The Board of Directors of MAGNI wishes to announce that Messrs. Grant Thornton had on 30 December 2020, given a notice in writing to the Board of Directors of their resignation as auditors of the Company.

Pursuant to Section 281(2) of the Companies Act 2016, their term of office as auditors of the Company shall come to an end on 30 December 2020.

The Board of Directors of MAGNI wishes to inform that the said resignation was as a result of the merger of Messrs. Grant Thornton (the Penang practice) with Messrs. Grant Thornton Malaysia PLT with effect from 1 January 2021 to operate as a national firm. Therefore, the Board of Directors of MAGNI had appointed Messrs. Grant Thornton Malaysia PLT (AF: 0737), who has consented to act as auditors of the Company, to fill the casual vacancy in the office of the auditors pursuant to Section 271(2)(b) of the Companies Act 2016.

This announcement is dated 30 December 2020.