Company: TGE
Filing Date: 2025-04-11
Form Type: F-4
Source: 0001213900-25-031177
Chunk: 92

Company: Generation Essentials Group
Filing Date: 2025-04-11
Form: F-4
Chunk 92
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 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.” 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 conducted by Black Spade II’s management and by Black Spade II’s legal and financial advisors, which included, among other things: •meetings with TGE’s management team; •review of the media and entertainment industry, including historical growth trends and market share information, site visits to various local offices of the L’Officiel magazine and The Art Newspaper and meetings with the local team, and review of the performance of recent movies co -producedby TGE; •review of the premium hospitality and properties industry and site visits to TGE’s hotels; 46 •review of the quality of TGE’s financial assets and the stability of the relevant dividend payout history and trend; •analysis of business