VISION DEAL-Z (07827) will be delisted after returning funds to its shareholders.

VISION DEAL-Z (07827) announcement was released, stating that on April 29, 2025, a hearing by the Listing Review Committee was held. The company received a letter from the Stock Exchange Listing Review Committee dated May 16, 2025, notifying the company of the Listing Review Committee's decision, which is to support the Stock Exchange's decision to suspend trading of the company's securities under rule 18B.73(2), as the company failed to comply with the deadline for announcement under rule 18B.69, and there was no reason to exempt the requirement of rule 18B.69. Since the company's listing as a special purpose acquisition company, the company believes and continues to believe until the date of this announcement that its primary goal is to create attractive returns for its shareholders by selecting high-quality target companies, negotiating favorable acquisition terms at attractive valuations, and improving the operational and financial performance of acquired companies. According to the company's adopted memorandum of association, this approach does not mandate completion of a merger transaction with a specified target company, whether announced or not. The company is deeply disappointed by the decision of the Stock Exchange Listing Review Committee. The company did not intend, nor is there any written provision, for completion of a merger transaction with the designated target announced to end within a specific period. The company's senior counsel believes that the interpretation of rule 18B.69 by the Stock Exchange is incorrect. Furthermore, their interpretation and adoption of the longest allowable period have not been disclosed to the market or the company in any form. As the Stock Exchange has not provided reasons for exempting the exercise of its power to suspend trading, and as the special purpose acquisition company announcements and transactions involving the future will not take place based on the Listing Review Committee's decision, the company will not provide any further response or quote the correspondence with the Stock Exchange as mentioned above. Therefore, the company will not be able to submit the special purpose acquisition company announcements for review, or obtain further advice from the Stock Exchange on announcements under rule 18B. In accordance with rule 2B.08(1), after the review process is completed, the company will refund the funds within one month after the decision of the Stock Exchange Listing Review Committee (i.e. by June 16, 2025) in accordance with rule 18B.74. Upon completion of the mandatory fund return, as per the explanation under rule 18B.74, the company's securities listing status will be canceled. According to rule 18B.74, after being suspended from trading under rule 18B.73, the company must proportionally distribute or pay back the funds held in the custodian account to all shareholders of the company, to refund the funds raised during the initial public offering, with the amount per share not less than the share price at the time of the initial public offering. According to rule 18B.75, the company's securities will be delisted after the company refunds funds to its shareholders in accordance with rule 18B.74.