Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 92

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 92
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uant to the Business Combination Agreement, the Business Combination is conditioned upon the approval of holders of the requisite number of outstanding BSII Shares entitled to vote, whether in person or by proxy, at the Meeting. In accordance with the Sponsor Support Agreement entered into concurrently with the execution of the Business Combination Agreement, holders of 3,825,000shares of BSII Class A Ordinary Shares (or 20% of the outstanding shares of BSII Shares as of December 31, 2024) have agreed to vote in favor of each of the proposals, subject to certain customary conditions. For more information about these proposals, see the section entitled “ Quorum and Vote Required for the Black Spade II Proposals.” Recommendation to Black Spade II Shareholders The Black Spade II Board believes that the Business Combination Proposal and the other Proposals to be presented at the Meeting are fair to and in the best interest of Black Spade II Shareholders and unanimously recommends that its shareholders vote “FOR” the Business Combination Proposal, “FOR” the Merger Proposal and, if presented, “FOR” the Adjournment Proposal. The Black Spade II Board’s Reasons for Approval of the Proposed Transaction In evaluating the Proposed Transactions and making the above determinations and its recommendation, the Black Spade II Board consulted with its advisors and its management and considered a number of factors, including, but not limited to, the factors discussed below. In light of the wide number and complexity of the factors considered in connection with its evaluation of the Proposed Transactions, the Black Spade II Board did not consider it practicable to, and did not attempt to, quantify or otherwise assign relative weights to the specific factors that it considered in reaching its determination and supporting its decision. The Black Spade II Board viewed its decision as being based on all of the information available and the factors presented to and considered by it. In addition, individual directors may have given different weight to different factors. This explanation of the Black Spade II Board’s reasons for the Proposed Transactions and all other information presented in this section is forward -lookingin nature and, therefore, should be read in light of the factors discussed under “Cautionary Statement Regarding Forward -LookingStatements.” 45 The Black Spade II Board considered a number of factors pertaining to the Proposed Transactions as generally supporting its decision to enter into the Business Combination Agreement, and the Ancillary Agreements, and the transactions contemplated thereby. Before reaching its decision to approve the Proposed Transactions, the Black Spade II Board reviewed the results of due diligence