Company: TGE
Filing Date: 2025-02-19
Form Type: DRS
Source: 0001213900-25-015012
Chunk: 102

Company: Generation Essentials Group
Filing Date: 2025-02-19
Form: DRS
Chunk 102
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’s operating results and financial statements may not be comparable to the operating results and financial statements of other companies who have adopted the new or revised accounting standards. The combined company will remain an emerging growth company until the earlier of: (i) the last day of the fiscal year (a) following the fifth anniversary of the Closing, (b) in which World Media and Entertainment Universal Inc. has total annual gross revenue of at least US$1.235 billion, or (c) in which the combined company is deemed to be a large accelerated filer, which means the market value of the combined company’s common equity that is held by non -affiliatesexceeds US$700 million as of the last business day of its most recently completed second fiscal quarter; and (ii) the date on which the combined company has issued more than US$1.00 billion in non -convertibledebt securities during the prior three -yearperiod. References herein to “emerging growth company” have the meaning associated with it in the JOBS Act. Foreign Private Issuer World Media and Entertainment Universal Inc. is a foreign private issuer within the meaning of the rules under the Exchange Act and, as such, World Media and Entertainment Universal Inc. is permitted to follow the corporate governance practices of its home country, the Cayman Islands, in lieu of the corporate governance standards of applicable to U.S. domestic companies. For example, World Media and Entertainment Universal Inc. is not required to have a majority of the board consisting of independent directors nor have a compensation committee or a nominating and corporate governance committee consisting entirely of independent directors. As a result, World Media and Entertainment Universal Inc. shareholders may not have the same protection afforded to shareholders of U.S. domestic companies that are subject to corporate governance requirements. As a foreign private issuer, World Media and Entertainment Universal Inc. is also subject to reduced disclosure requirements and are exempt from certain provisions of the U.S. securities rules and regulations applicable to U.S. domestic issuers such as the rules regulating solicitation of proxies and certain insider reporting and short -swingprofit rules. 51 Controlled Company By virtue of being a controlled company under listing rules, World Media and Entertainment Universal Inc. may elect not to comply with certain corporate governance requirements, including that: •a majority of board of directors must be independent directors; •the compensation and nominating committees composed solely of independent directors; •the compensation of executive officers determined by a majority of the independent directors or a compensation committee composed solely of independent directors; and •