Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 6

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 6
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 Class A Ordinary Shares,aWME Warrants, andaWME Class A Ordinary Shares issuable upon the exercise of the aWME Warrants (“aWME Warrant Shares”). World Media and Entertainment Universal Inc. will be an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012, and is therefore eligible to take advantage of certain reduced reporting requirements otherwise applicable to other public companies. World Media and Entertainment Universal Inc. will also be a “foreign private issuer” as defined in the Exchange Act, and will be exempt from certain rules under the Exchange Act that impose certain disclosure obligations and procedural requirements for proxy solicitations under Section 14 of the Exchange Act. In addition, officers, directors and principal shareholders of World Media and Entertainment Universal Inc. will be exempt from the reporting and “short -swing” profit recovery provisions under Section 16 of the Exchange Act. Moreover, World Media and Entertainment Universal Inc. will not be required to file periodic reports and financial statements with the U.S. Securities and Exchange Commission as frequently or as promptly as U.S. companies whose securities are registered under the Exchange Act. World Media and Entertainment Universal Inc. will qualify as a “controlled company” as defined under the corporate governance rules of, because it is expected that the Controlling Shareholder will beneficially own more than 50% of the total voting power of all issued and outstanding aWME Ordinary Shares immediately following the consummation of the Business Combination. For so long as World Media and Entertainment Universal Inc. remains a controlled company under that definition, it is permitted to elect to rely, and may rely, on certain exemptions from corporate governance rules, including (i) an exemption from the rule that a majority of its board of directors must be independent directors; (ii) an exemption from the rule that director nominees must be selected or recommended solely by independent directors; (iii) an exemption from the rule that the compensation committee must be comprised solely of independent directors and (iv) an exemption from the requirement that an audit committee be comprised of at least three members under. World Media and Entertainment Universal Inc. is not an operating company but a holding company incorporated in the Cayman Islands as an exempted company. World Media and Entertainment Universal Inc. conducts its operations through its subsidiaries. The securities registered herein are securities of World Media and Entertainment Universal Inc., not those of its operating subsidiaries. Therefore, investors in World Media and Entertainment Universal Inc. are not acquiring equity interest in any operating company but instead are acquiring interest