Company: VCIG
Filing Date: 2025-09-25
Form Type: F-3
Source: 0001213900-25-091277
Chunk: 12

Company: VCI Global Ltd
Filing Date: 2025-09-25
Form: F-3
Chunk 12
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 (the “Board”) of the Company, tendered her resignation as an independent director of the Board,
effective August 1, 2025. Ms. Liew Yu Ying’s resignation was not a result of any disagreement with the Company on any matter related
to the operations, policies, finance, accounting or practices of the Company.

Appointment and Redesignation of Directors

On July 7, 2025, the Board appointed Mr. Lee Tze
Wee as an independent director, and a member of the Audit Committee, Nominating & Corporate Governance Committee, and Compensation
Committee. The Board has determined that Mr. Lee Tze Wee meets the independent director’s standard under Nasdaq listing standards
and under Rule 10-A-3(b)(1) of the Securities Exchange Act of 1934, as amended.

On July 7, 2025, the Board designated one of its
independent directors, Mr. Alex Chua Siong Kiat as an executive director of the Board.

Acquisition of QuantGold Data Platform

On June 24, 2025, the Company acquired 20% equity
stake in QuantGold Data Platform (“QuantGold”), a sovereign-grade AI infrastructure designed to enable computation on sensitive
datasets without compromising data ownership or privacy. As part of the consideration given to QuantGold in the acquisition, the Company
issued 11,904,762 ordinary shares, no par value per share, of the Company to QuantGold.

Recent Offerings

Convertible Note Offering with Alumni

On August 13, 2025, the Company entered into a
Securities Purchase Agreement with Alumni Capital LP (“Alumni”), a Delaware limited partnership, (“Securities Purchase
Agreement”), pursuant to which Alumni could purchase convertible notes (“Convertible Notes”) from the Company, in multiple
tranches, having an aggregate principal amount of up to $61,200,000. The Convertible Notes will be issued with approximately 16.67% original
issue discount for a maximum amount of gross proceeds of $51,000,000. For each tranche of Convertible Notes issued, Alumni will be issued
warrants (the “Alumni Warrants”) to purchase the Company’s ordinary shares in an amount equal to 15% of the purchase
price of such tranche of Convertible Notes.

A $3,000,000 Convertible Note and Alumni Warrant
to acquire up to $375,000 of the Company’s ordinary shares were issued on August