Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 41

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 41
---
 Black Spade II will serve in TGE after the Business Combination as director and neither the Sponsor or its affiliates will have any right to appoint or nominate any directors to the TGE board. This may reduce the influence that Black Spade II’s current shareholders have on the management of the post -combinationcompany. • Fees and Expenses. The risk of the expected fees and expenses associated with the Business Combination, some of which would be payable regardless of whether the Business Combination Agreement is consummated. • Other Risks. Various other risks associated with the Proposed Transactions, the business of the TGE and the business of Black Spade II described under “ Risk Factors.” In addition to considering the factors described above, the Black Spade II Board also considered that the officers and some of the directors of Black Spade II may have interests in the Proposed Transactions as individuals that are different from, or in addition to, those of other shareholders and Warrant holders generally (see “Summary — Interests of Black Spade II’s Directors and Officers in the Business Combination”). Black Spade II’s independent directors reviewed and considered these interests during their evaluation of the Proposed Transactions and in unanimously approving, as members of the Black Spade II Board, the Business Combination Agreement and the transactions contemplated therein, including the Proposed Transactions. The Black Spade II Board concluded that the potential benefits that it expected Black Spade II and its shareholders to achieve as a result of the Proposed Transactions outweighed the potentially negative factors associated with the Proposed Transactions. Accordingly, the Black Spade II Board unanimously determined that the Business Combination Agreement and the transactions contemplated thereby, including the Proposed Transactions, were advisable and fair to, and in the best interests of, Black Spade II and its shareholders. 14 Q:Why is Black Spade II providing Black Spade II Shareholders with the opportunity to vote on the Business Combination? A:Under the Black Spade II Articles, Black Spade II must provide all holders of its Public Shares with the opportunity to have their Public Shares redeemed upon the consummation of Black Spade II’s initial business combination either in conjunction with a tender offer or in conjunction with a shareholder vote. For business and other reasons, Black Spade II has elected to provide its shareholders with the opportunity to have their Public Shares redeemed in connection with a shareholder vote rather than a tender offer. Therefore, Black Spade II is seeking to obtain the approval of its shareholders of the Business Combination Proposal in order to allow its Public Shareholders to effectuate redemptions of their Public Shares