Company: GCL
Filing Date: 2025-04-30
Form Type: 424B3
Source: 0001213900-25-037646
Chunk: 14

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-30
Form: 424B3
Chunk 14
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| VWAP of the Shares as traded on the SGX-ST for the 12-month period up to and including the Last Trading Day                            |     |                         | 0.343 |     |                                         | 75.5 | % |

Notes:

| (1) | The figures set out in the table above are based on data extracted                                                                    
 from Bloomberg L.P. and are calculated by using total value of Shares over the total volume of Shares traded for the relevant period. 
 The figures are rounded to the nearest three decimal places.                                                                          |

| (2) | Figures rounded to the nearest one decimal place. |

<div align='center'>12</div>

| 10. | DISCLOSURE OF SHAREHOLDINGS, DEALINGS AND OTHER ARRANGEMENTS |

| 10.1 | Shareholdings and Dealings in Relevant Securities |

As at the Offer Announcement Date,
based on the latest information available to the Offeror and save as set out in this Offer Announcement, none of (i) the Offeror; (ii)
the directors of the Offeror; (iii) GGPL; and (iv) the directors of GGPL (each, a “Relevant Person” and collectively,
the “Relevant Persons”):

| 10.1.1 | owns, controls or has agreed to acquire any (a) Shares, (b) securities                                                                
 which carry voting rights in the Company, or (c) convertible securities, warrants, options or derivatives in respect of the Shares or 
 securities which carry voting rights in the Company (collectively, the “Relevant Securities”);                                        
 and                                                                                                                                   |

| 10.2 | Other Arrangements |

In connection with the Offer, the
Offeror has entered into a facility agreement with The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (“HSBC”)
as lender. Under the facility agreement, HSBC has agreed to make available to the Offeror a Singapore dollar term loan facility which
shall be applied by the Offeror towards payment of the Offer Shares to be acquired by the Offeror pursuant to the Offer (the “Facility”).

There will be certain security arrangements
entered into in connection with the Facility made available by HSBC, including: (a) a charge over all of the shares of the Offeror in
favour of HSBC; and (b) a charge over all of the Shares acquired by the Offeror pursuant to the Offer, in favour of HSBC.

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