Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 202

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 202
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 So long as our Controlling Shareholder remains as our controlling shareholder, we may be limited in our ability to do business with its competitors. This may limit our ability to market our services for the best interests of our company and our other shareholders. 121 As a company incorporated in the Cayman Islands and a “controlled company” within the meaning of thecorporate governance rules, we are permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly fromcorporate governance listing standards applicable to domestic U.S. companies or rely on exemptions that are available to a “controlled company”; these practices may afford less protection to shareholders than they would enjoy if we complied fully withcorporate governance listing standards. We are an exempted company incorporated in the Cayman Islands, and, after the consummation of the Business Combination, will be listed on as a foreign private issuer. listing rules permit a foreign private issuer like us to follow the corporate governance practices of its home country. Certain corporate governance practices in the Cayman Islands, which is our home country, may differ significantly from corporate governance listing standards applicable to domestic U.S. companies. Upon consummation of the Business Combination, World Media and Entertainment Universal Inc. will become a “controlled company” as defined under therules because it is expected that the Controlling Shareholder will own more than 50% of our total voting power. For so long as World Media and Entertainment Universal Inc. remains a controlled company under that definition, it is permitted to elect to rely, and may rely, on certain exemptions fromcorporate governance rules. As a foreign private issuer and a “controlled company”, World Media and Entertainment Universal Inc. is permitted to elect to rely, and may rely, on certain exemptions from corporate governance rules, including (i) an exemption from the rule that a majority of our board of directors must be independent directors; (ii) an exemption from the rule that director nominees must be selected or recommended solely by independent directors; (iii) an exemption from the rule that the compensation committee must be comprised solely of independent directors and (iv) an exemption from the requirement that an audit committee be comprised of at least three members under. We intend to rely on all of the foregoing exemptions available to foreign private issuers and “controlled company.” As a result, you may not be provided with the benefits of certain corporate governance requirements of applicable to companies that are subject to these corporate governance requirements. You may face difficulties in protecting your interests, and your ability to protect your rights through U.S