Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 53

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 53
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 would be required to comply fully with the reporting requirements of the Exchange Act applicable to U.S. domestic issuers, and it would incur significant additional legal, accounting, and other expenses that it would not incur as a foreign private issuer.

As a foreign private issuer,
PubCo will be exempt from the rules under the Exchange Act prescribing the furnishing and content of proxy statements, and its officers,
directors, and principal shareholders will be exempt from the reporting and short-swing profit recovery provisions contained in Section 16
of the Exchange Act. In addition, it will not be required under the Exchange Act to file periodic reports and financial statements with
the SEC as frequently or as promptly as United States domestic issuers, and it will not be required to disclose in its periodic reports
all of the information that United States domestic issuers are required to disclose. If it ceases to qualify as a foreign private issuer
in the future, it would incur significant additional expenses that could have a material adverse effect on its results of operations.

Because PubCo is a foreign private issuer and is exempt from certain Nasdaq corporate governance standards applicable to U.S. issuers, you will have less protection than you would have if it were a domestic issuer.

PubCo’s status as a foreign
private issuer exempts it from compliance with certain Nasdaq corporate governance requirements if it instead complies with the statutory
requirements applicable to a Cayman Islands exempted company. The statutory requirements of PubCo’s home country of Cayman Islands
do not strictly require a majority of its board to consist of independent directors. Thus, although a director must act in the best interests
of PubCo, it is possible that fewer board members will be exercising independent judgment and the level of board oversight of the management
the company may decrease as a result. In addition, the Nasdaq Listing Rules also require U.S. domestic issuers to have an independent
compensation committee with a minimum of two members, a nominating committee, and an independent audit committee with a minimum of three
members. PubCo, as a foreign private issuer, with the exception of needing an independent audit committee composed of at least three members,
is not subject to these requirements. The Nasdaq Listing Rules may also require shareholder approval for certain corporate matters that
PubCo’s home country’s rules do not. Following Cayman Islands governance practices, as opposed to complying with the requirements
applicable to a U.S. company listed on Nasdaq, may provide less protection to you than would otherwise be the