Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 82

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 82
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 and the Ancillary Agreements. In addition, pursuant to the Sponsor Support Agreement, from the Closing until the date falling two years after the Closing Date, for so long as the Sponsor and its affiliates collectively hold at least 5% of the issued and outstanding TGE Ordinary Shares, the Sponsor shall be entitled to appoint up to two non -votingobservers to the board of directors of The Generation Essentials Group, and, for so long as the Sponsor and its affiliates collectively hold at least 3% but less than 5% of the issued and outstanding TGE Ordinary Shares, the Sponsor shall be entitled to appoint one non -votingobserver to the board of directors of The Generation Essentials Group. Registration Rights Agreement At the Closing, certain shareholders of The Generation Essentials Group, the Sponsor and certain affiliates of the Sponsor will enter into a registration rights agreement (the “Registration Rights Agreement”), pursuant to which The Generation Essentials Group will agree to use its reasonable best efforts to file a shelf registration statement with respect to the registrable securities defined therein within 30 days of the Closing. Pursuant to the Registration Rights Agreement, the Sponsor, AMTD Digital Inc., AMTD IDEA Group, AMTD Group Inc., and certain other current equity holders of Black Spade II and certain other current equity holders of The Generation Essentials Group may request to sell all or a portion of their registrable securities in an underwritten offering; provided that The Generation Essentials Group will only be obligated to effect an underwritten takedown if such underwritten offering will include registrable securities proposed to be sold with a total offering price reasonably expected to exceed, in the aggregate, $7,500,000. The Generation Essentials Group will also agree to provide customary “piggyback” registration rights. The Registration Rights Agreement will provide that The Generation Essentials Group will pay certain expenses relating to such registrations and indemnify the shareholders against certain liabilities. Assignment, Assumption and Amendment Agreement At the Closing, The Generation Essentials Group, Black Spade II and Continental Stock Transfer & Trust Company will enter into an assignment, assumption and amendment agreement (the “Assignment, Assumption and Amendment Agreement”) of that certain warrant agreement, dated August 27, 2024, by and between Black Spade II and Continental Stock Transfer & Trust Company (the “Existing Warrant Agreement”), pursuant to which, among other things, effective as of the Merger Effective Time, Black Spade II will assign to The Generation Essentials Group, and The Generation Essentials Group will assume, all of Black Spade II’s rights