Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 54

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 54
---
 case.

<div align='center'>26</div>

Although as a foreign private issuer, PubCo is exempt from certain corporate governance standards applicable to US domestic issuers, if PubCo cannot continue to satisfy the listing requirements and other rules of Nasdaq, PubCo’s securities may be delisted, which could negatively affect the price of its securities and your ability to sell them.

PubCo’s securities are
listed on Nasdaq in connection with the Business Combination. PubCo cannot assure you that its securities will continue to be listed on
Nasdaq.

In addition, in order to maintain
its listing on Nasdaq, PubCo is required to comply with certain rules of Nasdaq, including those regarding minimum shareholders’
equity, minimum share price, minimum market value of publicly held shares, and various additional requirements. Even if PubCo initially
meets the listing requirements and other applicable rules of Nasdaq, PubCo may not be able to continue to satisfy these requirements and
applicable rules. If PubCo is unable to satisfy Nasdaq criteria for maintaining its listing, its securities could be subject to delisting.

If Nasdaq subsequently delists
its securities from trading, PubCo could face significant consequences, including:

| ● | a limited availability for market quotations for its securities; |

| ● | reduced liquidity with respect to its securities; |

| ● | a determination that its ordinary shares is a “penny stock,” which will require brokers trading                                        
 in PubCo Ordinary Shares to adhere to more stringent rules and possibly result in a reduced level of trading activity in the secondary 
 trading market for PubCo Ordinary Shares;                                                                                              |

| ● | limited amount of news and analyst coverage; and |

| ● | a decreased ability to issue additional securities or obtain additional financing in the future. |

You may face difficulties in protecting your interests, and your ability to protect your rights through U.S. courts may be limited, because PubCo is incorporated under Cayman Islands law.

PubCo is an exempted company
incorporated under the laws of the Cayman Islands. PubCo’s corporate affairs are governed by PubCo’s Amended and Restated
Memorandum and Articles of Association, the Companies Act (As Revised) of the Cayman Islands and the common law of the Cayman Islands.
The rights of shareholders to take action against PubCo’s directors, actions by PubCo’s minority shareholders and the fiduciary
duties of PubCo’s directors to PubCo under Cayman Islands law are to a