Company: TGE
Filing Date: 2025-05-06
Form Type: F-4/A
Source: 0001213900-25-040058
Chunk: 72

Company: Generation Essentials Group
Filing Date: 2025-05-06
Form: F-4/A
Chunk 72
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 -ownedsubsidiary of The Generation Essentials Group. The parties will hold the Closing on the date which is three business days following the satisfaction or waiver of the conditions set forth in the Business Combination Agreement, unless Black Spade II and The Generation Essentials Group agree to another time or unless the Business Combination Agreement is terminated pursuant to its terms. 32 Conversion of Securities Pursuant to the Business Combination Agreement, among other things, prior to the effective time of the Merger (the “Merger Effective Time”), The Generation Essentials Group will re -designate: •Each ordinary share of The Generation Essentials Group (other than non -votingordinary shares) that is not held by AMTD Digital Inc. (“AMTD Digital”) into one Class A ordinary share of The Generation Essentials Group (“TGE Class A Ordinary Share”); •Each ordinary share of The Generation Essentials Group (other than non -votingordinary shares) that is held by AMTD Digital into one Class B ordinary share of The Generation Essentials Group (“TGE Class B Ordinary Share”); and •Each non -votingordinary share of The Generation Essentials Group into one non -votingpreferred share of The Generation Essentials Group (“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, The Generation Essentials Group 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 •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 The Generation Essentials Group (being $488,000,000) by (b) the aggregate number of ordinary shares of The Generation Essentials Group 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 $0.000