Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 94

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 94
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 by Black Spade II’s legal and financial advisors, which included, among other things: •meetings with TGE’s management team; •review of the media and entertainment industry, including historical growth trends and market share information, site visits to various local offices of the L’Officiel magazine and The Art Newspaper and meetings with the local team, and review of the performance of recent movies co -producedby TGE; •review of the premium hospitality and properties industry and site visits to TGE’s hotels; 46 •review of the quality of TGE’s financial assets and the stability of the relevant dividend payout history and trend; •analysis of business of L’Officiel magazine and The Art Newspaper and planned expansion strategies and operations; •analysis of the quality and viability of TGE’s hotels and properties; •review of the strength of TGE’s key brand names and intellectual property; •review of TGE’s financial statements and TGE’s intellectual property rights; •analysis of TGE’s recent business progress in different sectors; •financial and valuation analysis of TGE and the Business Combination; and •assessment of TGE’s readiness to list as a public company. The Black Spade II Board did not review any financial projections of TGE prepared by any parties named herein in connection with the business combination. The Black Spade II Board ultimately determined that the decision to pursue a business combination with TGE over continuing to search for a business combination target was generally the result of, but not limited to, one or more of the following reasons: •the determination of Black Spade II’s management and the Sponsor that: (i) the market opportunity was substantial, and (ii) TGE was an attractive investment opportunity because of its uniqueness and leading position in the media and entertainment industry, the digitalization of its media business and its potential expansion plans and growth opportunity globally; •the determination that TGE fit into Black Spade II’s target sectors and was a more viable opportunity than the other potential acquisitions; and •the determination that, given the potential synergies that could be achieved between the parties, the combination of Black Spade II and TGE has the potential to increase substantially the likelihood of TGE achieving its growth potential and thereby create shareholder value. Specifically, the Black Spade II Board considered a number of factors pertaining to the Proposed Transactions as generally supporting its decision to approve the entry into the Business Combination Agreement and the transactions contemplated therein, including, but not limited to, the following material factors: • Strong Combination of Complementary