Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 170

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 170
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 Delaware limited liability company (the “ Sponsor”). As further discussed below
and in Note 3 on February 13, 2025 (the “ Closing Date”), the Company consummated the
business combination transactions (the “ Business Combination”) contemplated by the Merger Agreement.

GCL Global was incorporated
and registered as an exempted Company with limited liability on September 8, 2023, under the laws of the Cayman Islands. GCL Global
is a holding Company and has no substantive operations other than holding all of the outstanding equities of its directly and indirectly
owned subsidiaries through various recapitalizations.

The Company, through its
subsidiaries in Singapore, Malaysia, Hong Kong, China, Brazil, the United Kingdom, and Dubai operates its business infoursegments, 1)
distribution of console games, 2) game publishing, 3) media advertising service, and 4) others.

- Reorganization under GCL Global Pte. Ltd
(“ GCL Global SG”)

GCL Global SG was incorporated
on July 26, 2021, under the laws of Singapore. GCL Global SG is a holding Company and has no substantive operations other than holding
all of the outstanding equities of Epic SG, 4Divinity SG, 2Game, and Starlight.

On June 30, 2023, GCL
Global SG completed the acquisition of100% of the equity interests in Titan Digital Media Pte Ltd (“ Titan Digital”), which
was held under common control with Grand Centrex Limited (“ GCL BVI”). The transaction was executed with a consideration of
SGD 10. GCL Global SG and Titan Digital are under the effective control of the same group of shareholders.

On July 18, 2023, GCL
Global SG completed the acquisition of100% of the equity interests in Epicsoft Hong Kong Limited (“ Epic HK”), which was held
under common control with GCL BVI. The transaction was executed with a consideration of HKD 10. GCL Global SG and Epic HK are effectively
controlled by the same shareholder.

- Reorganization under GCL Global

GCL BVI was incorporated
on November 16, 2018, under the laws of British Virgin Island (“ BVI”).

GCL BVI is a holding Company
and has no substantive operations other than holding all of the outstanding equity of Epic MY after reorganization under GCL Global SG.

On February 13, 2024,
G