Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 307

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 307
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 then immediate holding company of the Company transferred 5,107, 4,880 and        
 12 shares of the Company to AMTD Digital Inc., AMTD IDEA Group and AMTD Group Inc., respectively, 
 and, at the same time, World Media and Entertainment Group Inc. repurchased its shares from       
 AMTD Digital Inc., AMTD IDEA Group and AMTD Group Inc.                                            |

| (iii) | In November 2024, the Company issued 857 and                                               
 388 shares to two shareholders with the consideration on the injection of listed shares in 
 Hong Kong and a unit of a property located in New York, respectively, into the             
 Company.                                                                                   |

Non-voting redeemable preferred shares

On November 25, 2024, the Company
reclassified and re-designated 1,680 authorized share into non-voting redeemable preferred shares. On the same date, the Company issued
1,680 non-voting redeemable preferred shares to AMTD Digital Inc. and AMTD Digital Inc. issued 13,333,333 Class A shares to the
Company at a consideration of US$100 million. AMTD Digital Inc., as the holder of non-voting redeemable preferred shares shall:

| (a) | not entitle to vote                                                                       
 of any other matters subject to the vote at the general meeting of the Company except for 
 any transaction that may result in a change of control;                                   |

| (b) | not be entitled to                                                                 
 any dividends, unless the board of directors of the Company may otherwise declare; |

| (c) | in the event of a liquidation,                                                            
 winding-up or dissolution of the Company, be entitled, prior and in preference to holders 
 of the voting ordinary shares, to the distribution of the assets of the Company available 
 for distribution;                                                                         |

| (d) | be subject to redemption                                                                   
 and repurchase of the non-voting redeemable preferred shares after one year of issuance at 
 par value at the option of the Company; and                                                |

<div align='center'>F-66

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 28. | SHARE CAPITAL (cont.) |

| (e) | not be entitled to                                                                         
 be have any non-voting redeemable preferred shares redeemed, repurchased