VCI Global Limited 6-K Report: Major Stock Sale and Nasdaq Plans

Here are the key insights and important information extracted from the provided financial report section (Form 6-K) related to VCI Global Limited:

1. Report Details:

• Type: 6-K (Report of Foreign Private Issuer).
• Commission File Number: 001-41678.
• Date: Report is for the month of January 2025.
• Company Name: VCI Global Limited.
• Address: B03-C-8 Menara 3A, KL Eco City, No.3 Jalan Bangsar, 59200 Kuala Lumpur.

2. Transaction Overview:

• On December 30, 2024, VCI Global Limited entered into a Stock Sale and Business Separation Agreement with V Capital Consulting Group Limited (VCCG), V Capital Consulting Limited (VC Consulting), and V Capital Advisory Sdn. Bhd. (VC Advisory).
• The agreement involved the sale of 100% of the shares of VC Consulting and VC Advisory to VCCG.
• Sale Price: RM100 for VC Consulting and US$50,000 for VC Advisory, payable by wire transfer.

3. Closing Conditions:

• The sale was to be executed remotely on the agreement date with customary representations, warranties, and covenants included in the agreement.

4. Future Plans:

• On January 7, 2025, VCI Global announced the carve-out of VCCG for a potential listing on the Nasdaq Capital Market.
• The company will retain majority control of VCCG post-transaction.

5. Exhibits:

• The full text of the Stock Sale and Business Separation Agreement is filed as Exhibit 10.1.
• A press release dated January 7, 2025, announcing the carve-out is included as Exhibit 99.1.

6. Filing Information:

• The information contained in the press release (Exhibit 99.1) is furnished, not filed, for the purposes of the Securities Exchange Act of 1934.

This summary encapsulates the critical points from the financial report, focusing on the transaction details and future corporate actions.