Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 248

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 248
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 under
the Warrant shall be US$3,750,000, and shall first be used to repay all principal, interest and other amounts outstanding under the
Facility Agreement with the remainder, if any, for the Borrower’s working capital. On July 29, 2025, the Company and OCBC entered into Amendment No. 1 to the Warrant (the “ Amendment”)
to clarify their commercial understanding that none of the terms of the Warrant shall have any legal effect on the Borrower and/or the
Company unless and until the entire SGD 5,000,000has been disbursed to the Borrower by OCBC under the Facility Agreement; and that OCBC
will have no claims for penalties, damages and legal remedies of any kind against either the Company or the Borrower for non-performance
of any obligations under the Warrant. The Amendment also provides that, among other things, until the full amount ofSGD5,000,000is disbursed
by OCBC to the Borrower pursuant to the Facility Agreement, (i) the Warrant shall not be capable of exercise of any kind, and shall remain
un-exercisable; and (ii) OCBC will have no rights to Piggyback Registration (as defined in the Warrant). Under the Amendment, the Company
will have six months from the date the full amount ofSGD5,000,000is disbursed to file a registration statement for the public resale
of all of the Warrant Shares (as defined in the Warrant). As of the date of issuance of the
consolidated financial statements, no fund has been disbursed under the Facility Agreement.

F-58