Company: MAGH
Filing Date: 2025-01-02
Form Type: DRS
Source: 0001493152-25-000010
Chunk: 142

Company: Magnitude International Ltd
Filing Date: 2025-01-02
Form: DRS
Chunk 142
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 aimed at the prevention of money laundering, the Company may be required to adopt and maintain anti-money laundering procedures, and may require subscribers to provide evidence to verify their identity. Where permitted, and subject to certain conditions, the Company may also delegate the maintenance of our anti-money laundering procedures (including the acquisition of due diligence information) to a suitable person.

The Company reserves the right to request such information as is necessary to verify the identity of a subscriber. In the event of delay or failure on the part of the subscriber in producing any information required for verification purposes, we may refuse to accept the application, in which case any funds received will be returned without interest to the account from which they were originally debited.

History of Securities Issuances

Our Company was incorporated in the Cayman Islands on October 25, 2024. Upon our incorporation, our Company has an authorized share capital of US$500,000 divided into 500,000,000 shares of nominal or par value of US$0.001 each.

On November 21, 2024, the initial one subscriber share was transferred to Mr. Lim’s wholly-owned nominee company, XJL, for cash at par.

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On [●], we allotted and issued 762,998; 49,000; 49,000; 45,000; 45,000 and 49,000 Ordinary Shares to XJL, Beyond Merchant Limited, KeyStone Builders Group Limited, Kingkey Holdings (International) Limited, Canningale Investments Limited and SwiftBuild Solutions Group Limited for $16,240; $9,800; $9,800; $9,000; $9,000 and $9,800 cash, respectively.

On [●], we allotted and issued further one share to XJL, credited as fully paid, in consideration of Mr. Lim’s transfer of the entire issued share capital of Herlin and BNL to Elec Power Ltd.

The above issuances were exempt from registration under Section 4(a)(2) of the Securities Act because they were transactions by an issuer not involving any public offering. Save for the above, there is no other securities issuance in the past three years.

<div align='center'>SHARES ELIGIBLE FOR FUTURE SALE</div>

Prior to this offering, there has been no public market for our Ordinary Shares, and while we intend to apply for the listing of our Ordinary Shares on Nasdaq, we cannot assure you that an active trading market for our Ordinary Shares