Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 115

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 10
Chunk 115
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) taxation considerations; (f) interim dividend paid, if any; (g) capital requirement and expenditure plans; (h) interests of shareholders;
(i) statutory and regulatory restrictions; (j) any restrictions on payment of dividends; and (k) any other factors that our Board may
consider relevant. The payment of dividends, in certain circumstances is also subject to the approval of our Shareholders, the Companies
Act and our amended and restated memorandum and articles of association as well as any other applicable laws. Currently, we do not have
any predetermined dividend distribution ratio.

Under
Cayman Islands law, a Cayman Islands company may pay a dividend out of either profit, retained earnings, or share premium account, provided
that in no circumstances may a dividend be paid if this would result in the company being unable to pay its debts as they fall due in
the ordinary course of business. If our Board decides to pay dividends, the form, frequency and amount will depend upon our future operations
and earnings, capital requirements and surplus, general financial condition, contractual restrictions and other factors that the Board
may deem relevant. In addition, we are a holding company and depend on the receipt of dividends and other distributions from our subsidiaries
to pay dividends on our Ordinary Shares.

Even
if our Board decides to pay dividends, the form, frequency and amount will depend upon our future operations and earnings, capital requirements
and surplus, general financial condition, contractual restrictions and other factors that the Board may deem relevant. In addition, we
are a holding company and depend on the receipt of dividends and other distributions from our subsidiaries to pay dividends on our Ordinary
Shares.

There
are no foreign exchange controls or foreign exchange regulations under current applicable laws of the various places of incorporation
of our significant subsidiaries that would affect the payment or remittance of dividends.

For
the financial year ended April 30, 2025, Herlin declared aggregate interim tax exempt (one-tier) dividends of S$1,600,000 to Mr. Lim
of which S$1,000,000 has been paid and S$600,000 is still outstanding. The outstanding dividend payable is unsecured, interest-free and
repayable on demand. The outstanding dividend payable is considered a short term liability, though the Company does not expect to repay
it in the next 12 months.

ITEM
11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK