Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 122

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 16D
Chunk 122
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ITEM
16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES

As
a company incorporated in the Cayman Islands, we are permitted to adopt certain home country practices in relation to corporate governance
matters that differ significantly from Nasdaq corporate governance listing standards. However, our audit committee is required to comply
with the provisions of Rule 10A-3 of the Exchange Act, which is applicable to U. S. companies listed on Nasdaq. Therefore, we have a fully
independent audit committee in accordance with Rule 10A-3 of the Exchange Act. However, because we are a foreign private issuer, our
audit committee is not subject to additional Nasdaq corporate governance requirements applicable to listed U. S. companies, including
the requirements to have a minimum of three members and to affirmatively determine that all members are “independent,” using
more stringent criteria than those applicable to us as a foreign private issuer.

ITEM
16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS