Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 48

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 48
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, 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. 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. The actual ownership of TGE Class A Ordinary Shares, TGE Class B Ordinary Shares and TGE Preferred Shares as a result of the Business Combination will be within the parameters described by the five scenarios above. However, there can be no assurance regarding which scenario will be closest to the actual results. The sensitivity table below sets forth the potential additional dilutive impact of each additional source of dilution to the Black Spade II Public Shareholders’ ownership of TGE, namely (a) 16,220,000 TGE Ordinary Shares that would be issuable in aggregate upon the exercise of 11,120,000 Private Placement Warrants and 5,100,000 Public Warrants; (b) TGE Ordinary Shares representing Earnout Shares that will be issuable if the relevant triggering events described herein occur; and (c) TGE Class A Ordinary Shares that will be available for issuance under TGE’s incentive award plan immediately following the completion of the Business Combination (each, an “Additional Dilution Source,” and collectively, the “Additional Dilution Sources”) based on the varying levels of redemptions by the Black Spade II