Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 368

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 368
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 statements of Black Spade II have been prepared in accordance with U.S. GAAP. For accounting purposes, the financial statements of the combined company will represent a continuation of the consolidated financial statements of TGE with the acquisition being treated as the equivalent of TGE transferring consideration for the net assets of Black Spade II and the service of a stock exchange listing for its shares. The net assets of TGE will be stated at their pre -combinationcarrying amounts, with no goodwill or other intangible assets recorded. The Business Combination, which is not within the scope of IFRS 3 — Business Combinations(“IFRS 3”) since Black Spade II does not meet the definition of a business in accordance with IFRS3, is accounted for within the scope of IFRS 2 — Share -based Payment(“IFRS 2”). Any excess of the fair value of consideration transferred to Black Spade II shareholders over the fair value of Black Spade II’s identifiable net assets acquired represents compensation for the service of a stock exchange listing for its shares and is expensed as incurred. One -timedirect and incremental transaction costs anticipated to be incurred prior to, or concurrent with, the consummation are reflected in the unaudited pro forma condensed combined statement of profit or loss and other comprehensive income and are recognized as expenses. The unaudited pro forma adjustments are based on information currently available, and assumptions and estimates underlying the unaudited pro forma adjustments are described in the accompanying notes. Actual results may differ materially from the assumptions used to present the accompanying unaudited pro forma condensed combined financial information. TGE and Black Spade II did not have any historical relationship prior to the Transactions. Accordingly, no pro forma adjustments were required to eliminate activities between the companies. The unaudited pro forma condensed combined statement of financial position as of December 31, 2024, assumes that the Transactions occurred on December 31, 2024. The unaudited pro forma condensed combined statement of profit or loss and other comprehensive income for the year ended December 31, 2024 presents the pro forma adjustments of the Transactions, as if they had been completed on January 1, 2024. The unaudited pro forma condensed combined statement of financial position as of December 31, 2024 has been prepared using, and should be read in conjunction with, the following: •Black Spade II’s audited balance sheet as of December31, 2024 and the related notes included elsewhere