Company: TGE
Filing Date: 2025-04-11
Form Type: F-4
Source: 0001213900-25-031177
Chunk: 44

Company: Generation Essentials Group
Filing Date: 2025-04-11
Form: F-4
Chunk 44
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 F -4of which this proxy statement/prospectus forms a part and no action seeking such stop order having been threatened or initiated. For a summary of all of the conditions that must be satisfied or waived prior to completion of the Business Combination, see the section titled “The Business Combination Agreement — Conditions to Closing of the Transactions.” Q:What equity stake will Black Spade II Shareholders and TGE Shareholders have in TGE after the Business Combination? A:It is difficult to predict how many of the Black Spade II Public Shareholders will exercise their right to have their BSII Class A Ordinary Shares redeemed for cash. As a result, we have elected to provide three different redemption scenarios of Public Shares into cash, each of which produces different allocations of the ownership of TGE ordinary shares. The Maximum Redemptions scenario refers to a scenario where Public Shareholders exercise rights to redeem 14,809,714 BSII Class A Ordinary Shares, which represents the maximum level of redemptions that could occur without a failure to satisfy the condition set forth in the Business Combination Agreement that TGE (as the surviving company of the merger) has net tangible assets of at least $5,000,001 upon consummation of the Business Combination. The 50% of the Maximum Redemptions scenario refers to a scenario where Public Shareholders exercise rights to redeem 7,650,000 BSII Class A Ordinary Shares, which represents 50% of the BSII Class A Ordinary Shares subject to possible redemption. The No Redemptions scenario refers to a scenario where Public Shareholders do not exercise rights to redeem BSII Class A Ordinary Shares, which represents the minimum level of redemptions that could occur. If the actual facts are different than the assumptions set forth above, the share amounts and percentage ownership numbers set forth above will be different. The actual results will likely be within the parameters described by the three redemption scenarios; however, there can be no assurance regarding which scenario will be closest to the actual results. The following summarizes the pro forma ownership of TGE ordinary shares immediately following the Business Combination under three redemption scenarios: no redemptions, 50% redemptions, and maximum redemptions. The share amounts and ownership percentages set forth above are not indicative of voting percentages.

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