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

Singapore, Sept. 18, 2026 (GLOBE NEWSWIRE) -- Magnitude International Ltd (Nasdaq: MAGH) (“Magnitude International” or the “Company”), a mechanical and electrical engineering service provider that specializes in electrical works in Singapore, today announced that on September 16, 2026, the Company received an additional staff determination from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that, due to its failure to timely file its annual report on Form 20-F for the fiscal year ended April 30, 2026, it was then not in compliance with Nasdaq Listing Rule 5250(c)(1).

This matter constituted an additional basis for potential delisting of the Company’s securities, in addition to the prior staff determination from Nasdaq dated August 3, 2026, to delist the Company’s securities pursuant to Nasdaq’s discretionary authority under Nasdaq Listing Rule IM-5101-4 pertaining to the potential for one or more third parties to engage in misconduct impacting the Company’s securities.