Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 80

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 80
---
 Shares received by non -redeemingBlack Spade II Shareholders as a result of the Merger. (4)Consists of the Sponsor, Black Spade II’s directors and officers and certain of the Sponsor’s affiliates and employees. (5)After giving effect to the Recapitalization. (6)Represents TGE Class A Ordinary Shares received by existing shareholders of TGE as a result of the Merger. (7)AMTD Digital Inc. will own all of the 19,285,911 issued and outstanding TGE Class B Ordinary Shares immediately following the consummation of the Business Combination.

36

(8)AMTD Digital Inc. will own all of the 6,343,056 issued and outstanding TGE Preferred Share immediately following the consummation of the Business Combination. (9)Upon completion of the Business Combination, (i) AMTD Digital Inc. will hold 19,285,911 TGE Class B Ordinary Shares and 6,343,056 TGE Preferred Shares, (ii) AMTD IDEA Group will hold 18,425,068 TGE Class A Ordinary Shares, (iii) AMTD Group Inc. will hold 45,307 TGE Class A Ordinary Shares, (iv) the AMTD Entities will collectively hold, and AMTD Group Inc. as the Controlling Shareholder will beneficially own, 18,470,376 TGE Class A Ordinary Shares, 19,285,911 TGE Class B Ordinary Shares and 6,343,056 TGE Preferred Shares. Under the “no redemptions” scenario, the 25%, 50% and 75% redemption scenarios and the maximum redemption scenario, the AMTD Entities would hold, and AMTD Group Inc. as the Controlling Shareholder will beneficially own, 64.9%, 68.8%, 73.2%, 78.1% and 83.0% of TGE Shares, respectively. The actual ownership of TGE Class A Ordinary Shares, TGE Class B Ordinary Shares and TGE Preferred Shares as a result of the Business Combination will be within the parameters described by the five scenarios above. However, there can be no assurance regarding which scenario will be closest to the actual results. Dilution Dilution per share to the original investors in Black Spade II is determined by subtracting pro forma as adjusted net tangible book value per share after the Business Combination from the initial public offering price per share paid by original investors in Black Spade II