Lim Wai Loong (Alan)
About Lim Wai Loong (Alan)
EVGR’s proxy materials list Lim Wai Loong (Alan) among the company’s directors; however, they do not provide a biography, age, education, or tenure details in the 2025/2024 extension proxies reviewed .
Past Roles
- Not disclosed in EVGR’s 2025/2024 extension proxies; these materials focus on extension proposals and do not include director biographies or professional histories .
External Roles
- No other public company directorships or external roles for Lim Wai Loong (Alan) are disclosed in EVGR’s 2025/2024 extension proxies .
Board Governance
- Committee assignments, chair roles, independence status, and attendance for Lim Wai Loong (Alan) are not specified in EVGR’s 2025/2024 extension proxies .
- EVGR’s Articles of Association define Audit, Compensation, and Nominating & Corporate Governance committees generally, but these proxies do not disclose committee membership by individual director .
- The governance context shows substantial sponsor ownership and influence (see Equity Ownership and Sponsor Ownership tables below), which is common in SPAC structures and can affect board dynamics and investor confidence .
Fixed Compensation
- Director cash retainers, committee fees, and any meeting fees for Lim Wai Loong (Alan) are not disclosed in EVGR’s 2025/2024 extension proxies .
Performance Compensation
- Equity grants (RSUs/PSUs/options), performance metrics, vesting schedules, severance, change-of-control terms, clawbacks, tax gross-ups, deferred compensation, and perquisites for Lim Wai Loong (Alan) are not disclosed in EVGR’s 2025/2024 extension proxies .
Other Directorships & Interlocks
- Not disclosed for Lim Wai Loong (Alan) in EVGR’s 2025/2024 extension proxies .
Expertise & Qualifications
- Not disclosed for Lim Wai Loong (Alan) in EVGR’s 2025/2024 extension proxies .
Equity Ownership
Director’s beneficial ownership and company share context:
| Metric | 2024 | 2025 |
|---|---|---|
| Lim Wai Loong (Alan) – Shares Beneficially Owned | — | — |
| Lim Wai Loong (Alan) – Ownership % | — | — |
| Company Share Counts (Record Date) | 2024 | 2025 |
|---|---|---|
| Ordinary Shares Outstanding | 8,028,170 | 5,196,457 |
| Founder Shares Outstanding | 2,875,000 | 2,875,000 |
| Sponsor Ownership | 2024 | 2025 |
|---|---|---|
| Evergreen LLC (Sponsor) – Shares Beneficially Owned | 3,407,500 | 3,407,500 |
| Evergreen LLC – Ownership % | 31.3% | 42.2% |
Governance Assessment
- Equity alignment: Lim Wai Loong (Alan) has no reported beneficial ownership in EVGR in the 2024/2025 proxies, limiting direct “skin-in-the-game” alignment from equity holdings .
- Sponsor influence: The Sponsor held 3,407,500 shares and 42.2% of outstanding voting power as of January 13, 2025 (up from 31.3% as of April 8, 2024), highlighting concentrated control that can constrain independent director leverage and shape outcomes around extensions/redemptions .
- Capital structure stress and redemptions: EVGR has repeatedly sought extensions and experienced significant public-share redemptions in 2023 and 2024, shrinking the public float and amplifying Sponsor percentage ownership, a dynamic that can impair governance checks and investor confidence .
- Related-party financing and incentives: The Sponsor has provided non-interest-bearing, unsecured loans to fund monthly extension payments and working capital (total loans of $5,888,500 as of December 15, 2024; extension loan terms include forgiveness if no business combination closes), underscoring economic incentives that may diverge from public shareholders’ interests .
- Risk indicators (RED FLAGS):
- Delisting risk: Nasdaq rules require a business combination within specified timeframes; EVGR disclosed immediate suspension/delisting risk if not completed by February 11, 2025, which raises material governance and market-access concerns .
- Foreign investment review (CFIUS) risk: As a “foreign person,” EVGR’s U.S. targets may face CFIUS review, potential mitigation, or prohibition—complicating timetable certainty and deal feasibility .
- SPAC liquidation/investment company risk: Proxies detail potential trust liquidation considerations and investment-company status risks, reflecting structural uncertainties affecting shareholder outcomes .
- Initial shareholder interests: Proxies emphasize that initial shareholders (including the Sponsor) have interests that may differ from public holders—notably founder shares and private placement units, continued indemnification/D&O insurance, and waived liquidation rights on founder shares—potentially misaligning payoffs versus public float holders .
- Implications: In this environment, independent directors’ effectiveness relies on robust oversight of extensions/redemptions, clear scrutiny of related-party financing, and rigorous evaluation of the pending business combination’s merits against delisting/CFIUS risks—none of which are elaborated at the individual director level in the proxies reviewed .
Note: EVGR’s 2025/2024 extension proxies do not include director biographies, committee membership details, attendance, or compensation disclosures for Lim Wai Loong (Alan). Where possible, governance context is drawn from the Articles, beneficial ownership tables, and the “Interests of Initial Shareholders” and risk sections in these filings .