Company: VCIG
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001213900-25-104595
Chunk: 10

Company: VCI Global Ltd
Filing Date: 2025-10-31
Form: 424B5
Chunk 10
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 trading symbol “VCIG” with the new CUSIP number G98218111 (the
“Reverse Stock Split”). The Reverse Stock Split is being implemented to regain compliance with Nasdaq’s minimum bid
price requirement and to strategically position VCIG for a potential landmark institutional transaction. No fractional shares were issued
in connection with the Reverse Stock Split. Any amount of fractional shares were rounded up to the next nearest number at the participant
level.

Departure of Certain Director

On August 1, 2025, Ms. Liew Yu Ying, a member
of the board of directors (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 Exchange Act.

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 and Issuances of Ordinary Shares

Convertible Note

On August 13, 2025, the Company entered into a
securities purchase agreement with Alumni Capital LP (“Alumni”), a Delaware limited partnership, 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