Company: GCL
Filing Date: 2025-09-04
Form Type: F-1
Source: 0001213900-25-084489
Chunk: 163

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-04
Form: F-1
Chunk 163
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 a director to fill a casual vacancy on the board or as an addition to the existing board. The Company directors are not automatically subject to a term of office and hold office until such time as their office is vacated or where they are removed from office by an ordinary resolution of shareholders or otherwise in accordance with the Company Charter. In addition, a director will cease to be a director if, among other things the director (i) becomes bankrupt or makes any arrangement or composition with his or her creditors: (ii) dies or is found to be or becomes of unsound mind within the scope of the Company Charter: (iii) resigns his or her office by notice in writing to the Company; (iv) without special leave of absence from the Company Board, is absent from board meetings for a continuous period of 6 months and the Company directors resolve that his or her office be vacated; (v) by notice in writing signed by not less than three-fourths of all the Company directors in number; or (vi) is removed from office pursuant to any other provision of the Company Charter. The officers of the Company are appointed by and serve at the discretion of the board of directors, and may be removed by our board of directors. Shareholder Suits In principle, the Company will normally be the proper plaintiff and as a general rule a derivative action may not be brought by a minority shareholder. However, based on English authorities, which would in all likelihood be of persuasive authority in the Cayman Islands, the Cayman Islands courts can be expected to follow and apply the common law principles (namely the rule in Foss v. Harbottle and the exceptions thereto) so that a non-controlling shareholder may be permitted to commence a class action against or derivative actions in the name of the company to challenge actions where:

| ● | a company acts or proposes to act 
 illegally or ultra vires;         |

| ● | the act complained of, although                                                             
 not ultra vires, could only be effected duly if authorized by more than the number of votes 
 which have actually been obtained; and                                                      |

| ● | those who control the company are 
 perpetrating a “fraud             
 on the minority.”                 |

A shareholder may have a direct right of action against us where the individual rights of that shareholder have been infringed or are about to be infringed. 105 Warrants The following summary is not complete and is subject to, and is qualified in its entirety by reference to, the provisions of the Warrant