Company: TGE
Filing Date: 2025-05-06
Form Type: F-4/A
Source: 0001213900-25-040058
Chunk: 78

Company: Generation Essentials Group
Filing Date: 2025-05-06
Form: F-4/A
Chunk 78
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 of the Sponsor, Black Spade II’s directors and officers and certain of the Sponsor’s affiliates and employees, would own approximately 6.8% of TGE Ordinary Shares and TGE Shareholders will retain an aggregate of approximately 86.5% of TGE’s Ordinary Shares. The AMTD Entities would collectively hold 97.0% of voting interests in TGE’s Ordinary Shares. Under the maximum redemption scenario, upon completion of the Business Combination, Black Spade II Public Shareholders would own an ownership interest of approximately 0.9% of TGE’s Ordinary Shares, BSII Founder Shareholders, which consists of the Sponsor, Black Spade II’s directors and officers and certain of the Sponsor’s affiliates and employees, would own approximately 7.2% of TGE Ordinary Shares and TGE Shareholders will retain an aggregate of approximately 91.9% of TGE’s Ordinary Shares. The AMTD Entities would collectively hold 97.8% of voting interests in TGE’s Ordinary Shares. Upon the completion of the completion of the Business Combination, the AMTD Entities would hold, and AMTD Group Inc. as the Controlling Shareholder will beneficially own, 18,470,376 TGE Class A Ordinary Shares, 19,285,911 TGE Class B Ordinary Shares and 6,343,056 TGE Preferred Shares. Under the “no redemptions” scenario, the 25%, 50% and 75% redemption scenarios and the maximum redemption scenario, the AMTD Entities would hold, and AMTD Group Inc. as the Controlling Shareholder will beneficially own, 64.9%, 68.8%, 73.2%, 78.1% and 83.0% of TGE Shares, respectively. 36

The following summarizes the pro forma ownership of TGE Ordinary Shares following the Business Combination assuming the no additional redemptions, 50% of maximum redemptions and maximum redemptions scenarios.

|                                        |     |          Assuming 
 No Redemptions(1) |      |     |              |   |     |           Assuming 
 25% Redemptions(1) |      |     |              |   |     |           Assuming 
 50% Redemptions(1) |      |     |              |   |     |           Assuming 
 75% Redemptions(1) |      |     |              |   |     | Assuming Maximum 
   Redemptions(1)