Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 137

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 137
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 and paid an aggregate of approximately $50,000 in lease payments for such vehicle during the fiscal
year of 2025.

Our full-time employees of
the Company are entitled to the government mandated defined contribution plan. The Company is required to accrue and pay for these benefits
based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant
government regulations, and make cash contributions to the government mandated defined contribution plan.

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C. Board Practices

We are a foreign private issuer within the meaning of the rules under
the Exchange Act and, as such, we are permitted to follow the corporate governance practices of its home country, the Cayman Islands,
in lieu of the corporate governance standards of Nasdaq applicable to U.S. domestic companies. For example, we are not required to have
a majority of the board consisting of independent directors nor have a compensation committee or a nominating and corporate governance
committee consisting entirely of independent directors. We may elect to follow home country’s corporate governance practices as
long as we remain a foreign private issuer. As a result, our shareholders may not have the same protection afforded to shareholders of
U.S. domestic companies that are subject to Nasdaq corporate governance requirements. As a foreign private issuer, we are also subject
to reduced disclosure requirements and are exempt from certain provisions of the U.S. securities rules and regulations applicable to U.S.
domestic issuers such as the rules regulating solicitation of proxies and certain insider reporting and short-swing profit rules. For
instance, we are exempt from the requirement to obtain shareholder approval for certain dilutive events, including a transaction other
than a public offering involving the sale of 20% or more of the issuer’s ordinary shares outstanding prior to the transaction for
less than the greater of book or market value of the shares, or the issuance of ordinary shares issuable upon conversion of the convertible
notes.

We are a “controlled
company” as defined under the Nasdaq rules, because Mr. Jacky Choo See Wee, our Group Chairman is able to exercise approximately
63.8% of the aggregate voting power of our total issued and outstanding shares. Under the Nasdaq rules, a “controlled company”
may elect not to comply with certain corporate governance requirements. Accordingly, we have elected to avail itself of the exemptions
available to it under Rule 5615(a)(7)(B) of the Nasdaq rules by foregoing (i) the requirement