Oceanscape International Limited (formerly V2Y Corporation Ltd.) – Extraordinary General Meeting: Major Developments for Investors

Summary of Key Points from the EGM

• Corporate Name Change: The company has officially proposed and approved a change in its corporate name from “V2Y Corporation Ltd.” to “Oceanscape International Limited,” signaling a major shift in corporate direction.
• Business Diversification: Shareholders approved the diversification of the company’s core business to include a new business area, spearheaded by Interim Executive Chairman Mr. Lang Jinjun, who brings significant relevant experience and a successful track record.
• Trading Suspension Update: The company’s shares remain suspended from trading on SGX-ST. The Board, which took office after the suspension, is actively working to resolve this and restore trading, recognizing the importance to shareholder value.
• Going Concern Status: The company confirmed it currently does not have going concern issues, citing a loan extended by Mr. Lang Jinjun as announced on 31 October 2025.
• Shareholder Approval: Both the business diversification and name change resolutions passed with overwhelming shareholder support.

Detailed Breakdown of the EGM Proceedings

1. Meeting Introduction & Quorum

The EGM was convened on 25 November 2025 at the Suntec Singapore Convention & Exhibition Centre, with Chairman Mr. James Kho presiding. Board members Mr. Lang Jinjun, Mr. Jonathan Lee Jiahui, and Ms. Wang Qiushi were introduced. The meeting began with confirmation of a quorum and procedural explanations, including that all voting would occur by poll.

2. Ordinary Resolution – Diversification into New Business

Strategic Rationale: The Board undertook a strategic review and concluded that the company’s existing businesses are loss-making, necessitating new revenue sources. The proposed new business leverages Mr. Lang Jinjun’s expertise and proven success in the field.

Shareholder Concerns Addressed:

• Going Concern: The Chairman assured shareholders that the company does not have going concern issues due to a recent loan from Mr. Lang Jinjun.
• Trading Suspension: The Board inherited the trading suspension and is actively seeking a path towards resumption of trading.
• Geographic Focus: The new business will initially target the Singapore market, with potential for expansion into other regional markets.

3. Special Resolution – Change of Company Name

The new name “Oceanscape International Limited” was chosen to signify the company’s strategic intent to expand beyond the local market, reflecting global ambitions. This change is intended as a signal to the market of the company’s new direction and broader vision.

4. Polling and Voting Results

Voting Process: All resolutions were voted by poll, managed by In.Corp Corporate Services Pte. Ltd. and scrutinized by Gong Corporate Services Pte. Ltd.

Results:

• Business Diversification: Passed unanimously – 226,957,344 shares for, 800 shares against.
• Name Change: Passed overwhelmingly – 226,869,344 shares for, 88,800 shares against.

Implication: The significant support for both resolutions indicates strong shareholder confidence in the Board’s strategic direction and leadership.

Potential Price-Sensitive Issues

• Trading Suspension: The ongoing suspension of shares and the Board’s efforts to resume trading are highly material and could significantly affect share value once resolved.
• Business Diversification: The move into a new business segment, supported by a leader with a strong track record, could represent a turning point for the company’s financial prospects.
• Going Concern Assurance: Confirmation that the company is not facing going concern issues, backed by a substantial loan from the Executive Chairman, may improve investor confidence.
• Rebranding and Strategic Direction: The name change and stated ambition for regional expansion may re-rate investor expectations and attract new interest in the company.

Conclusion

The EGM marks a pivotal moment for Oceanscape International Limited, with a decisive pivot in business strategy and branding, strong shareholder backing, and efforts underway to restore trading. These developments are significant for existing and prospective investors, as they may impact the company’s future performance and share price.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult professional advisors before making any investment decisions. The information presented is based on official meeting minutes and may be subject to change as the company executes its strategy.

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