Company: TGE
Filing Date: 2025-05-06
Form Type: F-4/A
Source: 0001213900-25-040058
Chunk: 258

Company: Generation Essentials Group
Filing Date: 2025-05-06
Form: F-4/A
Chunk 258
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 Combination; and •assessment of TGE’s readiness to list as a public company. 152 The Black Spade II Board did not review any financial projections of TGE prepared by any parties named herein in connection with the business combination. The Black Spade II Board ultimately determined that the decision to pursue a business combination with TGE over continuing to search for a business combination target was generally the result of, but not limited to, one or more of the following reasons: •the determination of Black Spade II’s management and the Sponsor that: (i) the market opportunity was substantial, and (ii) TGE was an attractive investment opportunity because of its uniqueness and leading position in the media and entertainment industry, the digitalization of its media business and its potential expansion plans and growth opportunity globally; •the determination that TGE fit into Black Spade II’s target sectors and was a more viable opportunity than the other potential acquisitions; and •the determination that, given the potential synergies that could be achieved between the parties, the combination of Black Spade II and TGE has the potential to increase substantially the likelihood of TGE achieving its growth potential and thereby create shareholder value. Specifically, the Black Spade II Board considered a number of factors pertaining to the Proposed Transactions as generally supporting its decision to approve the entry into the Business Combination Agreement and the transactions contemplated therein, including, but not limited to, the following material factors: • Strong Combination of Complementary Businesses.TGE has a strong combination of businesses, including businesses in the fast -growingmedia and entertainment sector, a strong asset -backedhotel portfolio and steady historical cash flow from dividend payout of its long -termequity investments. • Rich Historical Legacy in Media and Entertainment. TGE’s L’Officiel magazine, with over 100 years of heritage, and The Art Newspaper, as a leading specialist publication and the designated media outlet for Art Basel and Frieze art fairs in the past, boast rich histories and prominent standing in the fashion and art communities, as well as an extensive archive of fashion images and publications. TGE’s fashion and media ecosystem can be further enhanced with its digitalization progress. • Strong Operating Matrix of Premium Hotels. TGE’s existing hotel portfolio is positioned with a strong operating matrix and is a good platform for future scalability. • Steady cash flow from Long -Term Equity Investments. TGE’s long -termequity investment portfolio has historically generated steady dividend income and provided liquidity for the Group on an ongoing basis. • Foundational