Capital Appreciation Limited is a Special Purpose Acquisition Company (SPAC). The Company focuses on acquiring businesses in the services sector. The Company's objective is to pursue transactions that it believes deliver attractive risk adjusted equity returns. The primary purpose of the Company is to conclude an acquisition of a viable asset, being an investment in a commercial enterprise with high growth potential. The Company considers various factors in evaluating an acquisition, which include the target's business model, market position, competitive position, regional expansion prospects, customer value proposition, brand position, financial condition and performance, cash generation potential, return on capital and equity metrics, prevailing and prospective gearing characteristics, capital requirements, regulatory environment and management experience and capability.