Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 401

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 401
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 of the PFIC rules under their particular circumstances. THE RULES DEALING WITH PFICS ARE VERY COMPLEX AND ARE IMPACTED BY VARIOUS FACTORS IN ADDITION TO THOSE DESCRIBED ABOVE. ALL U.S. HOLDERS SHOULD CONSULT THEIR TAX ADVISORS REGARDING THE CONSEQUENCES TO THEM OF THE PFIC RULES, INCLUDING, WITHOUT LIMITATION, WHETHER A QEF ELECTION, A MARK -TO -MARKET ELECTION, OR ANY OTHER ELECTION IS AVAILABLE AND THE CONSEQUENCES TO THEM OF ANY SUCH ELECTION, AND THE IMPACT OF ANY PROPOSED OR FINAL PFIC TREASURY REGULATIONS. Effects to U.S. Holders of Exercising Redemption Rights Subject to the PFIC rules discussed above, the U.S. federal income tax consequences to a U.S. Holder of BSII Class A Ordinary Shares that exercises its redemption rights to receive cash in exchange for all or a portion of its BSII Class A Ordinary Shares will depend on whether the redemption qualifies as a sale of such shares redeemed under Section 302 of the Code or is treated as a distribution under Section 301 of the Code, as well as on whether such holder has made a timely QEF Election or mark -to -marketelection (each as discussed above). 253 The redemption of BSII Class A Ordinary Shares will generally qualify as a sale of the BSII Class A Ordinary Shares that are redeemed if such redemption (i) is “substantially disproportionate” with respect to the redeeming U.S. Holder, (ii) results in a “complete termination” of such U.S. Holder’s interest or (iii) is “not essentially equivalent to a dividend” with respect to such U.S. Holder. Under these tests, which are explained more fully below, it is expected that a redeeming U.S. Holder will generally be treated as selling its BSII Class A Ordinary Shares with the U.S. federal income tax consequences generally described above with respect to TGE Class A Ordinary Shares under “— Taxation on the Disposition of TGE Securities.” For purposes of such tests, a U.S. Holder takes into account not only BSII Class A Ordinary Shares actually owned by such U.S. Holder, but also BSII Class A Ordinary Shares that are constructively owned by such U.S. Holder. A redeeming U.S. Holder may constructively own, in addition to BSII Class A Ordinary Shares owned directly, BSII Class A Ordinary Shares owned by certain related