Company: TGE
Filing Date: 2025-04-11
Form Type: F-4
Source: 0001213900-25-031177
Chunk: 177

Company: Generation Essentials Group
Filing Date: 2025-04-11
Form: F-4
Chunk 177
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 own approximately 20% of the issued and outstanding BSII Shares. The existence of financial and personal interests of Black Spade II’s directors and officers may result in a conflict of interest on part of one or more of them between what they may believe is best for Black Spade II and what they may believe is best for themselves in determining whether or not to make their recommendation to vote in favor of the approval of the Business Combination Proposal and the other Proposals described in this proxy statement/prospectus. See “Summary of the Proxy Statement/Prospectus — Interests of Black Spade II Directors and Officers in the Business Combination.” Under Cayman Islands law, directors and officers owe certain fiduciary duties, including, among others, a duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole and a duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose. Directors also owe a duty of care, which is not fiduciary in nature. Accordingly, directors and officers have a duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interest, and this includes a duty not to engage in self -dealing, or to otherwise benefit as a result of their position. Black Spade II’s directors and officers considered their fiduciary duty and the conflicts of interests, among other matters, in evaluating the Business Combination and in recommending to shareholders that they approve the Business Combination. You should also read the section titled “Summary — The Business Combination Agreement.” The exercise of discretion by Black Spade II’s directors and officers in agreeing to changes to the terms of or waivers of closing conditions in the Business Combination Agreement may result in a conflict of interest when determining whether such changes to the terms of the Business Combination Agreement or waivers of conditions are appropriate and in the best interests of Black Spade II securityholders. In the period leading up to the Closing, other events may occur that, pursuant to the Business Combination Agreement, would require Black Spade II to agree to amend the Business Combination Agreement, to consent to certain actions or to waive rights that Black Spade II is entitled to under the Business Combination Agreement. Such events could arise because of changes in the course of TGE’s business, a request by TGE to undertake actions that would otherwise be prohibited by the terms of the Business Combination Agreement, the occurrence of events that would have a material adverse effect on TGE’s business and