Company: GCL
Filing Date: 2025-04-30
Form Type: 424B3
Source: 0001213900-25-037646
Chunk: 4

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-30
Form: 424B3
Chunk 4
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 by the Company in respect of the Shares on or after the Offer Announcement Date to
a Shareholder who validly accepts or has validly accepted the Offer, the Offer Price payable to such accepting Shareholders shall be reduced
by an amount which is equal to the amount of such Distribution, depending on when the settlement date in respect of the Offer Shares tendered
in acceptance of the Offer by such accepting Shareholders falls, as follows:

| (i) | if such settlement date falls on or before the record date for the determination of entitlements to the                                  
 Distribution (the “Record Date”) and the Offeror is registered as the holder of such Offer Shares as at the Record                       
 Date, the Offer Price shall remain unadjusted for each such Offer Share, as the Offeror will receive the Distribution in respect of such 
 Offer Share from the Company; or                                                                                                         |

| (ii) | if such settlement date falls after the Record Date or if such settlement date falls on or before the                                    
 Record Date but the Offeror is not registered as the holder of such Offer Shares as at the Record Date, the Offer Price for each Offer   
 Share shall be reduced by an amount which is equal to the amount of the Distribution in respect of each Offer Share, as the Offeror will 
 not receive the Distribution in respect of such Offer Share from the Company.                                                            |

| (e) | Minimum Acceptance Condition |

The Offer will be conditional upon
the Offeror having received, by the close of the Offer, valid acceptances (which have not been withdrawn) in respect of such number of
Offer Shares which, when taken together with the Shares owned, controlled, acquired or agreed to be acquired by the Offeror and parties
acting or deemed to be acting in concert with it, will result in the Offeror and parties acting or deemed to be acting in concert with
it holding such number of Shares carrying more than 50% of the voting rights attributable to the issued share capital of the Company (excluding
any Shares held in treasury) as at the close of the Offer (the “Minimum Acceptance Condition”).

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Accordingly, the Offer will not become
or be capable of being declared unconditional as to acceptances until the close of the Offer, unless at any time prior to the close of
the Offer, the Offeror has received valid acceptances in respect of such number of Offer Shares which, when taken together with the Shares
owned, controlled or agreed to be acquired by