Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 30

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 4
Chunk 30
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the Company, without any deduction for or on account of any tax withholding, charges, or set-off, in accordance with the Company’s
written wiring instructions against delivery of the Sale Shares (the “ Sale”). The Agreement contains customary representations
and warranties and covenants that the respective parties made to each other as of the date of the Agreement or other specific dates. The
closing of the Sale and the transactions contemplated by this Agreement shall take place remotely by electronic exchange of signature
pages, on the date of the Agreement (the “ Closing Date”) subject to the satisfaction, or waiver, at or prior to the Closing
Date of the conditions set forth in the Agreement.

On April 23, 2025, we completed the disposal of
one of its subsidiaries Imej Jiwa Communications Sdn. Bhd. (the “ Subsidiary”) to its formal owner (the “ Former Owner”)
for nominal consideration (the “ Disposal”). The Company, the Subsidiary and the Former Owner did not enter into an agreement
in connection of the Disposal. The Disposl is not expected to have a material impact on the Company’s financial condition or results
of operations.

Reverse Stock Split

On November 5, 2024, we effectuated a 1 for 49
share consolidation of its authorized share capital, such that every 49 ordinary shares, no par value, in the authorized share capital
of the Company be consolidated into 1 ordinary share, no par value (the “ Reverse Split”). The Reverse Split was primarily
intended to increase the market price per share of the Company’s ordinary shares to regain compliance with the minimum bid price
required for continued listing on the Nasdaq Capital Market.

On April 3, 2025, we effectuated a 1-for-20 share
consolidation of its authorized share capital, such that every 20 ordinary shares, no par value, in the authorized share capital of the
Company be consolidated into 1 ordinary share, no par value (the “ Reverse Split”). The Reverse Split was primarily intended
to increase the market price per share of the Company’s ordinary shares to regain compliance with the minimum bid price required
for continued listing on the Nasdaq Capital Market.

Follow on Offerings

On January 11, 2024, the Company entered into
certain securities purchase agreements (collectively, the “ Purchase Agreement”) with certain institutional investors (the
“ Investors”) for a follow-on offering (the