Company: TGE
Filing Date: 2025-05-06
Form Type: F-4/A
Source: 0001213900-25-040058
Chunk: 192

Company: Generation Essentials Group
Filing Date: 2025-05-06
Form: F-4/A
Chunk 192
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 precedents) to allow for the warrants to be classified as equity in our financial statements (provided that such amendment shall not increase the warrant price or shorten the exercise period), but otherwise requires the approval by the holders of at least 50% of the then outstanding public warrants and private placement warrants to make any change that adversely affects the interests of the registered holders of public warrants. Accordingly, Black Spade II may amend the terms of the public warrants (i) in a manner adverse to a holder of public warrants if holders of at least 50% of the then outstanding public warrants and private placement warrants approve of such amendment or (ii) to the extent necessary for the warrants in the good faith determination of our Board of Directors (taking into account then existing market precedents) to allow for the warrants to be classified as equity in our financial statements without the consent of any shareholder or warrant holder; provided that this clause (ii) shall not allow any amendment that would increase the warrant price or shorten the exercise period. Although Black Spade II’s ability to amend the terms of the public warrants with the consent of at least 50% of the then outstanding public warrants and private placement warrants is unlimited, examples of such amendments could be amendments to, among other things, increase the exercise price of the warrants, convert the warrants into cash or shares, shorten the exercise period or decrease the number of BSII Class A Ordinary Shares purchasable upon exercise of a warrant. Upon the release of the restrictions in the Lock-Up Agreements, additional resales of TGE Ordinary Share from the shareholders that were subject to the lock-up restrictions could cause the market price of TGE Ordinary Share to drop significantly, even if TGE’s business is doing well. Pursuant to the TGE Shareholders Support Agreement, each of AMTD Digital, AMTD IDEA Group and AMTD Group Inc. (each, a “Lock -UpObligor”) agreed not to transfer or sell, during a period of three (3) years from and after the Closing Date, subject to customary exceptions, any TGE Ordinary Shares or other equity securities of TGE held by such Lock -UpObligor immediately after the Closing (including the Earnout Shares), excluding (i) any TGE Ordinary Shares acquired in open market transactions after the Closing, (ii) any TGE Ordinary Shares received by such Lock -UpObligor upon the exercise, conversion or settlement of options or warrants held by such Lock -UpObligor immediately after Closing (along with such options or