Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 59

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 59
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 both long and short exposures. To the extent aggregate short exposure
exceeds the number of the Ordinary Shares available for purchase, investors with short exposure may have to pay a premium to repurchase
the Ordinary Shares for delivery to lenders. Those repurchases may in turn, dramatically increase the price of the Ordinary Shares. This
is often referred to as a “short squeeze.” A short squeeze could lead to volatile price movements in the Ordinary Shares
that are not directly correlated to the operating performance.

It is not expected that we will pay dividends in the foreseeable future.

It is expected that we will
retain most, if not all, of our available funds and any future earnings to fund the development and growth of our business. As a result,
it is not expected that we will pay any cash dividends in the foreseeable future.

Our board of directors has
complete discretion as to whether to distribute dividends. Even if the board of directors decides to declare and pay dividends, the timing,
amount and form of future dividends, if any, will depend on the future results of operations and cash flow, capital requirements and
surplus, the amount of distributions, if any, received from our subsidiaries, our financial condition, contractual restrictions and other
factors deemed relevant by the board of directors. There is no guarantee that our shares will appreciate in value or that the trading
price of the shares will not decline.

If securities and industry analysts do not publish research or publish inaccurate or unfavorable research or cease publishing research about us, the price and trading volume of our securities could decline significantly.

The trading market for our
Ordinary Shares and Warrants will depend in part on the research and reports that securities or industry analysts publish about us. Securities
and industry analysts do not currently, and may never, publish research on us. If no securities or industry analysts commence coverage
us, the trading price for the Ordinary Shares would likely be negatively impacted. In the event securities or industry analysts initiate
coverage, if one or more of the analysts who cover us downgrade our securities or publish inaccurate or unfavorable research about our
business, our share price would likely decline. If one or more of these analysts cease coverage or fail to publish reports on us, demand
for the Ordinary Shares could decrease, which might cause our share price and trading volume to decline.

We are a foreign private issuer within the meaning of the rules under the Exchange Act, and as such we are exempt from certain provisions applicable to domestic public companies in the United States.

As a foreign private issuer,
we are