Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 706

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 706
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, and upon consummation of the Business Combination and the other transactions contemplated by the Business Combination Agreement (collectively, the “Transactions”), Black Spade II will become a wholly owned subsidiary of The Generation Essentials Group, with the shareholders of Black Spade II becoming shareholders of The Generation Essentials Group. Pursuant to the Business Combination Agreement, among other things, prior to the effective time of the Merger (the “Merger Effective Time”), The Generation Essentials Group will re -designate: •Each ordinary share of The Generation Essentials Group (other than non -votingordinary shares) that is not held by AMTD Digital Inc. (“AMTD Digital”) into one Class A ordinary share of The Generation Essentials Group (“TGE Class A Ordinary Share”); •Each ordinary share of The Generation Essentials Group (other than non -votingordinary shares) that is held by AMTD Digital into one Class B ordinary share of The Generation Essentials Group (“TGE Class B Ordinary Share”); and •Each non -votingordinary share of The Generation Essentials Group into one non -votingpreferred share of The Generation Essentials Group (“TGE Preferred Share”). Alt-1 Pursuant to the Business Combination Agreement, immediately after the completion of the re -designationof shares and immediately prior to the Merger Effective Time, The Generation Essentials Group will effect a share consolidation or subdivision such that: •Each TGE Class A Ordinary Share will be consolidated or divided into a number of TGE Class A Ordinary Shares equal to the Adjustment Factor (as defined below); •Each TGE Class B Ordinary Share will be consolidated or divided into a number of TGE Class B Ordinary Shares equal to the Adjustment Factor; and •Each TGE Preferred Share will be consolidated or divided into a number of TGE Preferred Shares equal to the Adjustment Factor (as defined below) (such actions, collectively, the “Recapitalization”). The “Adjustment Factor” will be the number resulting from dividing the Per Share TGE Equity Value by $10.00. The “Per Share TGE Equity Value” will be obtained by dividing (a) the equity value of TGE (being $488,000,000) by (b) the aggregate number of ordinary shares of TGE issued and outstanding immediately prior to the Recapitalization. At the Merger Effective Time and as a result of the Merger: •Each Class B ordinary share of Black Spade II, par value $0.0001 per share (“BSII Class B Ordinary Shares”) that is issued