Company: TGE
Filing Date: 2025-05-06
Form Type: F-4/A
Source: 0001213900-25-040058
Chunk: 100

Company: Generation Essentials Group
Filing Date: 2025-05-06
Form: F-4/A
Chunk 100
---
. • Reduced Influence of Black Spade II Shareholders.The existing Black Spade II Shareholders will hold a minority position in TGE after the Business Combination. In addition, although the Sponsor may appoint up to two non -votingobservers to TGE’s board of directors for so long as the Sponsor and its affiliates maintain a minimum level of ownership in the TGE Class A Ordinary Shares, no incumbent director of 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 below “ Summary — Interests of Black Spade II 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. Interests of Black Spade II Directors and Officers in the Business Combination When considering the Black Spade II Board’s recommendation that Black Spade II Shareholders vote in favor of the approval of the Business Combination Proposal and the other proposals presented for shareholders’ approval in this proxy statement/prospectus, Black Spade II Shareholders should be aware that the Sponsor and certain of Black Spade II’s