As of 6.00 p.m. (Singapore time) on June 12, 2025, GCL's indirect subsidiary, Epicsoft Asia Pte. Ltd. (the "Offeror") owns, controls, or has agreed to acquire an aggregate of 100,167,499 Shares representing approximately 92.92% of the total number of issued Shares of Ban Leong Technologies Limited.
SINGAPORE, June 12, 2025 (GLOBE NEWSWIRE) -- GCL Global Holdings Ltd (NASDAQ: GCL) ("GCL"), a leading provider of games and entertainment and the indirect parent company of the Offeror, today announced that the Offeror has successfully garnered acceptances exceeding 90% of the total number of issued Shares (excluding Shares held in treasury) (the "Announcement").
As of 6.00 p.m. (Singapore time) on June 12, 2025, GCL's indirect subsidiary, the Offeror owns, controls, or has agreed to acquire an aggregate of 100,167,499 Shares representing approximately 92.92% of the total number of issued Shares of Ban Leong Technologies Limited ("Ban Leong").
Consequently, the Offeror is entitled to, and intends to, exercise its right to compulsorily acquire all the Offer Shares not acquired under the Offer. The Offeror will despatch to the Shareholders who have not accepted the Offer ("Dissenting Shareholders") the relevant documentation in relation to the exercise of its right of compulsory acquisition, together with the prescribed notice under the Companies Act 1967 of Singapore, in due course. Subsequent to such compulsory acquisition, the Offeror will proceed to delist Ban Leong from the Singapore Stock Exchange.
LOOKING AHEAD
As stated in the Offer Document dated May 21, 2025, the acquisition is expected to create potential synergies through economies of scale and improved operational efficiencies. It is also expected to enable new revenue streams, introduce additional sales channels, and enhance both companies' brand positioning within an integrated gaming ecosystem.
Following the completion of the Offer, GCL will explore opportunities to align with Ban Leong's marketing and procurement strategies in the consumer electronics and gaming hardware sectors. This may include initiatives such as leveraging Ban Leong's industry relationships, exploring B2C sales opportunities for gaming peripherals and PC components that complement GCL's gaming content, and evaluating the feasibility of introducing branded gaming devices pre-installed with GCL titles. GCL and Ban Leong will also assess how the Group's existing sales and distribution infrastructure across Asia can support the broader commercialisation of GCL's gaming portfolio. Notwithstanding the foregoing, the Offeror will undertake a comprehensive review of Ban Leong's businesses and fixed assets to determine the optimal strategy for Ban Leong, post-closing of the Offer.
This press release should be read in conjunction with the full text of the announcement filed by the Company on a Form 6-K, on June 12, 2025, available on the Securities and Exchange Commission ("SEC") website at www.sec.gov.
No Offer or Solicitation
This news release is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.
