Zoomcar Holdings, Inc. — fact timeline

Zoomcar Holdings, Inc. incurred loan of up to $180,000 with Innovative International Sponsor I LLC at bears no interest maturing the date on which the Company consummates an initial business combination.

“The Company has issued a promissory note in favor of the Sponsor (the “Note”) in the principal amount of up to $180,000 for expenses to be accrued in connection with up to two of the three contemplated monthly extensions.”

Zoomcar Holdings, Inc. amended Trust Agreement Amendment with American Stock Transfer & Trust Company, LLC (effective 2023-07-20).

“the shareholders of the Company approved the amendment to the Company’s investment management trust agreement, dated as of October 26, 2021, as amended by Amendment No. 1, dated as of January 19, 2023, by and between the Company and American Stock Transfer & Trust Company, LLC (the “Trust Agreement Amendment”).”

Valarie Sheppard resigned as director at Zoomcar Holdings, Inc..

“Effective July 21, 2023, Ms. Valarie Sheppard resigned from her position as a director of the Company, including her membership on the Audit Committee, the Compensation Committee and the Special Committee formed to consider and negotiate the terms and conditions of the Company’s proposed business combination.”

Zoomcar Holdings, Inc.: Change of fiscal year end from December 31 to March 31 (effective 2023-05-30).

“On May 30, 2023, the board of directors of Innovative International Acquisition Corp. (the “Company”) approved a change to the Company’s fiscal year end from December 31 to March 31, in accordance with the Company’s amended and restated articles of association.”

Zoomcar Holdings, Inc. incurred loan of up to $500,000 with Innovative International Sponsor I LLC at bears no interest maturing on the date of the consummation of the Company’s initial business combination.

“On May 10, 2023, Innovative International Acquisition Corp. (the “Company”) issued an unsecured promissory note (the “Note”), in the amount of up to $500,000 to Innovative International Sponsor I LLC, the sponsor of the Company.”

Zoomcar Holdings, Inc. received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A)).

“March 31, 2023, Innovative International Acquisition Corp. (the “Company”) received a written notice (the “Letter”) from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) indicating that the Company was not in compliance with Listing Rule 5450(b)(2)(A), requiring the Company to maintain a Market Value of Listed Securities (“MVLS”) of $50,000,000 for the continued listing of its securities on The Nasdaq Global Market. The Letter is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company’s s”

Elaine Price resigned as Director at Zoomcar Holdings, Inc..

“Also on March 31, 2023, Ms. Elaine Price resigned from her position as a director of the Company”

Anuradha George resigned as Director at Zoomcar Holdings, Inc..

“Effective March 31, 2023, Ms. Anuradha George resigned from her position as a director of the Company”

Zoomcar Holdings, Inc.: Amendment to extend the date to consummate an initial business combination up to six times from January 29, 2023 to July 29, 2023 (effective 2023-01-19).

“At the EGM, the shareholders of the Company approved an amendment (the “Charter Amendment”) to the Company’s Amended and Restated Memorandum and Articles of Association to extend the date by which the Company must consummate an initial business combination up to six (6) times for an additional one (1) month each time from January 29, 2023 to July 29, 2023 (which is 21 months from the closing of the Company’s initial public offering). Under Cayman Islands law, the Charter Amendment took effect upon approval by the shareholders.”

Zoomcar Holdings, Inc. shareholders approved Trust Agreement Amendment at the 2023-01-19 meeting.

“The Trust Agreement Amendment was approved by ordinary resolution of the Company’s shareholders, and received the following votes: For Against Abstain 28,005,693 426,128 0”

Zoomcar Holdings, Inc. shareholders approved Charter Amendment at the 2023-01-19 meeting.

“The Charter Amendment was a pproved by a special resolution of the Company’s shareholders, and received the following votes: For Against Abstain 28,005,693 426,128 397,591”

Zoomcar Holdings, Inc. incurred loan of up to US$990,000 with Innovative International Sponsor I LLC at bears no interest maturing on the Maturity Date as defined in the Note.

“In connection with the Trust Agreement Amendment, Innovative International Sponsor I LLC (the "Sponsor") has agreed to make available to the Company an aggregate amount of up to US$990,000 to be used only for expenses accrued in connection with the extension of the date by which the Company must consummate an initial business combination, pursuant to a promissory note in favor of the Sponsor (the "Note"). The Note is non-convertible and bears no interest, and the principal balance is payable by the Company on the Maturity Date, as defined in the Note.”

Zoomcar Holdings, Inc. amended Trust Agreement Amendment with American Stock Transfer & Trust Company, LLC (effective 2023-01-19).

“On January 19, 2023, Innovative International Acquisition Corp. (the “Company”) held an extraordinary general meeting of shareholders (the “EGM”) for the purpose of considering and voting on the Charter Amendment and the Trust Agreement Amendment (each as defined below) and, if presented, the proposal to adjourn the EGM to a later date.”

Zoomcar Holdings, Inc. incurred loan of up to $500,000 with Ananda Small Business Trust at bears no interest maturing on the date of the consummation of the Company’s initial business combination.

“On January 3, 2023, Innovative International Acquisition Corp. (the “Company”) issued an unsecured promissory note (the “Note”), in the amount of up to $500,000 to Ananda Small Business Trust (“ASBT”), an affiliate of Innovative International Sponsor I LLC, the sponsor of the Company.”