Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 132

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 132
---

business is also subject to the laws and regulations governing the distribution of audiovisual works in Italy. The framework includes
legislative decree 31 July 2005, no. 177 (the “Consolidated Italian Audiovisual Media Act” or “CAMA”),
as subsequently amended including to implement directive (EU) 2018/1808, which in turn amended the so-called “Audiovisual Media
Services Directive (AVMS Directive)” (i.e. directive 2010/13/EU).

The CAMA governs the transmission
of television and radio programmes and includes provisions on audiovisual commercial communications and video-sharing platform services.
It applies to audiovisual and radio media service providers operating within Italian territory, ensuring that they comply with both national
and EU regulations.

Advertising in magazines
and newspapers

The Italian subsidiary’s
business is subject to laws and regulations governing advertising in magazines and newspapers. Specific provisions requiring transparency
in identifying sponsored content and differentiating it from editorial content to prohibit potentially misleading and / or hidden advertising
are contained in the CAMA as well as the articles 18-32 of the legislative decree 6 September 2005, no. 206 (the “Italian Consumer Code”), as subsequently amended.

To the extent that the Italian
subsidiary is also directly or indirectly involved in advertisement content through celebrities or influencers, Italian subsidiary may
also be subject to the guidelines published on 16 January 2024 by the Autorità Garante delle Comunicazioni (AGCM) with
the Resolution no. 7/24/CONS in relation to compliance to CAMA and transparency requirements by influencers.

Singapore

Magazines Publishing

Background

Part of our media and entertainment
business operates in Singapore. We currently hold three separate active newspaper permits for the publication of three different L’Officiel
magazines in Singapore.

These magazines are considered
lifestyle magazines.

The Newspaper and Printing
Presses Act 1974, or NPPA, is the legislation applicable to the licensing of newspaper companies in Singapore. The Newspaper and
Printing Presses (Applications and Permits) Rules 2004 is the applicable subsidiary legislation and governs the newspaper permit
application process.

The Infocomm Media Development
Authority, or the IMDA, is a statutory board of the Singapore government which operates under the auspices of the Ministry of Digital
Development and Information Singapore and regulates the issuance of newspaper permits in Singapore.

The Registrar of Newspapers
as defined in NPPA reports to the