Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 56

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 56
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b) the completion of the Business Combination, and (iii) to waive their rights to liquidating distributions from the Trust Account with respect to their Founder Shares if Black Spade II fails to complete an initial business combination, although they will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares they hold. Other than inducing the underwriters to proceed with Black Spade II’s IPO, no other consideration was received for such waivers. As of the date of this proxy statement/prospectus, the Sponsor and Black Spade II’s directors and officers and certain employees of the Sponsor’s affiliates own approximately 20% of the issued and outstanding BSII Shares. The existence of financial and personal interests of Black Spade II’s directors and officers may result in a conflict of interest on part of one or more of them between what they may believe is best for Black Spade II and what they may believe is best for themselves in determining whether or not to make their recommendation to vote in favor of the approval of the Business Combination Proposal and the other Proposals described in this proxy statement/prospectus. See “Summary of the Proxy Statement/Prospectus — Interests of Black Spade II Directors and Officers in the Business Combination.” Under Cayman Islands law, directors and officers owe certain fiduciary duties, including, among others, a duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole and a duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose. Directors also owe a duty of care, which is not fiduciary in nature. Accordingly, directors and officers have a duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interest, and this includes a duty not to engage in self -dealing, or to otherwise benefit as a result of their position. Black Spade II’s directors and officers considered their fiduciary duty and the conflicts of interests, among other matters, in evaluating the Business Combination and in recommending to shareholders that they approve the Business Combination. Q:What are the U.S. federal income tax consequences of the merger to U.S. Holders of BSII Class A Ordinary Shares and warrants? A:As discussed in more detail below under the section titled “Tax Considerations — U.S. Federal Income Tax Considerations — Effects of the Business Combination — Characterization of the Business Combination” Black Spade II and TGE intend