Company: MAGH
Filing Date: 2025-07-18
Form Type: F-1/A
Source: 0001641172-25-020173
Chunk: 137

Company: Magnitude International Ltd
Filing Date: 2025-07-18
Form: F-1/A
Chunk 137
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 Governance Guidelines

Prior to the effectiveness of the registration statement of which this prospectus is a part, we intend to adopt a written code of business conduct and ethics that applies to our directors, officers and employees. Following the effectiveness of the registration statement of which this prospectus is a part, a current copy of this code will be posted on the Corporate Governance section of our website, which is located at https://www.bnlengrg.com. The information on our website is deemed not to be incorporated in this prospectus or to be a part of this prospectus. We intend to disclose any amendments to the code of ethics, and any waivers of the code of ethics or the code of conduct for our directors, executive officers and senior finance executives, on our website to the extent required by applicable U.S. federal securities laws and the corporate governance rules of Nasdaq.

Controlled Company Exemptions

Upon completion of this offering, Mr. Lim will continue to control more than 50% of the aggregate voting power of our total issued and outstanding share capital. As a result, we will be a “controlled company” under Nasdaq corporate governance rules. As a controlled company, exemptions under the standards will free us from the obligation to comply with certain corporate governance requirements, including the requirements:

| ● | that                                                                     
 a majority of our board of directors consist of “independent directors”, 
 as defined under the rules of Nasdaq;                                    |

| ● | that                                                                                       
 our director nominees must be selected or recommended solely by independent directors; and |

| ● | that                                                                                           
 we have a compensation committee or nomination committee, and that any nomination committee    
 or compensation committee be composed entirely of independent directors with a written charter 
 addressing the committee’s purpose and responsibilities.                                       |

These exemptions do not modify the independence requirements for our audit committee.

If at any time we cease to be a “controlled company” under Nasdaq corporate governance rules, we intend to rely on the foreign private issuer exemption from certain of the corporate governance requirements of Nasdaq.

| 107 |

Compensation of Directors and Executive Officers

For the years ended April 30, 2023 and 2024, we paid an aggregate of approximately S$362,972 and S$482,752, respectively, in cash to our directors and executive officers as a group.

For the six months ended October 2024,
we paid aggregate of approximately S$202,957, in cash to our directors and executive officers as a group.

Bonuses are not payable pursuant to a