Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 14, 2023, the Board of Directors (the "Board") of Malacca Straits
Acquisition Company Limited, a Cayman Islands exempted company (the "Company"),
appointed Ivan Wong to serve as an additional member of the Board.
Mr. Ka Lok (Ivan) Wong, age 46, has been a director of Nocturne Acquisition
Corporation, a special purpose acquisition corporation, since January 2022. He
has also been the Managing Director of Wyndham Capital, which manages a
portfolio of investments including special situation, private equity, and
structured finance investments, as well as property investments in Asia, Europe
and North America. Mr. Wong is responsible for alternative investments globally
and across all asset classes. From June 2011 to May 2013, Mr. Wong served as an
investment professional with ICBC International Holdings Limited, the principal
investment arm of Industrial and Commercial Bank of China (ICBC) in Hong Kong.
From November 2007 to June 2011, Mr. Wong served as an investment manager for
Argyle Street Management Limited, an Asia-based hedge fund. Mr. Wong is a member
of the American Institute of Certified Public Accountants. Mr. Wong received a
B.B.A. with a concentration in Financial Engineering from the Chinese University
of Hong Kong. Mr. Wong is well-qualified to serve on the Board due to his
expertise in corporate finance and management and his extensive experience in
investment.
There are no transactions between the Company and Mr. Wong that are subject to
disclosure under Item 404(a) of Regulation S-K.
On June 14, 2023, after Mr. Wong's appointment, Gordon Lo, Stanley Wang, Vince
Ming Shu Leung, Ping He and Eugene Ty Tan informed the Company of their
intention to resign as directors of the Company, effective immediately. Mr. Lo
also informed the Company of his intention to resign as the Chief Executive
Officer and President of the Company, effective immediately. In addition, Mr.
Wang informed the Company of his intention to resign as the Chief Financial
Officer of the Company, effective immediately. Neither of these resignations was
due to any disagreement with the Company.
As previously disclosed, the Company determined that, effective June 16, 2023,
it would (a) cease all operations except for the purpose of winding up; (b) as
promptly as reasonably possible but not more than ten business days thereafter,
redeem the public shares, at a per-share price, payable in cash, equal to the
aggregate amount then on deposit in the trust account, including interest earned
on the funds held in the trust account and not previously released to the
Company (less taxes payable and up to $100,000 of interest to pay dissolution
expenses), divided by the number of then public shares in issue, which
redemption will completely extinguish public shareholders' rights as
shareholders (including the right to receive further liquidation distributions,
if any); and (c) as promptly as reasonably possible following such redemption,
subject to the approval of the Company's remaining shareholders and the
directors, liquidate and dissolve, subject in the case of (b) and (c) above to
its obligations under Cayman Islands law to provide for claims of creditors and
in all cases subject to the other requirements of applicable law. Mr. Wong, as
the sole remaining director of the Company, will make decisions relating to the
matters described above.
1
© Edgar Online, source Glimpses