Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 142

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 10
Chunk 142
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 entitled to, and will be exercising its right of compulsory acquisition under the Companies Act 1967 of Singapore.
Subsequent to the completion of the compulsory acquisition which is currently expected to take place on or around August 25, 2025, Ban
Leong will be officially delisted from the SGX-ST. Cash consideration of the Offer will be financed through a combination of an
approximately $38.7 million secured term loan facility provided by The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch
(the “ HSBC term loan facility”), and approximately $10.0 million cash on hand from the Company. $38.7 million secured
term loan facility provided by The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (the “ HSBC term loan facility”)
and approximately $10.0 million cash on hand from the Company. The HSBC term loan facility is secured by all assets of GCL Global Pte
Ltd, has a five-year term, bears a floating interest rate ranging between 2.5% and 7.5%, and requires quarterly repayments, with the final
installment due in July 2030..

D. Exchange Controls

There are no foreign exchange
controls or foreign exchange regulations under the currently applicable laws of the Cayman Islands.

E. Taxation

The following summary of the
material Cayman Islands and U. S. federal income tax consequences of ownership of our ordinary shares and Warrants to acquire our ordinary
shares, sometimes referred to collectively in the summary as our “securities,” is based upon laws and relevant interpretations
thereof in effect as of the date of this Report, all of which are subject to change. This summary does not deal with all possible tax
consequences relating to an investment in our securities, such as the tax consequences under state, local and other tax laws.

Cayman Islands Tax Considerations

The following summary contains
a description of certain Cayman Islands income tax consequences of the acquisition, ownership and disposition of our securities, but it
does not purport to be a comprehensive description of all the tax considerations that may be relevant to a decision to purchase our securities.
The summary is based upon the tax laws of Cayman Islands and regulations thereunder as of the date hereof, which are subject to change.
Prospective investors should consult their professional advisers on the possible tax consequences of buying, holding or selling any securities
under the laws of their country of citizenship, residence or domicile.

The following is a discussion
on