Company: VCIG
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001213900-25-075843
Chunk: 76

Company: VCI Global Ltd
Filing Date: 2025-08-13
Form: 424B5
Chunk 76
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 corporation
has specifically elected not to be governed by such statute by amendment to its certificate of incorporation, it is prohibited from engaging
in certain business combinations with an “interested shareholder” for three years following the date that such person becomes
an interested shareholder. An interested shareholder generally is a person or a group who or which owns or owned 15% or more of the target’s
outstanding voting share within the past three years. This has the effect of limiting the ability of a potential acquirer to make a two-tiered
bid for the target in which all shareholders would not be treated equally. The statute does not apply if, among other things, prior to
the date in which such shareholder becomes an interested shareholder, the board of directors approves either the business combination
or the transaction which resulted in the person becoming an interested shareholder. This encourages any potential acquirer of a Delaware
corporation to negotiate the terms of any acquisition transaction with the target’s board of directors.

British Virgin Islands law has no comparable statute.
As a result, we are not afforded the same statutory protections in the British Virgin Islands as we would be offered by the Delaware business
combination statute. However, although British Virgin Islands law does not regulate transactions between a company and its significant
shareholders, it does provide that such transactions must be entered into bona fide in the best interests of the company and not with
the effect of constituting a fraud on the minority shareholders. See also “Shareholders’ Suits” above. We have adopted
a code of business conduct and ethics which requires employees to fully disclose any situations that could reasonably be expected to give
rise to a conflict of interest, and sets forth relevant restrictions and procedures when a conflict of interest arises to ensure the best
interest of the Company.

Dissolution; Winding up. Under the
Delaware General Corporation Law, unless the board of directors approves the proposal to dissolve, dissolution must be approved by shareholders
holding 100% of the total voting power of the corporation. Only if the dissolution is initiated by the board of directors may it be approved
by a simple majority of the corporation’s outstanding shares. Delaware law allows a Delaware corporation to include in its certificate
of incorporation a supermajority voting requirement in connection with dissolutions initiated by the board.

Under BVI law, the liquidation of a company may
be a voluntary solvent liquidation or an insolvent liquidation under the Insolvency Act. Where a company has been struck off the Register
of Companies under the