Energem shareholders approve extension to Aug 2023; 64% of shares redeemed for $98M

GRAPHJET TECHNOLOGY

Shareholders approved extension of business combination deadline from Nov 18, 2022 to Aug 18, 2023 via nine monthly extensions.
Holders of 9,604,519 Class A shares redeemed for ~$98.1M ($10.21/share), reducing trust to ~$19.4M.
Company deposited ~$85k ($0.045/share) into trust to fund the first monthly extension.
Trust agreement amended to reflect extended liquidation date and shareholder-approved changes.

item 1.01 item 8.01 item 3.03 item 5.03 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

GRAPHJET TECHNOLOGY: Shareholders approved Second Amended and Restated Articles of Association, allowing the Company to extend the business combination deadline from November 18, 2022 up to nine monthly extensions to August 18, 2023 (effective 2022-11-16).

Change: charter amendment
Effective: 2022-11-16

Exact text from the filing

The shareholders of the Company approved the Second Amended and Restated Articles of Association of the Company at the November 16, 2022, Extraordinary General Meeting, giving the Company the right to extend the date by which the Company must (i) consummate a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (a “business combination”), (ii) cease its operations if it fails to complete such business combination, and (iii) redeem or repurchase 100% of the Company’s Class A ordinary shares included as part of the units sold in the Company’s IPO that closed on November 18, 2021 from November 18, 2022 (the “Termination Date”) by up to nine (9) one-month extensions to August 18, 2023 (the “Extension Amendment Proposal”).

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

GRAPHJET TECHNOLOGY shareholders approved Extension Amendment Proposal - give the right to extend the date to consummate a business combination at the 2022-11-16 meeting.

Proposal: merger approval
Outcome: passed
Meeting: 2022-11-16

Exact text from the filing

The following is a tabulation of the voting results: Energem Corp. Ordinary Shares: Votes For Votes Against Abstentions 10,037,395 2,073,061 6,052

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

GRAPHJET TECHNOLOGY shareholders approved Trust Amendment Proposal - amend the Trust Agreement to extend the date to liquidate the Trust Account at the 2022-11-16 meeting.

Outcome: passed
Meeting: 2022-11-16

Exact text from the filing

The following is a tabulation of the voting results: Energem Corp. Ordinary Shares: Votes For Votes Against Abstentions 10,037,395 2,073,061 6,052

View on SEC.gov

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GRAPHJET TECHNOLOGY filing history →

Source: SEC EDGAR

accession 0001493152-22-032942

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