Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 134

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 19
Chunk 134
---
 into a reorganization agreement pursuant to which Mr. Lim transferred his shares in Herlin
and BNL to Elec in consideration of the Company allotting and issuing 1 Share to Mr. Lim’s nominee BVI Co, XJL International Ltd
credited as fully paid.

Following
such allotment and issue, the Company was held by Mr. Lim’s nominee BVI Co, XJL International Ltd, Beyond Merchant Limited, KeyStone
Builders Group Limited, Kingkey Holdings (International) Limited, Canningale Investments Limited and SwiftBuild Solutions Group Limited,
Ms. Cheng, Mr. Chi and Mr. Choo as to672,000,49,000,49,000,45,000,45,000,49,000,27,000,30,000and34,000shares respectively, representing approximately67.20%,4.90%,4.90%,4.50%,4.50%,4.90%,2.70%,3% and3.40% of the
issued share capital of the Company.

On
May 27, 2025, for purposes of recapitalization in anticipation of the initial public offering, the Company amended its memorandum of
association to effect a 1:40 forward share split and changed the authorized share capital to USD500,000divided into20,000,000,000ordinary shares with a par value of USD0.000025each. 4,468,800 325,850 325,850 299,250 299,250 325,850 179,550 199,500 226,100 22,411,200 1,634,150 1,634,150 1,500,750 1,500,750 1,634,150 900,450 1,000,500 1,133,900

The
Reorganization was completed on March 19, 2025

There
have been no significant changes in the nature of these
activities during the financial years ended April 30, 2023, 2024 and 2025.

MAGNITUDE
INTERNATIONAL LTD AND ITS SUBSIDIARIES

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

2. Material accounting policy information

  2.1      Basis           

The
consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“ IFRS”)
as issued by the International Accounting Standards Board under the