Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 312

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 312
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 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 or converted into 
 any other class or series of shares at the option of the holder.                           |

The non-voting redeemable shares are
classified as equity despite their redeem