Details Investors Should Note

OceanScape International Limited has received a formal Letter of Demand from legal representatives of its former Non-Executive and Independent Chairman, Mr. Yip Mun Foong, James. The letter, dated 25 November 2025 and received by the company on 27 November 2025, seeks payment of S\$41,555.56 in allegedly unpaid director’s fees.

The company’s Board of Directors, led by Executive Chairman Lang Jinjun, has indicated that they are actively seeking legal advice on how to respond to the demand. At this stage, there has been no admission of liability or agreement to settle the sum requested.

This development is significant for shareholders for several reasons:

• Potential Financial Impact: While the quantum (S\$41,555.56) is relatively modest in the context of a publicly listed company, any dispute involving former directors and claims of unpaid dues can raise questions about corporate governance and financial management.
• Reputational Considerations: Disputes with former board members, especially those in independent roles, may affect market perception and investor confidence, potentially influencing share price volatility.
• Ongoing Legal Proceedings: The fact that the company is seeking legal advice and has not yet resolved the matter means there is a risk of further escalation, which could include legal action or regulatory scrutiny.
• Disclosure and Transparency: The company has committed to providing updates to shareholders, signaling that further information may follow, which could be price sensitive depending on the outcome of the legal review or any settlement.

What Should Shareholders Do?

Shareholders should monitor further announcements from OceanScape International Limited regarding the resolution of the outstanding director’s fees. Given the involvement of the company’s former chairman and the potential implications for governance standards, investors are advised to stay informed on how the company handles this matter and any resultant actions that may arise from legal consultations.

The company’s sponsor, Evolve Capital Advisory Private Limited, has reviewed the announcement, but the Singapore Exchange has not examined or approved the content. Investors should consider this when weighing the significance of the current disclosure.

Conclusion

The receipt of a formal demand for unpaid director’s fees and the company’s current response could have implications for investor sentiment and the company’s share price. The situation remains fluid, with further updates expected as legal advice is obtained and actions determined.

Disclaimer: This article is provided for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investors are encouraged to conduct their own due diligence and consult professional advisors before making investment decisions. The information herein is based on public disclosures as of the stated dates and may be subject to change as new information becomes available.

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