Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 38

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 38
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 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 Businesses.TGE has a strong combination of businesses, including businesses in the fast -growingmedia and entertainment sector, a strong asset -backedhotel portfolio and steady historical cash flow from dividend payout of its long -termequity investments. • Rich Historical Legacy in Media and Entertainment.TGE’s L’Officiel magazine, with over 100 years of heritage, and The Art Newspaper, as a leading specialist publication and the designated media outlet for Art Basel and Frieze art fairs in the past, boast rich histories and prominent standing in the fashion and art communities, as well as an extensive archive of fashion images and publications. TGE’s fashion and media ecosystem can be further enhanced with its digitalization progress. • Strong Operating Matrix of Premium Hotels. TGE’s existing hotel portfolio is positioned with a strong operating matrix and is a good platform for future scalability. • Steady cash flow from Long -Term Equity Investments. TGE’s long -termequity investment portfolio has historically generated steady dividend income and provided liquidity for the Group on an ongoing basis. • Foundational Support from the AMTD Entities. TGEhas a strong competitive advantage due to its relationship with the AMTD Entities, A conglomerate with a core portfolio in digital solutions, media and culture, education and training, and high -qualityassets, which provides the company with financial and strategic support and access to a range of synergies, relationships, and support. • Readiness to List.As a subsidiary of publicly listed companies, TGE is well -positionedto transition into a publicly listed entity. 12 • Shareholder Liquidity. The Business Combination Agreement stipulates that ordinary shares of TGE issued as consideration must be listed on a major U.S. stock exchange, which the Black Spade II Board believes has the potential to offer shareholders greater liquidity. • Experienced Leadership Team with a Proven Track Record. TGE, L’Officiel