Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 92

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 6
Chunk 92
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 Nominating and Corporate
Governance Audit Committee Charter, include, but are not limited to:

  identifying, reviewing and evaluating candidates to serve on our Board consistent with criteria approved by our Board;  

  evaluating director performance on our Board and applicable committees of our Board and determining whether continued service on our Board is appropriate;  

  evaluating nominations by stockholders of candidates for election to our Board; and  

  corporate governance matters.  

Foreign Private Issuer Status

As a foreign private issuer, the Company will
be exempt from the rules under the Exchange Act, and its officers, directors and principal shareholders will be exempt from the reporting
and short-swing profit recovery provisions contained in Section 16 of the Exchange Act. In addition, the Company will also be permitted
to follow corporate governance practices in accordance with BVI law in lieu of most of the corporate governance rules set forth by Nasdaq,
other than the Nasdaq’s requirements that it must (1) have an audit committee that meets the requirements of Exchange Act Rule 10A-3
and (2) provide Nasdaq prompt notification from its chief executive officer of non-compliance with applicable provisions of the corporate
governance rules. Notably, the Company will be permitted to follow corporate governance practices in accordance with BVI law in lieu of
Nasdaq’s requirements concerning (i) a majority independent board, (ii) the nominating and corporate governance committee,
(iii) the compensation committee, and (iii) the three-director minimum for the audit committee. The Company has elected to follow
the corporate governance rules of Nasdaq at this time. Notwithstanding the foregoing, we are not required to and, in reliance on home
country practice, we do not intend to, comply with certain Nasdaq rules regarding shareholder approval for certain issuances of securities
under Nasdaq Rule 5635. In accordance with the provisions of our amended and restated memorandum and articles of association, our board
of directors is authorized to issue securities, including ordinary shares, preferred shares, warrants and convertible notes without shareholder
approval.

Involvement in Certain Legal Proceedings

Except as disclosed below, to our knowledge, none
of our current directors or executive officers has, during the past ten (10) years:

  been convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);  

  had any bankruptcy petition filed by or against the business or property of the person, or of any partnership, corporation or business association