Company: VCIG
Filing Date: 2025-09-25
Form Type: F-3
Source: 0001213900-25-091277
Chunk: 29

Company: VCI Global Ltd
Filing Date: 2025-09-25
Form: F-3
Chunk 29
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 which a company’s memorandum and articles of
association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the BVI
High Court to be contrary to public policy (e.g. for purporting to provide indemnification against the consequences of committing a crime).
An indemnity will be void and of no effect and will not apply to a person unless the person acted honestly and in good faith and in what
he believed to be in the best interests of the company and, in the case of criminal proceedings, the person had no reasonable cause to
believe that his conduct was unlawful. Our amended and restated memorandum and articles of association provides for the indemnification
of our directors for losses, damages, costs and expenses incurred in their capacities as such unless such losses or damages arise from
dishonesty or fraud of such directors. This standard of conduct is generally the same as permitted under the Delaware General Corporation
Law for a Delaware corporation. In addition, we have entered into indemnification agreements with our directors and executive officers
that provide such persons with additional indemnification beyond that provided in our post-offering amended and restated memorandum and
articles of association.

Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to our directors, officers or persons controlling us under the foregoing provisions, we have
been informed that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is
therefore unenforceable.

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Directors’ Fiduciary Duties.
Under Delaware corporate law, a director of a Delaware corporation has a fiduciary duty to the corporation and its shareholders. This
duty has two components: the duty of care and the duty of loyalty. The duty of care requires that a director act in good faith, with the
care that an ordinarily prudent person would exercise under similar circumstances. Under this duty, a director must inform himself of,
and disclose to shareholders, all material information reasonably available regarding a significant transaction. The duty of loyalty requires
that a director acts in a manner he reasonably believes to be in the best interests of the corporation. He must not use his corporate
position for personal gain or advantage. This duty prohibits self-dealing by a director and mandates that the best interest of the corporation
and its shareholders take precedence over any interest possessed by a director, officer or controlling shareholder and not shared by the
shareholders generally.