Company: GCL
Filing Date: 2025-04-30
Form Type: 424B3
Source: 0001213900-25-037646
Chunk: 12

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-30
Form: 424B3
Chunk 12
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 issued Shares (excluding treasury shares) held in public hands falls below
10 per cent., Ban Leong must, as soon as practicable, announce that fact and the SGX-ST may suspend trading of all the listed securities
of Ban Leong on the SGX-ST. Rule 724(2) of the Listing Manual further provides that the SGX-ST may allow Ban Leong a period of three months,
or such longer period as the SGX-ST may agree, for the percentage of the total number of issued Shares (excluding treasury shares) held
by members of the public to be raised to at least 10 per cent., failing which Ban Leong may be removed from the Official List of the SGX-ST.

The Offeror intends to seek a delisting of Ban Leong from the SGX-ST if the Free Float Requirement is not met. The Offeror does not intend to support any action or take any steps to maintain the listing status of Ban Leong in the event the Free Float Requirement is not met and the trading of the Shares on the SGX-ST is suspended pursuant to Rule 724, 1105 or 1303(1) of the Listing Manual. In addition, the Offeror reserves the right to seek a voluntary delisting of Ban Leong from the SGX-ST pursuant to Rules 1307 and 1309 of the Listing Manual.

| 8.2 | Compulsory Acquisition |

Pursuant to Section 215(1) of the
Companies Act 1967 of Singapore (“Companies Act”), if the Offeror receives valid acceptances pursuant to the Offer
or acquires Shares from the date of despatch of the Offer Document otherwise than through valid acceptances of the Offer, in respect of
not less than 90 per cent. of the total number of issued Shares (excluding treasury shares and those already held by the Offeror and its
related corporations (or their respective nominees) or any person or body corporate falling within the meaning of Section 215(9A) of the
Companies Act as at the date of despatch of the Offer Document), the Offeror will be entitled to exercise its right to compulsorily acquire,
at the Offer Price, all Offer Shares held by Shareholders who have not accepted the Offer (“Dissenting Shareholders”).
The Offeror, if so entitled, intends to exercise its rights of compulsory acquisition under Section 215(1) of the Companies Act.

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In addition, pursuant