Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 69

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 69
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 Business Combination Proposal” and “The Business Combination Agreement.” A copy of the Business Combination Agreement is attached to this proxy statement / prospectus as Annex A. On January 27, 2025, the Business Combination Agreement was entered into, by and among Black Spade II, The Generation Essentials Group and Merger Sub, pursuant to which, among other transactions, on the terms and subject to the conditions set forth therein, Merger Sub will merge with and into Black Spade II (the “Merger”), with Black Spade II surviving the Merger as a wholly -ownedsubsidiary of The Generation Essentials Group. The parties will hold the Closing on the date which is three business days following the satisfaction or waiver of the conditions set forth in the Business Combination Agreement, unless Black Spade II and The Generation Essentials Group agree to another time or unless the Business Combination Agreement is terminated pursuant to its terms. Conversion of Securities Pursuant to the Business Combination Agreement, among other things, prior to the effective time of the Merger (the “Merger Effective Time”), The Generation Essentials Group will re -designate: •Each ordinary share of The Generation Essentials Group (other than non -votingordinary shares) that is not held by AMTD Digital Inc. (“AMTD Digital”) into one Class A ordinary share of The Generation Essentials Group (“TGE Class A Ordinary Share”); •Each ordinary share of The Generation Essentials Group (other than non -votingordinary shares) that is held by AMTD Digital into one Class B ordinary share of The Generation Essentials Group (“TGE Class B Ordinary Share”); and •Each non -votingordinary share of The Generation Essentials Group into one non -votingpreferred share of The Generation Essentials Group (“TGE Preferred Share”). Pursuant to the Business Combination Agreement, immediately after the completion of the re -designationof shares and immediately prior to the Merger Effective Time, The Generation Essentials Group will effect a share consolidation or subdivision such that: •Each TGE Class A Ordinary Share will be consolidated or divided into a number of TGE Class A Ordinary Shares equal to the Adjustment Factor (as defined below); •Each TGE Class B Ordinary Share will be consolidated or divided into a number of TGE Class B Ordinary Shares equal to the Adjustment Factor; and •Each TGE Preferred Share will be consolidated or divided into a number of TGE Preferred Shares equal to the Adjustment Factor (as defined below) (such actions, collectively, the “Recapitalization”). The “Adjustment Factor”