Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 102

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 10
Chunk 102
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 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 International
Ltd, for cash at par.

On
December 27, 2024, we allotted and issued 762,998; 49,000; 49,000; 45,000; 45,000 and 49,000 shares to XJL International Ltd, Beyond
Merchant Limited, KeyStone Builders Group Limited, Kingkey Holdings (International) Limited, Canningale Investments Limited and SwiftBuild
Solutions Group Limited for $15,260; $9,800; $9,800; $9,000; $9,000 and $9,800 cash, respectively.

On
March 19, 2025, we allotted and issued one share to XJL International Ltd, 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.

On
May 27, 2025, for purposes of recapitalization in anticipation of the initial public offering, the Company amended its memorandum of
association to effect a 1:40 forward stock split and to change the authorized share capital to US$500,000 divided into 20,000,000,000
Ordinary Shares with a par value of US$0.000025 each. Concurrently, XJL International Ltd, Beyond Merchant Limited, KeyStone Builders
Group Limited, Kingkey Holdings (International) Limited, Canningale Investments Limited, SwiftBuild Solutions Group Limited, Ms. Cheng,
Mr. Chi and Mr. Choo surrendered 4,468,800, 325,850, 325,850, 299,250, 299,250, 325,850, 179,550, 199,500 and 226,100 Ordinary Shares
to the Company, respectively.

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.

On
August 13, 2025 we completed the initial public offering pursuant to a registration statement on Form F-1 (File No