Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 69

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 69
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 with and into Black Spade II (the “Merger”), with Black Spade II surviving the Merger as a wholly -ownedsubsidiary of World Media and Entertainment Universal Inc. The parties will hold the Closing on the date which is three business days following the satisfaction or waiver of the conditions set forth in the Business Combination Agreement, unless Black Spade II and World Media and Entertainment Universal Inc. agree to another time or unless the Business Combination Agreement is terminated pursuant to its terms. Conversion of Securities Pursuant to the Business Combination Agreement, among other things, prior to the effective time of the Merger (the “Merger Effective Time”), World Media and Entertainment Universal Inc. will re -designate: •Each ordinary share of World Media and Entertainment Universal Inc. (other than non -votingordinary shares) that is not held by AMTD Digital Inc. (“AMTD Digital”) into one Class A ordinary share of World Media and Entertainment Universal Inc. (“aWME Class A Ordinary Share”); •Each ordinary share of World Media and Entertainment Universal Inc. (other than non -votingordinary shares) that is held by AMTD Digital into one Class B ordinary share of World Media and Entertainment Universal Inc. (“aWME Class B Ordinary Share”); and •Each non -votingordinary share of World Media and Entertainment Universal Inc. into one non -votingpreferred share of World Media and Entertainment Universal Inc. (“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, World Media and Entertainment Universal Inc. 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 •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 World Media and Entertainment Universal Inc. (being