Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 223

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 223
---
 the effective time of the Merger (the “Merger Effective Time”), aWME will re -designate: •Each ordinary share of aWME (other than non -votingordinary shares) that is not held by AMTD Digital Inc. (“AMTD Digital”) into one Class A ordinary share of aWME (“aWME Class A Ordinary Share”); •Each ordinary share of aWME (other than non -votingordinary shares) that is held by AMTD Digital into one Class B ordinary share of aWME (“aWME Class B Ordinary Share”); and •Each non -votingordinary share of aWME into one non -votingpreferred share of aWME (“aWME Preferred Share”). Pursuant to the Business Combination Agreement, immediately after the completion of the re -designationof shares and immediately prior to the Merger Effective Time, aWME will effect a share consolidation or subdivision such that: •Each aWME Class A Ordinary Share will be consolidated or divided into a number of aWME Class A Ordinary Shares equal to the Adjustment Factor (as defined below); •Each aWME Class B Ordinary Share will be consolidated or divided into a number of aWME Class B Ordinary Shares equal to the Adjustment Factor; and 134 •Each aWME Preferred Share will be consolidated or divided into a number of aWME Preferred Shares equal to the Adjustment Factor (as defined below) (such actions, collectively, the “Recapitalization”). The “Adjustment Factor” will be the number resulting from dividing the Per Share aWME Equity Value by $10.00. The “Per Share aWME Equity Value” will be obtained by dividing (a) the equity value of aWME (being $488,000,000) by (b) the aggregate number of ordinary shares of aWME issued and outstanding immediately prior to the Recapitalization. At the Merger Effective Time and as a result of the Merger: •Each Class B ordinary share of Black Spade II, par value $0.0001 per share (“BSII Class B Ordinary Shares”) that is issued and outstanding immediately prior to the Merger Effective Time will be automatically cancelled in exchange for the right to receive one aWME Class A Ordinary Share; •Each Class A ordinary share of Black Spade II, par value $0.0001 per share (“BSII Class A Ordinary Share”) that is issued and outstanding immediately prior to the Merger