Company: TGE
Filing Date: 2025-04-11
Form Type: F-4
Source: 0001213900-25-031177
Chunk: 392

Company: Generation Essentials Group
Filing Date: 2025-04-11
Form: F-4
Chunk 392
---
 U.S. Holder actually or constructively owns immediately after the redemption is less than 80% of the percentage of the respective entity’s outstanding voting shares that such U.S. Holder actually or constructively owned immediately before the redemption. Prior to the Business Combination, the BSII Class A Ordinary Shares may not be treated as voting shares for this purpose, and, consequently, this substantially disproportionate test may not be applicable. There will be a complete termination of such U.S. Holder’s interest if either (i) all of the BSII Class A Ordinary Shares actually or constructively owned by such U.S. Holder are redeemed or (ii) all of the BSII Class A Ordinary Shares actually owned by such U.S. Holder are redeemed and such U.S. Holder is eligible to waive, and effectively waives in accordance with specific rules, the attribution of BSII Class A Ordinary Shares owned by certain family members and such U.S. Holder does not constructively own any other BSII Class A Ordinary Shares. The redemption of BSII Class A Ordinary Shares will not be essentially equivalent to a dividend if it results in a “meaningful reduction” of such U.S. Holder’s proportionate interest in the respective entity. Whether the redemption will result in a meaningful reduction in such U.S. Holder’s proportionate interest will depend on the particular facts and circumstances applicable to it. The IRS has indicated in a published ruling that even a small reduction in the proportionate interest of a small minority shareholder in a publicly held corporation who exercises no control over corporate affairs may constitute such a “meaningful reduction.” If none of the above tests is satisfied, a redemption will be treated as a distribution under Section 301 of the Code with respect to ordinary shares, and the tax effects will be as described for distributions on TGE Class A Ordinary Shares under “ Taxation of Dividends and Other Distributions on TGE Class A Ordinary Shares” above. After the application of those rules, any remaining tax basis a U.S. Holder has in the redeemed BSII Class A Ordinary Shares will be added to the adjusted tax basis in such holder’s remaining BSII Class A Ordinary Shares. If there are no remaining BSII Class A Ordinary Shares, a U.S. Holder should consult its tax advisors as to the allocation of any remaining basis. Certain U.S. Holders may be subject to special reporting requirements with respect to a redemption of BSII Class A Ordinary Shares, and such holders should consult with their tax advisors with respect to their reporting requirements. ALL U.S. HOLDERS