Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 251

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 251
---
 •recent historical operating performance with strong track records; •market leadership with sustainable competitive advantage; •positive revenue and EBITDA and growth potential; •potential synergies brought by the business combination and Black Spade II’s expertise in capital markets; and •a strong and experienced management and operational teams that Black Spade II could potentially work alongside and augment as the business scales. 147 During the search process, Black Spade II reviewed approximately 15 potential targets in a wide range of industries, including enabling technology, lifestyle brands, products, or services and entertainment media, and entered into non -disclosureagreements and engaged in preliminary discussions with respect to potential business combination opportunities with approximately six potential targets (collectively, the “Other Potential Acquisitions”). Black Spade II did not execute any letters of intent or memorandum of understanding with other companies. The Black Spade II Board ultimately determined to pursue a business combination with TGE over the Other Potential Acquisitions. Upon conducting further detailed due diligence of these potential acquisition targets, Black Spade II together with the management and/or shareholders of these potential targets decided not to proceed to drafting merger agreements. With the exception of TGE, Black Spade II did not consider the other alternative acquisition targets that it evaluated to be as compelling when taking into consideration their respective business prospects, strategy, management teams, structure, growth potential, likelihood of execution and valuation considerations. Mr. Dennis Tam, chairman and co -CEOof Black Spade II was introduced to Dr. Calvin Choi, and director of TGE, through a mutual business acquaintance. The first meeting between Mr. Tam and Dr. Choi took place in Dubai on September 5, 2024. During this meeting, Dr. Choi introduced the core business components of the TGE Group, i.e. the L’Officiel magazine and The Art Newspaper, and expressed interest in pursuing a potential business combination between TGE and Black Spade II, noting the successful combination of Black Spade Acquisition Co (“BSAQ”) and VinFast Auto Ltd. (“VinFast”) in 2023. Between September 11 and September 13, 2024, Mr. Tam discussed the potential transaction with TGE internally with Mr. Kester Ng, Co -CEOand CFO of Black Spade II, and Mr. Richard Taylor, Co -CEOand COO of Black Spade II. They evaluated TGE, as a potential target, based on the available information. On September 14, 2024, Mr. Tam met Dr. Choi again