Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 224

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 224
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 of TGE (other than non -votingordinary shares) that is held by AMTD Digital into one Class B ordinary share of TGE (“TGE Class B Ordinary Share”); and •Each non -votingordinary share of TGE into one non -votingpreferred share of TGE (“TGE Preferred Share”). Pursuant to the Business Combination Agreement, immediately after the completion of the re -designationof shares and immediately prior to the Merger Effective Time, TGE will effect a share consolidation or subdivision such that: •Each TGE Class A Ordinary Share will be consolidated or divided into a number of TGE Class A Ordinary Shares equal to the Adjustment Factor (as defined below); •Each TGE Class B Ordinary Share will be consolidated or divided into a number of TGE Class B Ordinary Shares equal to the Adjustment Factor; and 134 •Each TGE Preferred Share will be consolidated or divided into a number of TGE Preferred Shares equal to the Adjustment Factor (as defined below) (such actions, collectively, the “Recapitalization”). The “Adjustment Factor” will be the number resulting from dividing the Per Share TGE Equity Value by $10.00. The “Per Share TGE Equity Value” will be obtained by dividing (a) the equity value of TGE (being $488,000,000) by (b) the aggregate number of ordinary shares of TGE issued and outstanding immediately prior to the Recapitalization. At the Merger Effective Time and as a result of the Merger: •Each Class B ordinary share of Black Spade II, par value $0.0001 per share (“BSII Class B Ordinary Shares”) that is issued and outstanding immediately prior to the Merger Effective Time will be automatically cancelled in exchange for the right to receive one TGE Class A Ordinary Share; •Each Class A ordinary share of Black Spade II, par value $0.0001 per share (“BSII Class A Ordinary Share”) that is issued and outstanding immediately prior to the Merger Effective Time (other than such BSII Class A Ordinary Shares that are treasury shares, validly redeemed shares or BSII Dissenting Shares (as defined below)) will be cancelled in exchange for the right to receive one TGE Class A Ordinary Share; •Each BSII Class A Ordinary Share that is held as a treasury share will be cancelled and cease to exist; •Each issued and outstanding BSII Class A Ordinary Share that is validly redeemed will be cancelled in exchange for the right to be