Company: EGG
Filing Date: 2025-03-04
Form Type: DRS/A
Source: 0001493152-25-008991
Chunk: 109

Company: ENIGMATIG LTD
Filing Date: 2025-03-04
Form: DRS/A
Chunk 109
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Our licensing consultancy services have historically contributed the majority of our corporate services income. In Fiscal 2022, Fiscal 2023, and Fiscal and 2024, corporate services income from licensing consultancy services accounted for 84.6%, 69.5% and 53.6%, respectively, of our total corporate services income for the year.

Corporate secretarial and other services

Overseas
company incorporation services - We help clients from jurisdictions around the world set up overseas companies in numerous jurisdictions,
including directly in the United Kingdom, Hong Kong and Belize. Corporate secretarial services are a regulated activity in Hong Kong
and Belize, which we operate through our licensed Hong Kong subsidiary under the Trust and Company Service Providers (TCSP) and our licensed
Belize subsidiary under the Financial Services Commission of Belize (FSC). We also provide these services indirectly through third party
professional partners in over 15 other jurisdictions, primarily including the BVI, Dubai Multi Commodities Centre, the Seychelles and
St. Vincent. In Fiscal 2022 we helped 72 clients incorporate companies in 11 distinct jurisdictions, and in Fiscal 2023 we helped 50
clients incorporate companies in 14 distinct jurisdictions. In Fiscal 2024, we helped 46 clients incorporate companies
in 13 distinct jurisdictions. In Fiscal 2022, Fiscal 2023 and Fiscal 2024, corporate services income from incorporation
services accounted for 14.1%, 15.8% and 17.6%, respectively, of our total corporate services income. We believe our ability to
assist clients to incorporate overseas entities is a cornerstone of our relationship-focused approach and of more strategic importance
than just the corporate services income such service generates, as clients for whom we provide licensing services often first require
incorporation services and such newly-formed entities often have a number of additional corporate secretarial needs for which they will
need our further assistance. As a result, corporate services income generated from those clients for whom we had helped incorporate an
overseas company accounted for 92.3%, 100.0% and 88.6%, respectively, of our total corporate services income in Fiscal 2022, Fiscal
2023 and Fiscal 2024.

In addition to initial incorporation, we provide a range of other administrative corporate secretarial services needed by newly-incorporated companies and existing companies on an on-going basis. Such services include, but are not limited to, issuing of certificates of incumbency, filing annual and