Step 1: Concept
Since no external torque acts on the rotating ring system, the total angular momentum of the system is conserved: $I_1 \omega_1 = I_2 \omega_2$.
Step 2: Meaning
The initial moment of inertia of the ring is $I_1 = MR^2$. Adding two masses, each of mass $m$, at a distance $R$ from the center of rotation changes the final moment of inertia to $I_2$.
Step 3: Analysis
Find the final moment of inertia of the system:
\[ I_2 = MR^2 + mR^2 + mR^2 = (M + 2m)R^2 \]
Applying the conservation of angular momentum:
\[ I_1 \omega_1 = I_2 \omega_2 \implies (MR^2)\omega = (M + 2m)R^2 \omega_2 \]
\[ \omega_2 = \frac{M \omega}{M + 2m} \]
Step 4: Conclusion
The new angular velocity of the ring is $\frac{M \omega}{M + 2m}$.
Final Answer: (A)