UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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):
May 24, 2021
DUDDELL STREET ACQUISITION CORP.
(Exact Name of Registrant as Specified in its Charter)
| Cayman Islands | 333-249207 | N/A | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
|
8/F Printing House, 6 Duddell Street Hong Kong |
00000
| |
| (Address of Principal Executive Offices) | (Zip Code) |
| Registrant’s telephone number, including area code: + 852 3468 6200 |
| Not Applicable |
| (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 (see General Instruction A.2. below):
|
| ☐ 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(s) | Name of each exchange on which registered | ||
| Class A ordinary shares, par value $0.0001 per share | DSAC | Nasdaq Capital Market | ||
| Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 | DSACW | Nasdaq Capital Market | ||
| Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant | DSACU | Nasdaq Capital Market |
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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 24, 2021, Mr. Peter Lee Coker Jr. notified Duddell Street Acquisition Corp. (the “Company”) of his resignation as a director of the Company, effective upon the Company naming his replacement. Mr. Coker served as Chairman of the Compensation Committee and the Nominating and Corporate Governance Committee of the Board of Directors (the “Board”) and as a member of the Audit Committee of the Board. Mr. Coker confirmed that his resignation was not the result of any disagreement with us on any matter relating to our operations, policies or practices. Mr. Coker forfeited all of his 300,000 founder shares that our sponsor, Duddell Street Holdings Limited (the “Sponsor”), had previously transferred to him prior to our initial public offering and assigned and transferred such founder shares to the Sponsor for no consideration in connection with his resignation.
On May 24, 2021, Mr. Mark Derrick Collier was appointed as a director of the Company, effective immediately. Mr. Collier replaces Mr. Coker to serve as Chairman of the Compensation Committee and the Nominating and Corporate Governance Committee of the Board and as a member of the Audit Committee of the Board. There are no arrangements or understandings between Mr. Collier and any other persons pursuant to which Mr. Collier was selected as a director of the Company, and there is no family relationship between Mr. Collier and any of the Company’s other directors or executive officers. Mr. Collier does not have a material interest in any transaction that is required to be disclosed under Item 404(a) of Regulation S-K.
A copy of the press release issued by the Company announcing the resignation of Mr. Coker and the appointment of Mr. Collier as a director of the Company is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release, dated May 24, 2021 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 24, 2021
| DUDDELL STREET ACQUISITION CORP. | ||
| By: | /s/ Manoj Jain | |
| Manoj Jain | ||
| Chief Executive Officer | ||
Exhibit 99.1
Duddell Street Acquisition Corp.
Announces Director Resignation and Appointment of Mark Derrick Collier to Board of Directors
HONG KONG— May 24, 2021 – Duddell Street Acquisition Corp. (the “Company”) today announced that Peter Lee Coker Jr. has resigned as a member of the Board of Directors (the “Board”). As a result of his resignation, Mr. Coker also resigned from his position as the Chairman of the Compensation Committee and the Nominating and Corporate Governance Committee of the Board and as a member of the Audit Committee of the Board.
The Company today announced the appointment of Mark Derrick Collier to its Board, effective immediately. The Board has determined that Mr. Collier, an independent director, will replace Mr. Coker as the Chairman of the Compensation Committee and the Nominating and Corporate Governance Committee of the Board and as a member of the Audit Committee of the Board at the time of his appointment to the Board.
Mr. Collier currently serves on the Board of Directors of Assupol Group Holdings Ltd, Assupol Life Ltd, Sigma Pensions Ltd, Sigma Investment Management Ltd, Actis Golf B.V. and Mark Collier Ltd.
Mr. Collier previously served on the Board of Directors of Alexander Forbes Group Holdings Ltd, Alexander Forbes Emerging Markets (Pty) Ltd, Alexander Forbes Insurance Company, Alexander Forbes Financial Services Holdings (Pty) Ltd, Alexander Forbes Life Ltd, Alexander Forbes Investments Ltd., Bajaj Capital Ltd, XP Investimentos Inc, Fidelity Investment Services Ltd and Fidelity Portfolio Services Ltd.
Mr. Collier founded Investia Ltd and FundsHub Ltd and served as the Chairman and Chief Executive Officer of these companies from 1999 to 2006.
Prior to that, Mr. Collier was President of Charles Schwab Europe Ltd, Chief Executive Officer of Schwab International, and Senior Vice President of Charles Schwab & Co Inc.
Prior to joining Schwab, Mr. Collier held senior roles at various companies, including serving as President of Fidelity Investments Advisor Group Inc. and as Chief Executive of Fidelity Brokerage Services Ltd.
About Duddell Street Acquisition Corp.
Duddell Street Acquisition Corp. was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Although the Company’s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on global companies in telecom, media and technology, healthcare, fintech and consumer sectors with compelling Asian growth potential.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the Company’s search for an initial business combination. No assurance can be given that the Company will ultimately complete a business combination transaction. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Contact:
Sam Joshi
Head of Business Development & Investor Relations
Maso Capital
8th Floor, Printing House
6 Duddell Street, Hong Kong
+ 852 3468 6225
Sam.Joshi@masocapital.com
https://masocapital.com/
https://dsac.co