Company: TGE
Filing Date: 2025-05-06
Form Type: F-4/A
Source: 0001213900-25-040058
Chunk: 231

Company: Generation Essentials Group
Filing Date: 2025-05-06
Form: F-4/A
Chunk 231
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 to or greater than $30.00 for forty (40) trading days during any continuous sixty (60) trading day period; or (b)(i) the VWAP of TGE Class A Ordinary Shares is equal to or greater than $20.00 for forty (40) trading days during any continuous sixty (60) trading day period; (ii) TGE or any of its subsidiaries has acquired not less than 51% of the ownership interest in a hotel of not less than 100 rooms (including with all permits, licenses, consents and approvals as may be required for such hotel to operate) which is fully operating during the Earnout Period and not less than 51% interest in the management contract with respect to such hotel; and (iii) TGE or any of its subsidiaries has acquired not less than 51% of the ownership interest in each of at least five (5) Eligible Coffee Shops and not less than 51% interest in each management contract with respect to each such Eligible Coffee Shop. As used herein, “Eligible Coffee Shop” means a commercial shop retailing coffee products under the “L’Officiel” brand, which has not less than 20 seats and is fully operating during the Earnout Period and has all permits, licenses, consents and approvals as may be required for it to operate (but excluding any “pop -up” shops or other shops or retail facilities of a temporary nature). Nothing in the foregoing is intended to restrict TGE’s discretion to issue equity incentives after the Closing where it believes such issuance is in the best interests of TGE. Appraisal Rights under the Cayman Islands Companies Act Notwithstanding the above, the Cayman Islands Companies Act prescribes when shareholder appraisal rights will be available and sets the limitations on such rights. Where such rights are available, shareholders are entitled to receive fair value for their shares. However, regardless of whether such rights are or are not available, Black Spade II Public Shareholders are still entitled to exercise the rights of redemption in respect to their BSII Public Shares as set out herein, and the Black Spade II Board has determined that the redemption proceeds payable to Black Spade II Public Shareholders who exercise such redemption rights represent the fair value of those shares. See the section titled “Proposal Two — The Merger Proposal — Appraisal Rights Under the Cayman Islands Companies Act” for additional information. Holders of BSII Public Warrants or Units do not have appraisal rights in respect to such securities in connection with the