Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 39

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 39
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 standing to initiate a derivative action in a federal court of the United States. As a result, your ability to protect your
interests if you are harmed in a manner that would otherwise enable you to sue in a United States federal court may be limited to direct
shareholder lawsuits.

As a “controlled company” under the Nasdaq rules, GCL may choose to exempt itself from certain corporate governance requirements that could have an adverse effect on our public shareholders.

Mr. Jacky Choo See Wee, our
Group Chairman, holds a majority of the voting power of GCL. Accordingly, GCL is a “controlled company” within the meaning
of Nasdaq Listing Rule 5615. GCL therefore, is eligible to utilize certain exemptions from the corporate governance requirements of the
Nasdaq Stock Market. GCL’s status as a controlled company could cause its securities to look less attractive to certain investors
or otherwise harm the trading price.

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As a controlled company,
GCL is qualified for, and our board of directors, the composition of which may be controlled by Mr. Choo, may rely upon, exemptions from
several of Nasdaq’s corporate governance requirements, including requirements that:

| ● | a majority of the board of directors consist of independent directors; |

| ● | compensation of officers, including that of the CEO, be determined or recommended to the board of directors by a majority of its independent directors or by a compensation committee comprised solely of independent directors; and |

| ● | director nominees be selected or recommended to the board of directors by a majority of its independent directors or by a nominating committee that is composed entirely of independent directors. |

Accordingly, to the extent
that we may choose to rely on one or more of these exemptions, Public Shareholders would not be afforded the same protections afforded
to the shareholders of other Nasdaq-listed companies that are subject to these corporate governance requirements.

GCL is deemed to be an “emerging growth company” and, as a result of the reduced disclosure and governance requirements applicable to emerging growth companies, GCL Ordinary Shares may be less attractive to investors.

GCL is deemed to be an “emerging
growth company” as defined in Section 2(a)(19) of the Securities Act, as modified by the JOBS Act, and it intends to take advantage
of some of the exemptions from reporting requirements that are available to emerging growth companies, including not being required to
comply with the auditor att