meeting of Directors is duly constituted for all purposes if at the commencement of the meeting
 there are present in person or, following the consummation of a Business Combination, by
 alternate not less than one-half of the total number of Directors, unless there are only
 two Directors in which case the quorum is two.

12.7 If
 the Company has only one Director the provisions herein contained for meetings of Directors
 do not apply and such sole Director has full power to represent and act for the Company in
 all matters as are not by the Act, the Memorandum or the Articles required to be exercised
 by the Members. In lieu of minutes of a meeting the sole Director shall record in writing
 and sign a note or memorandum of all matters requiring a Resolution of Directors. Such a
 note or memorandum constitutes sufficient evidence of such resolution for all purposes.

12.8 At
 meetings of Directors at which the Chairman of the Board is present, he shall preside as
 chairman of the meeting. If there is no Chairman of the Board or if the Chairman of the Board
 is not present, the Directors present shall choose one of their number to be chairman of
 the meeting. If the Directors are unable to choose a chairman for any reason, then the oldest
 individual Director present (and for this purpose an alternate Director shall be deemed to
 be the same age as the Director that he represents) shall take the chair. In the case of
 an equality of votes at a meeting of Directors, the Chairman of the Board shall have a casting
 vote.

12.9 An
 action that may be taken by the Directors or a committee of Directors at a meeting may also
 be taken by a Resolution of Directors or a resolution of a committee of Directors consented
 to in writing by all Directors or by all members of the committee, as the case may be, without
 the need for any notice. The consent may be in the form of counterparts each counterpart
 being signed by one or more Directors. If the consent is in one or more counterparts, and
 the counterparts bear different dates, then the resolution shall take effect on the date
 upon which the last Director has consented to the resolution by signed counterparts.

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| | |
|:---|:---|
| **13** | **COMMITTEES** |

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13.1 The
 Directors may, by Resolution of Directors, designate one or more committees, each consisting
 of one or more Directors, and delegate one or more of their powers, including the power to
 affix the Seal, to the committee.

13.2 The
 Directors have no power to delegate to a committee of Directors any of the following powers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to
 amend the Memorandum or the Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to
 designate committees of Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to
 delegate powers to a committee of Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to
 appoint Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) to
 appoint an agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) to
 approve a plan of merger, consolidation or arrangement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) to
 make a declaration of solvency or to approve a liquidation plan.

13.3 Regulations
 13.2(b) and (c) do not prevent a committee of Directors, where authorised by the Resolution
 of Directors appointing such committee or by a subsequent Resolution of Directors, from appointing
 a sub-committee and delegating powers exercisable by the committee to the sub-committee.

13.4 The
 meetings and proceedings of each committee of Directors consisting of 2 or more Directors
 shall be governed mutatis mutandis by the provisions of the Articles regulating the proceedings
 of Directors so far as the same are not superseded by any provisions in the Resolution of
 Directors establishing the committee.

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| | |
|:---|:---|
| **14** | **OFFICERS AND AGENTS** |

---

14.1 The
 Company may by Resolution of Directors appoint officers of the Company at such times as may
 be considered necessary or expedient. Such officers may consist of a Chairman of the Board
 of Directors, a Chief Executive Officer, a President, a Chief Financial Officer (in each
 case there may be more than one of such officers), one or more vice-presidents, secretaries
 and treasurers and such other officers as may from time to time be considered necessary or
 expedient. Any number of offices may be held by the same person.

14.2 The
 officers shall perform such duties as are prescribed at the time of their appointment subject
 to any modification in such duties as may be prescribed thereafter by Resolution of Directors.
 In the absence of any specific prescription of duties it shall be the responsibility of the
 Chairman of the Board (or Co-Chairman, as the case may be) to preside at meetings of Directors
 and Members, the Chief Executive Officer (or Co-Chief Executive Officer, as the case may
 be) to manage the day to day affairs of the Company, the vice-presidents to act in order
 of seniority in the absence of the Chief Executive Officer (or Co-Chief Executive Officer,
 as the case may be) but otherwise to perform such duties as may be delegated to them by the
 Chief Executive Officer (or Co-Chief Executive Officer, as the case may be), the secretaries
 to maintain the share register, minute books and records (other than financial records) of
 the Company and to ensure compliance with all procedural requirements imposed on the Company
 by Applicable Law, and the treasurer to be responsible for the financial affairs of the Company.

14.3 The
 emoluments of all officers shall be fixed by Resolution of Directors.

14.4 The
 officers of the Company shall hold office until their death, resignation or removal. Any
 officer elected or appointed by the Directors may be removed at any time, with or without
 cause, by Resolution of Directors. Any vacancy occurring in any office of the Company may
 be filled by Resolution of Directors.

14.5 The
 Directors may, by a Resolution of Directors, appoint any person, including a person who is
 a Director, to be an agent of the Company. An agent of the Company shall have such powers
 and authority of the Directors, including the power and authority to affix the Seal, as are
 set forth in the Articles or in the Resolution of Directors appointing the agent, except
 that no agent has any power or authority with respect to the matters specified in Regulation
 13.1. The Resolution of Directors appointing an agent may authorise the agent to appoint
 one or more substitutes or delegates to exercise some or all of the powers conferred on the
 agent by the Company. The Directors may remove an agent appointed by the Company and may
 revoke or vary a power conferred on him.

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| | |
|:---|:---|
| **15** | **CONFLICT OF INTERESTS** |

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15.1 A
 Director of the Company shall, forthwith after becoming aware of the fact that he is interested
 in a transaction entered into or to be entered into by the Company, disclose the interest
 to all other Directors of the Company.

15.2 For
 the purposes of Regulation 15.1, a disclosure to all other Directors to the effect that a
 Director is a member, Director or officer of another named entity or has a fiduciary relationship
 with respect to the entity or a named individual and is to be regarded as interested in any
 transaction which may, after the date of the entry or disclosure, be entered into with that
 entity or individual, is a sufficient disclosure of interest in relation to that transaction.

15.3 Provided
 that the requirements of Regulation 10.13 have first been satisfied, a Director of the Company
 who is interested in a transaction entered into or to be entered into by the Company may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) vote
 on a matter relating to the transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) sign
 a document on behalf of the Company, or do any other thing in his capacity as a Director,
 that relates to the transaction,

and, subject to compliance with the Act and these Articles shall not, by reason of his office be accountable to the Company for any benefit which he derives from such transaction and no such transaction shall be liable to be avoided on the grounds of any such interest or benefit.

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| | |
|:---|:---|
| **16** | **INDEMNIFICATION** |

---

16.1 Subject
 to the limitations hereinafter provided and to the extent permitted by law, the Company shall
 indemnify, hold harmless and exonerate against all direct and indirect costs, fees and Expenses
 of any type or nature whatsoever, any person who:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is
 or was a party or is threatened to be made a party to any Proceeding by reason of the fact
 that such person is or was a Director, officer, key employee, adviser of the Company or who
 at the request of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is
 or was, at the request of the Company, serving as a Director of, or in any other capacity
 is or was acting for, another Enterprise.

16.2 The
 indemnity in Regulation 16.1 only applies if the relevant Indemnitee acted honestly and in
 good faith with a view to the best interests of the Company and, in the case of criminal
 proceedings, the Indemnitee had no reasonable cause to believe that his conduct was unlawful.

16.3 The
 decision of the Directors as to whether an Indemnitee acted honestly and in good faith and
 with a view to the best interests of the Company and as to whether such Indemnitee had no
 reasonable cause to believe that his conduct was unlawful is, in the absence of fraud, sufficient
 for the purposes of the Articles, unless a question of law is involved.

16.4 The
 termination of any Proceedings by any judgment, order, settlement, conviction or the entering
 of a nolle prosequi does not, by itself, create a presumption that the relevant Indemnitee
 did not act honestly and in good faith and with a view to the best interests of the Company
 or that such Indemnitee had reasonable cause to believe that his conduct was unlawful.

16.5 The
 Company may purchase and maintain insurance, purchase or furnish similar protection or make
 other arrangements including, but not limited to, providing a trust fund, letter of credit,
 or surety bond in relation to any Indemnitee or who at the request of the Company is or was
 serving as a Director, officer or liquidator of, or in any other capacity is or was acting
 for, another Enterprise, against any liability asserted against the person and incurred by
 him in that capacity, whether or not the Company has or would have had the power to indemnify
 him against the liability as provided in these Articles.

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| | |
|:---|:---|
| **17** | **RECORDS** |

---

17.1 The
 Company shall keep the following documents at the office of its registered agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 Memorandum and the Articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 share register, or a copy of the share register;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 register of Directors, or a copy of the register of Directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) copies
 of all notices and other documents filed by the Company with the Registrar of Corporate Affairs
 in the previous 10 years.

17.2 If
 the Company maintains only a copy of the share register or a copy of the register of Directors
 at the office of its registered agent, it shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) within
 15 days of any change in either register, notify the registered agent in writing of the change;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) provide
 the registered agent with a written record of the physical address of the place or places
 at which the original share register or the original register of Directors is kept.

17.3 The
 Company shall keep the following records at the office of its registered agent or at such
 other place or places, within or outside the British Virgin Islands, as the Directors may
 determine:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) minutes
 of meetings and Resolutions of Members and classes of Members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) minutes
 of meetings and Resolutions of Directors and committees of Directors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) an
 impression of the Seal, if any.

17.4 Where
 any original records referred to in this Regulation are maintained other than at the office
 of the registered agent of the Company, and the place at which the original records is changed,
 the Company shall provide the registered agent with the physical address of the new location
 of the records of the Company within 14 days of the change of location.

17.5 The
 records kept by the Company under this Regulation shall be in written form or either wholly
 or partly as electronic records complying with the requirements of the Electronic Transactions
 Act.

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| | |
|:---|:---|
| **18** | **REGISTERS OF CHARGES** |

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18.1 The
 Company shall maintain at the office of its registered agent a register of charges in which
 there shall be entered the following particulars regarding each mortgage, charge and other

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the
 date of creation of the charge;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a
 short description of the liability secured by the charge;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a
 short description of the property charged;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the
 name and address of the trustee for the security or, if there is no such trustee, the name
 and address of the chargee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) unless
 the charge is a security to bearer, the name and address of the holder of the charge; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) details
 of any prohibition or restriction contained in the instrument creating the charge on the
 power of the Company to create any future charge ranking in priority to or equally with the
 charge.

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| **19** | **CONTINUATION** |

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The Company may by Resolution of Members or by a Resolution of Directors continue as a company incorporated under the laws of a jurisdiction outside the British Virgin Islands in the manner provided under those laws.

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| **20** | **SEAL** |

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The Company may have more than one Seal and references herein to the Seal shall be references to every Seal which shall have been duly adopted by Resolution of Directors. The Directors shall provide for the safe custody of the Seal and for an imprint thereof to be kept at the registered office. Except as otherwise expressly provided herein the Seal when affixed to any written instrument shall be witnessed and attested to by the signature of any one Director or other person so authorised from time to time by Resolution of Directors. Such authorisation may be before or after the Seal is affixed, may be general or specific and may refer to any number of sealings. The Directors may provide for a facsimile of the Seal and of the signature of any Director or authorised person which may be reproduced by printing or other means on any instrument and it shall have the same force and validity as if the Seal had been affixed to such instrument and the same had been attested to as hereinbefore described.

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| **21** | **ACCOUNTS AND AUDIT** |

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21.1 The
 Company shall keep records that are sufficient to show and explain the Company's transactions
 and that will, at any time, enable the financial position of the Company to be determined
 with reasonable accuracy.

21.2 The
 Company may by Resolution of Members call for the Directors to prepare periodically and make
 available a profit and loss account and a balance sheet. The profit and loss account and
 balance sheet shall be drawn up so as to give respectively a true and fair view of the profit
 and loss of the Company for a financial period and a true and fair view of the assets and
 liabilities of the Company as at the end of a financial period.

21.3 The
 Company may by Resolution of Members call for the accounts to be examined by auditors.

21.4 If
 the Shares are listed or quoted on a Designated Stock Exchange that requires the Company
 to have an audit committee, the Directors shall adopt a formal written audit committee charter
 and review and assess the adequacy of the formal written charter on an annual basis.

21.5 If
 the Shares are listed or quoted on the Designated Stock Exchange, the Company shall conduct
 an appropriate review of all related party transactions on an ongoing basis and, if required,
 shall utilise the audit committee for the review and approval of potential conflicts of interest.

21.6 If
 applicable, and subject to Applicable Law and the rules of the SEC and the Designated Stock
 Exchange:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) at
 the AGM or at a subsequent general meeting in each year, the Members shall appoint an auditor
 who shall hold office until the Members appoint another auditor. Such auditor may be a Member
 but no Director or officer or employee of the Company shall during, his continuance in office,
 be eligible to act as auditor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a
 person, other than a retiring auditor, shall not be capable of being appointed auditor at
 an AGM unless notice in writing of an intention to nominate that person to the office of
 auditor has been given not less than ten days before the AGM and furthermore the Company
 shall send a copy of such notice to the retiring auditor; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the
 Members may, at any meeting convened and held in accordance with these Articles, by resolution
 remove the auditor at any time before the expiration of his term of office and shall by resolution
 at that meeting appoint another auditor in his stead for the remainder of his term.

21.7 The
 remuneration of the auditors shall be fixed by Resolution of Directors in such manner as
 the Directors may determine or in a manner required by the rules and regulations of the Designated
 Stock Exchange and the SEC.

21.8 The
 report of the auditors shall be annexed to the accounts and shall be read at the meeting
 of Members at which the accounts are laid before the Company or shall be otherwise given
 to the Members.

21.9 Every
 auditor of the Company shall have a right of access at all times to the books of account
 and vouchers of the Company, and shall be entitled to require from the Directors and officers
 of the Company such information and explanations as he thinks necessary for the performance
 of the duties of the auditors.

21.10 The
 auditors of the Company shall be entitled to receive notice of, and to attend any meetings
 of Members at which the Company's profit and loss account and balance sheet are to be presented.

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| **22** | **NOTICES** |

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22.1 Any
 notice, information or written statement to be given by the Company to Members shall be served
 by mail, fax (or equivalent means of transmittance) or email addressed to each Member at
 the address shown in the Company's share register (or where the notice is given by email
 or fax (or equivalent means of transmittance) by sending it to the email address or fax number
 (or equivalent) provided by such Member). Any mailed notice, if posted from one country to
 another, is to be sent by airmail. Where a notice is sent by courier, service of the notice
 shall be deemed to be effected by delivery of the notice to a courier company, and shall
 be deemed to be effected by delivery of the notice to a courier company, and shall be deemed
 to have been received on the third day (not including Saturdays or Sundays or public holidays
 in the British Virgin Islands) following the day on which the notice was delivered to the
 courier. Where a notice is sent by post, service of the notice shall be deemed to be effected
 by properly addressing, pre-paying and posting a letter containing the notice, and shall
 be deemed to have received on the fifth day (not including Saturdays or Sundays or public
 holidays in the British Virgin Islands) following the day on which the notice was posted.
 Where a notice is sent by fax (or equivalent means of transmittance), service of the notice
 shall be deemed to be effected by properly addressing and sending such notice and shall be
 deemed to have been received on the same day that it was transmitted. Where a notice is given
 by email, service shall be deemed to be effected by transmitting the email to the email address
 provided by the intended recipient and shall be deemed to have been received on the same
 day that it was sent, and it shall not be necessary for receipt of the email to be acknowledged
 by the recipient.

22.2 Service
 of any summons, notice, order, document, process, information or written statement to be
 served on the Company may be proved by showing that the summons, notice, order, document,
 process, information or written statement was delivered to the registered office or the registered
 agent of the Company or that it was mailed in such time as to admit to its being delivered
 to the registered office or the registered agent of the Company in the normal course of delivery
 within the period prescribed for service and was correctly addressed and the postage was
 prepaid.

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| **23** | **VOLUNTARY WINDING UP** |

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The Company may by a Resolution of Members or by a Resolution of Directors appoint a voluntary liquidator.

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|:---|:---|
| **24** | **BUSINESS COMBINATION** |

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24.1 Regulations
 24.1 to 24.11 shall terminate upon consummation of any Business Combination.

24.2 The
 Company has until 24 months from the closing of the IPO to consummate a Business Combination.
 In the event that the Company does not consummate a Business Combination within 24 months
 from the closing of the IPO (such date falling 24 months after the closing of the IPO being
 referred to as the **Termination Date**), such failure shall trigger a redemption of the
 Public Shares (a **Termination Date Redemption Event**) and the Directors of the Company
 shall take all such action necessary (i) cease all operation except for the purpose of winding
 up, (ii) as promptly as reasonably possible but no more than ten (10) Business Days thereafter
 to redeem the Public Shares in cash at a per-share amount equal to the applicable Per-Share
 Redemption Price; and (iii) as promptly as reasonably possible following such redemption,
 subject to the approval of the Directors, liquidate and dissolve. In the event of a Termination
 Date Redemption Event, only the holders of Public Shares shall be entitled to receive pro
 rata redeeming distributions from the Trust Account (including interests but net of taxes
 payable and less up to US$100,000 of any interest earned to pay liquidation expenses) with
 respect to their Public Shares.

24.3 Unless
 a shareholder vote is required by law or the rules of the Designated Stock Exchange, or,
 at the sole discretion of the Directors, the Directors determine to hold a shareholder vote
 for business or other reasons, the Company may enter into a Business Combination without
 submitting such Business Combination to its Members for approval.

24.4 Although
 not required, in the event that a shareholder vote is held, and a majority of the votes of
 the Shares entitled to vote thereon which were present at the meeting to approve the Business
 Combination are voted for the approval of such Business Combination, the Company shall be
 authorised to consummate the Business Combination.

24.5 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In
 the event that a Business Combination is consummated by the Company other than in connection
 with a shareholder vote under Regulation 24.4, the Company will, subject to as provided below,
 offer to redeem the Public Shares for cash in accordance with Rule 13e-4 and Regulation 14E
 of the Exchange Act and subject to any limitations (including but not limited to cash requirements)
 set forth in the definitive transaction agreements related to the Business Combination (the **Tender Redemption Offer**), provided however that the Company shall not redeem those
 Shares held by the Initial Shareholders or their affiliates pursuant to such Tender Redemption
 Offer, whether or not such holders accept such Tender Redemption Offer. The Company will
 file tender offer documents with the SEC prior to consummating the Business Combination which
 contain substantially the same financial and other information about the Business Combination
 and the redemption rights as would be required in a proxy solicitation pursuant to Regulation
 14A of the Exchange Act. In accordance with the Exchange Act, the Tender Redemption Offer
 will remain open for a minimum of 20 Business Days and the Company will not be permitted
 to consummate its Business Combination until the expiry of such period. If in the event a
 Member holding Public Shares accepts the Tender Redemption Offer and the Company has not
 otherwise withdrawn the tender offer, the Company shall, promptly after the consummation
 of the Business Combination, pay such redeeming Member, on a pro rata basis, cash equal to
 the applicable Per-Share Redemption Price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In
 the event that a Business Combination is consummated by the Company in connection with a
 shareholder vote held pursuant to Regulation 24.4 in accordance with a proxy solicitation
 pursuant to Regulation 14A of the Exchange Act (the **Redemption Offer**), the Company
 will, subject as provided below, offer to redeem the Public Shares, other than those Shares
 held by the Initial Shareholders or their affiliates, regardless of whether such shares are
 voted for or against the Business Combination, for cash, on a pro rata basis, at a per-share
 amount equal to the applicable Per-Share Redemption Price, provided however that: (i) the
 Company shall not redeem those Shares held by the Initial Shareholders or their affiliates
 pursuant to such Redemption Offer, whether or not such holders accept such Redemption Offer;
 and (ii) any other redeeming Member who either individually or together with any affiliate
 of his or any other person with whom he is acting in concert or as a "group" (as
 such term is defined under Section 13 of the Exchange Act) shall not be permitted to redeem,
 without the consent of the Directors, more than fifteen percent (15%) of the total Public
 Shares sold in the IPO.

24.6 A
 holder of Public Shares shall be entitled to receive distributions from the Trust Account
 only in the event of a Termination Date Redemption Event, an Amendment Redemption Event or
 in the event he accepts a Tender Redemption Offer or a Redemption Offer where the Business
 Combination is consummated. In no other circumstances shall a holder of Public Shares have
 any right or interest of any kind in or to the Trust Account.

24.7 Following
 the IPO, the Company will not issue any Securities (other than (i) Public Shares or (ii)
 Class A Shares issuable upon conversion of Class B Shares pursuant to Section 3.2 hereof)
 prior to a Business Combination that would entitle the holder thereof to (i) receive funds
 from the Trust Account; or (ii) vote on any Business Combination.

24.8 In
 the event the Company seeks to complete a Business Combination with a company that is affiliated
 with an Initial Shareholder, or our Board of Directors cannot independently determine the
 fair market value of the target business or businesses, the Company will obtain an opinion
 from an independent investment banking firm or another independent firm that commonly renders
 valuation opinions or an independent accounting firm that such a Business Combination is
 fair to the Company from a financial point of view.

24.9 The
 Company will not effectuate a Business Combination with another "blank cheque"
 company or a similar company with nominal operations.

24.10 Immediately
 after the Company's IPO, that amount of the net proceeds received by the Company from the
 IPO (including proceeds of any exercise of the underwriter's over-allotment option) and from
 the simultaneous private placement by the Company as is stated in the Company's registration
 statement on Form S-1 filed with the SEC (such registration statement at the time it initially
 goes effective, the **Registration Statement**) to be deposited in the Trust Account shall
 be so deposited and thereafter held in the Trust Account until released in the event of a
 Business Combination or otherwise in accordance with this Regulation 24. Neither the Company
 nor any officer, Director or employee of the Company will disburse any of the proceeds held
 in the Trust Account until the earlier of (i) a Business Combination, or (ii) a Termination
 Date Redemption Event or in payment of the acquisition price for any shares which the Company
 elects to purchase, redeem or otherwise acquire in accordance with this Regulation 24, in
 each case in accordance with the trust agreement governing the Trust Account; provided that
 interest earned on the Trust Account (as described in the Registration Statement) may be
 released from time to time to the Company to pay the Company's tax obligations and
 up to US$100,000 of such interest may also be released from the Trust Account to pay any
 liquidation expenses of the Company if applicable.

24.11 In
 the event the Directors of the Company propose any amendment to Regulation 24 or to any of
 the other rights of the Ordinary Shares as set out at Clause 6.1 of the Memorandum prior
 to, but not for the purposes of approving or in conjunction with the consummation of, a Business
 Combination that would affect the substance or timing of the Company's obligations
 as described in this Regulation 24 to pay or to offer to pay the Per-Share Redemption Price
 to any holder of the Public Shares (an **Amendment**) and such Amendment is (i) duly approved
 by a Resolution of Members; and (ii) the amended Memorandum and Articles reflecting such
 amendment are to be filed at the Registry of Corporate Affairs (an **Approved Amendment**),
 the Company will offer to redeem the Public Shares of any Member for cash, on a pro rata
 basis, at a per-share amount equal to the applicable Per-Share Redemption Price (an **Amendment Redemption Event**), provided however that the Company shall not redeem those Shares held
 by the Initial Shareholders or their affiliates pursuant to such offer, whether or not such
 holders accept such offer.

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|:---|:---|
| **25** | **Business Opportunities** |

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25.1 In
 recognition and anticipation of the facts that: (a) directors, managers, officers, members,
 partners, managing members, employees and/or agents of one or more members of the Sponsor
 Group (each of the foregoing, a **Sponsor Group Related Person**) may serve as directors
 and/or officers of the Company; and (b) the Sponsor Group engages, and may continue to engage
 in the same or similar activities or related lines of business as those in which the Company,
 directly or indirectly, may engage and/or other business activities that overlap with or
 compete with those in which the Company, directly or indirectly, may engage, the provisions
 under this heading "Business Opportunities" are set forth to regulate and define
 the conduct of certain affairs of the Company as they may involve the Members and the Sponsor
 Group Related Persons, and the powers, rights, duties and liabilities of the Company and
 its officers, directors and Members in connection therewith.

25.2 To
 the fullest extent permitted by Applicable Law, the directors and officers of the Company
 shall have no duty, except and to the extent expressly assumed by contract, to refrain from
 engaging directly or indirectly in the same or similar business activities or lines of business
 as the Company. To the fullest extent permitted by Applicable Law, and subject to his or
 her fiduciary duties under Applicable Law, the Company renounces any interest or expectancy
 of the Company in, or in being offered an opportunity to participate in, any potential transaction
 or matter which may be a corporate opportunity offered to any director and officer of the
 Company, on the one hand, and the Company, on the other, unless such opportunity is expressly
 offered to such director or officer of the Company solely in their capacity as an Officer
 or director of the Company and the opportunity is one the Company is permitted to complete
 on a reasonable basis.

25.3 Except
 as provided elsewhere in the Articles, the Company hereby renounces any interest or expectancy
 of the Company in, or in being offered an opportunity to participate in, any potential transaction
 or matter which may be a corporate opportunity for both the Company and the Sponsor Group,
 about which a director and/or officer of the Company who is also an Sponsor Group Related
 Person acquires knowledge.

25.4 To
 the extent a court might hold that the conduct of any activity related to a corporate opportunity
 that is renounced in this Article to be a breach of duty to the Company or its Members, the
 Company hereby waives, to the fullest extent permitted by Applicable Law, any and all claims
 and causes of action that the Company may have for such activities. To the fullest extent
 permitted by Applicable Law, the provisions of this Article apply equally to activities conducted
 in the future and that have been conducted in the past.

We, Ogier Global (BVI) Limited of Ritter House, Wickhams Cay II, PO Box 3170, Road Town, Tortola VG1110, British Virgin Islands, for the purpose of incorporating a BVI business company under the laws of the British Virgin Islands hereby sign these Articles of Association.

Dated 03 September 2021

Incorporator

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|:---|
| <br> **Signed for and on behalf of Ogier Global (BVI) Limited of Ritter House, Wickhams Cay II, PO Box 3170, Road Town, Tortola VG1110, British Virgin Islands**<br>SGD: Monique Adams |
| <br>**Signature of authorised signatory** |
| **Monique Adams** |
| <br> **Print name** |

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