Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 133

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 6
Chunk 133
---
 exercisable or exchangeable for ordinary shares
of PubCo, in each case, held by him immediately after the Closing Date (the “ Lock-up Shares”), (ii) enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any of the Lock-up Shares,
whether any such transaction is to be settled by delivery of such securities, in cash or otherwise or (iii) publicly announce any intention
to effect any transaction specified in clause (i) or (ii) (the actions specified in clauses (i)-(iii), collectively, “ Transfer”)
until the earlier of (1) 12 months commencing from the Closing Date and (2) subsequent to the Mergers, (x) the date on which the last
sale price of the ordinary shares of PubCo equals or exceeds $12.00 per ordinary shares of PubCo (as adjusted for share splits, share
consolidations, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading
days within any 30 trading day period commencing at least 150 days after the consummation of the Business Combination, or (y) the date
on which PubCo completes a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of PubCo’s
shareholders having the right to exchange their ordinary shares of PubCo for cash, securities or other property (the “ Lock-Up Period”).
These lock-up restrictions can be waived by the Company at any time.

Mr. Jacky Choo See Wee, our
Group Chairman of the Board and Ms. Catherine Choo See Ling, our Chief Operating Officer and director, holds 98% and 1% of Epicsoft Ventures
Ltd. (“ Epicsoft Ventures”), respectively. All 80,581,793ordinary shares held by Epicsoft Ventures are subject to the 12-month
Lock-Up Period pursuant to a lock-up agreement between the Company and Epicsoft Ventures dated February 13, 2025.

Tse Meng Ng is a director
of the Company and the sole member and manager of RF Dynamic LLC (“ RF Dynamic”). All 7,325,500 ordinary shares beneficially
owned by RF Dynamic are subject to the 12-month Lock-Up Period pursuant to a lock-up agreement between the Company and RF Dynamic dated
February 13, 2025.

C. Interests of Experts and Counsel