Magnitude International Ltd Ordinary Shares

Magnitude International Ltd Announces Receipt of Additional Nasdaq Staff Determination Regarding Form 20-F Filing Deficiency

Magnitude International (Nasdaq: MAGH) received an additional Nasdaq staff determination on September 16, 2026 for failing to timely file its Form 20-F for the fiscal year ended April 30, 2026, creating a second basis for potential delisting of its securities. The new determination stacks on top of an August 3, 2026 staff decision to delist the securities under Nasdaq's discretionary authority (Rule IM-5101-4), which cited the potential for one or more third parties to engage in misconduct impacting the company's securities. The company attributes the filing delay to internal administrative procedures at its independent registered public accounting firm and filed the Form 20-F on September 17, 2026; it states the additional determination has no immediate effect on business operations or financial condition.

•1mo ago

MAGH: 20-F · periodic report

Magnitude International Ltd filed its Form 20-F annual report for the fiscal year ended April 30, 2026, reporting revenue of approximately S$19.1 million versus S$24.2 million in fiscal 2024, a stated negative CAGR of 11.3%, with project backlog of approximately S$85.0 million as of April 30, 2026. The dominant disclosure is a listing crisis: Nasdaq issued a Staff Delisting Determination on August 3, 2026 under Listing Rule IM-5101-4 citing the potential for third-party market manipulation, following an SEC temporary trading suspension from December 5-18, 2025 and a Nasdaq halt effective December 19, 2025. The company has appealed to a Hearings Panel, which stays the delisting pending a decision, but shares remain halted and the filing states there is no assurance trading resumes or the listing is maintained. The Singapore electrical installation contractor is highly concentrated: its top five customers generated 82.5% of fiscal 2026 revenue, and CEO Lim Say Wei, through nominee XJL International Ltd, controls 62.46% of the 35,000,000 shares outstanding, making it a Nasdaq controlled company. The company completed a US$8.8 million IPO at US$4.00 per share on August 13, 2025; if delisted, shares would likely be quoted over-the-counter with reduced liquidity, analyst coverage and capital-markets access.

SEC 20-F•1mo ago

MAGH: NT 20-F · late filing

Magnitude International Ltd filed a Form 12b-25 (NT 20-F) notifying the SEC that it cannot file its annual report on Form 20-F for the fiscal year ended April 30, 2026 by the prescribed deadline. The notification was signed by CEO and Director Lim Say Wei on August 31, 2026. The company said it requires additional time to complete and review its financial statements and finalize the Form 20-F, and its independent auditor WWC, P.C. also needs more time to complete the annual report review. Magnitude anticipates filing the report within the 15-calendar-day extension provided by Rule 12b-25. The filing states that no significant change in results of operations from the prior fiscal year is expected and that all other periodic reports over the preceding 12 months were filed on time. Still, a late annual report is a compliance red flag for this small Singapore-based issuer, and investors should watch whether the 20-F actually lands within the extension window.

SEC NT 20-F•1mo ago

Magnitude International Ltd Announces Receipt of Nasdaq Delisting Determination Notice

Magnitude International received a Staff Delisting Determination from Nasdaq dated August 3, exercising discretionary authority under Listing Rule IM-5101-4. The decision follows a December 2025 SEC trading suspension and subsequent Nasdaq halt, with the exchange citing concerns regarding potential third-party misconduct and insufficient liquidity. The company intends to request a hearing before a Hearings Panel, which will trigger an automatic stay of the delisting action pending a final decision.

•2mo ago