Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 252

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 252
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 visits to aWME’s hotels; •review of the quality of aWME’s financial assets and the stability of the relevant dividend payout history and trend; •analysis of business of L’Officiel magazine and The Art Newspaper and planned expansion strategies and operations; •analysis of the quality and viability of aWME’s hotels and properties; •review of the strength of aWME’s key brand names and intellectual property; •review of aWME’s financial statements and aWME’s intellectual property rights; •analysis of aWME’s recent business progress in different sectors; •financial and valuation analysis of aWME and the Business Combination; and •assessment of aWME’s readiness to list as a public company. 151 The Black Spade II Board ultimately determined that the decision to pursue a business combination with aWME over continuing to search for a business combination target was generally the result of, but not limited to, one or more of the following reasons: •the determination of Black Spade II’s management and the Sponsor that: (i) the market opportunity was substantial, and (ii) aWME was an attractive investment opportunity because of its uniqueness and leading position in the media and entertainment industry, the digitalization of its media business and its potential expansion plans and growth opportunity globally; •the determination that aWME fit into Black Spade II’s target sectors and was a more viable opportunity than the other potential acquisitions; and •the determination that, given the potential synergies that could be achieved between the parties, the combination of Black Spade II and aWME has the potential to increase substantially the likelihood of aWME achieving its growth potential and thereby create shareholder value. Specifically, the Black Spade II Board considered a number of factors pertaining to the Proposed Transactions as generally supporting its decision to approve the entry into the Business Combination Agreement and the transactions contemplated therein, including, but not limited to, the following material factors: • Strong Combination of Complementary Businesses.aWME has a strong combination of businesses, including businesses in the fast -growingmedia and entertainment sector, a strong asset -backedhotel portfolio and steady historical cash flow from dividend payout of its long -termequity investments. • Rich Historical Legacy in Media and Entertainment. aWME’s L’Officiel magazine, with over 100 years of heritage, and The Art Newspaper, as a leading specialist publication and the designated media outlet for Art Basel and Frieze art fairs in the past, boast rich histories and prominent