Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 95

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 95
---
 Businesses.TGE has a strong combination of businesses, including businesses in the fast -growingmedia and entertainment sector, a strong asset -backedhotel portfolio and steady historical cash flow from dividend payout of its long -termequity investments. • Rich Historical Legacy in Media and Entertainment.TGE’s L’Officiel magazine, with over 100 years of heritage, and The Art Newspaper, as a leading specialist publication and the designated media outlet for Art Basel and Frieze art fairs in the past, boast rich histories and prominent standing in the fashion and art communities, as well as an extensive archive of fashion images and publications. TGE’s fashion and media ecosystem can be further enhanced with its digitalization progress. • Strong Operating Matrix of Premium Hotels.TGE’s existing hotel portfolio is positioned with a strong operating matrix and is a good platform for future scalability. • Steady cash flow from Long -Term Equity Investments.TGE’s long -termequity investment portfolio has historically generated steady dividend income and provided liquidity for the Group on an ongoing basis. • Foundational Support from the AMTD Entities. TGEhas a strong competitive advantage due to its relationship with the AMTD Entities, A conglomerate with a core portfolio in digital solutions, media and culture, education and training, and high -qualityassets, which provides the company with financial and strategic support and access to a range of synergies, relationships, and support. 47 • Readiness to List.As a subsidiary of publicly listed companies, TGE is well -positionedto transition into a publicly listed entity. • Shareholder Liquidity.The Business Combination Agreement stipulates that ordinary shares of TGE issued as consideration must be listed on a major U.S. stock exchange, which the Black Spade II Board believes has the potential to offer shareholders greater liquidity. • Experienced Leadership Team with a Proven Track Record.TGE, L’Officiel magazine and The Art Newspaper are led by an experienced management team with deep experience in fashion, art and media across different geographies. • Due Diligence.The due diligence examinations of Black Spade II’s management and financial and legal advisors and discussions with TGE’s management and financial and legal advisors; • Other Alternatives.The Black Spade II Board believes, after a thorough review of other business combination opportunities reasonably available to Black Spade II, that the Business Combination, in part taking into account the readiness of TGE to become a listed company, represents the best potential business combination for Black Spade II and the most attractive opportunity for Black