Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 56

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 56
---
 Restated Memorandum and Articles
of Association to determine whether or not, and under what conditions, its corporate records may be inspected by its shareholders, but
are not obliged to make them available to its shareholders. This may make it more difficult for you to obtain the information needed to
establish any facts necessary for a shareholder motion or to solicit proxies from other shareholders in connection with a proxy contest.

As a result of all of the above,
PubCo’s public shareholders may have more difficulty in protecting their interests in the face of actions taken by PubCo’s
management, members of the board of directors or controlling shareholders than they would as public shareholders of a company incorporated
in the United States.

Cayman Islands companies may
not have standing to initiate a derivative action in a federal court of the United States. As a result, your ability to protect your interests
if you are harmed in a manner that would otherwise enable you to sue in a United States federal court may be limited to direct shareholder
lawsuits.

As a “controlled company” under the Nasdaq rules, PubCo may choose to exempt itself from certain corporate governance requirements that could have an adverse effect on our public shareholders.

Mr. Jacky Choo See Wee,
our Group Chairman, holds a majority of the voting power of PubCo. Accordingly, PubCo is a “controlled company” within the
meaning of Nasdaq Listing Rule 5615. PubCo therefore, is eligible to utilize certain exemptions from the corporate governance requirements
of the Nasdaq Stock Market. PubCo’s status as a controlled company could cause its securities to look less attractive to certain
investors or otherwise harm the trading price.

As a controlled company, PubCo
is qualified for, and our board of directors, the composition of which may be controlled by Mr. Choo, may rely upon, exemptions from
several of Nasdaq’s corporate governance requirements, including requirements that:

| ● | a majority of the board of directors consist of independent directors; |

| ● | compensation of officers, including that of the CEO, be determined or recommended to the board of directors              
 by a majority of its independent directors or by a compensation committee comprised solely of independent directors; and |

| ● | director nominees be selected or recommended to the board of directors by a majority of its independent 
 directors or by a nominating committee that is composed entirely of independent directors.              |

Accordingly, to the extent
that we may choose to rely on one or more of these exemptions, Public Shareholders