Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 14

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 14
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 the aggregate number of ordinary shares of The Generation Essentials Group issued and outstanding immediately prior to the
Recapitalization;

“Plan of Merger”
means the Plan of Merger, by and among Black Spade II, Merger Sub and The Generation Essentials Group, substantially in the form
attached hereto as Annex B;

<div align='center'>vi</div>

“Preferred Shares”
means the non-voting redeemable preferred shares of The Generation Essentials Group;

“Public Warrants”
means warrants to purchase Class A Ordinary Shares at an exercise price of US$11.50 per share, which were issued on the Closing
Date in exchange for the public warrants of Black Spade II that were issued in the Black Spade II’s IPO;

“Recapitalization”
means the recapitalization of the share capital of The Generation Essentials Group immediately following the Re-Designation and immediately
prior to the Merger Effective Time by way of a share consolidation or subdivision such that (i) each pre-Recapitalization Class
A Ordinary Share will be consolidated or divided into a number of Class A Ordinary Shares, (ii) each pre-Capitalization Class B
Ordinary Share will be consolidated or divided into a number of Class B Ordinary Shares, and (iii) each pre-Recapitalization Preferred
Share will be consolidated or divided into a number of Preferred Shares, in each case, equal to the Adjustment Factor;

“Re-Designation”
means the re-designation of the share capital of The Generation Essentials Group immediately prior to the Recapitalization as follows:
(A) each Ordinary Share (other than non-voting ordinary shares) not held by AMTD Digital shall be re-designated and re-classified
into one Class A Ordinary Share, where each Class A Ordinary Share shall entitle its holder to one vote on all matters subject to vote
at general meetings of The Generation Essentials Group; (B) each Ordinary Share (other than non-voting ordinary shares) held by
AMTD Digital shall be re-designated and re-classified into one Class B Ordinary Share, where each Class B Ordinary Share shall entitle
its holder to 20 votes on all matters subject to vote at general meetings of The Generation Essentials Group; and (C) each non-voting
redeemable ordinary share in the share capital of The Generation Essentials Group shall be re-designated and re-classified into one non-voting
redeemable preferred share in the share capital of The Generation Essentials Group;

“Registration