INTERRAACQ-Z (07801.HK) announced that the board of directors decided to postpone the publication of the special purpose acquisition company's acquisition announcement and the deadline for completing the special purpose acquisition company's acquisition transaction last Friday (23rd). The company will seek shareholder approval through an ordinary resolution at the special general meeting regarding the proposed postponement.

As of now, the company is in negotiations with a potential acquisition target for a special purpose acquisition company's acquisition transaction. The company operates in the consumer and new retail industry in China, and holds a leading position in the retail industry with an extensive network in China, Hong Kong, and Macau. While negotiating with the acquisition target, the company is also actively engaging with multiple potential PIPE investors to ensure independent external verification of the agreed value of the acquisition target in the potential special purpose acquisition company's acquisition transaction.

As of now, the company and the acquisition target have not entered into any final agreement on the special purpose acquisition company's acquisition transaction. Depending on the progress of negotiations between the company, the acquisition target, and potential PIPE investors, and the final agreements reached on the special purpose acquisition company's acquisition transaction, the special purpose acquisition company's acquisition announcement will be published no later than March 16, 2025.

The company believes that the potential special purpose acquisition company's acquisition transaction presents an attractive opportunity, aligned with the best interests of the company and shareholders. Postponing the announcement deadline and completion deadline will provide necessary time for a comprehensive evaluation and potential completion of the special purpose acquisition company's acquisition transaction.