Company: GRRR
Filing Date: 2025-07-02
Form Type: 424B5
Source: 0001213900-25-060827
Chunk: 63

Company: Gorilla Technology Group Inc.
Filing Date: 2025-07-02
Form: 424B5
Chunk 63
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 or any successor corporation, in
their capacity as such, shall have any individual liability for any of our obligations, covenants or agreements under the debt securities
or the indenture.

Governing Law

The indenture and the debt
securities will be governed by, and construed in accordance with, the laws of the State of New York.

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DESCRIPTION OF DEPOSITARY SHARES</div>

The following description
of the depositary shares does not purport to be complete and is subject to and qualified in its entirety by the relevant deposit agreement
and the depositary receipts with respect to the depositary shares relating to any particular series of preference shares that our Board
may designate. You should read these documents as they, and not this description, will define your rights as a holder of depositary shares.
Forms of these documents will be filed with the SEC in connection with the offering of depositary shares.

General

If we elect to offer fractional
interests in preference shares, we will provide for the issuance by a depositary to the public of receipts for depositary shares. Each
depositary share will represent fractional interests of preference shares. We will deposit the preference shares underlying the depositary
shares under a deposit agreement between us and a bank or trust company selected by us. The bank or trust company must have its principal
office in the United States and a combined capital and surplus of at least $50 million. The depositary receipts will evidence the
depositary shares issued under the deposit agreement.

The deposit agreement will
contain terms applicable to the holders of depositary shares in addition to the terms stated in the depositary receipts. Each owner of
depositary shares will be entitled to all the rights and preferences of the preference shares underlying the depositary shares in proportion
to the applicable fractional interest in the underlying preference shares. The depositary will issue the depositary receipts to individuals
purchasing the fractional interests in shares of the related preference shares according to the terms of the offering described in a prospectus
supplement.

Dividends and Other Distributions

The depositary will distribute
all cash dividends or other cash distributions received for the preference shares to the entitled record holders of depositary shares
in proportion to the number of depositary shares that the holder owns on the relevant record date. The depositary will distribute only
an amount that can be distributed without attributing to any holder of depositary shares a fraction of one cent. The depositary will add
the undistributed