OceanScape International Provides Detailed Update on Trading Suspension and Path Forward

Singapore, March 15, 2026 – OceanScape International Limited (formerly V2Y Corporation Ltd.), a Singapore-incorporated company, has issued comprehensive responses to shareholder questions ahead of its upcoming Extraordinary General Meeting (EGM) scheduled for March 20, 2026. The responses, released by the company’s Board of Directors, provide critical insights into the ongoing suspension of trading of its shares, actions taken by the new Board, and the roadmap for potential trading resumption. The information is particularly significant for investors as it addresses matters that may impact share value and liquidity.

Key Highlights from the Company’s Response

• Trading Suspension Stems from Whistleblowing Complaint:
  • The company’s shares have been suspended from trading since September 29, 2025, following the receipt of an alleged whistleblowing complaint from a shareholder.
  • This critical decision was made by the previous Board of Directors, and the current Board was appointed only after the trading halt and subsequent suspension.
  • The current Board has not received a complete handover, including documents relating to the whistleblowing complaint, despite repeated requests.
  • The previous Board stated in announcements that they had “sought and obtained legal advice” regarding the whistleblowing complaint, but the current Board has not been able to review any such legal advice to verify its substance or scope.
• Review and Investigation Underway:
  • The current Board has engaged an independent third-party legal advisor to review and advise on the allegations raised in the whistleblowing complaint.
  • The company has committed to updating shareholders on the findings and recommendations of its legal advisor in due course – this could be a price-sensitive development for investors depending on the outcome of the review.
• Efforts to Resume Trading:
  • Since taking office, the current Board and management have undertaken a thorough review of the company’s historical matters and have responded to queries from Singapore Exchange Regulation Pte. Ltd. (SGX RegCo).
  • The company submitted multiple requests to its former continuing sponsor for the resumption of trading, with supplementary information provided over several months.
  • However, the company was recently informed that the most recent submission for trading resumption (dated January 19, 2026) was withdrawn by the former sponsor due to a change in sponsorship.
  • OceanScape now plans to work with its new sponsor to submit a fresh application to SGX RegCo for the resumption of trading.
• No Indicative Timeline for Trading Resumption:
  • The Board cannot provide a definitive or indicative timeline for when trading will resume.
  • Resumption is subject to the review and approval of SGX RegCo and will require the company to meet conditions such as demonstrating sufficient working capital for at least the next 12 months.
  • To support its working capital position, Mr. Lang Jinjun has extended an interest-free loan facility of up to S\$20 million to the company, including a S\$5 million convertible loan that is a key subject at the upcoming EGM.
• Shareholder Impact:
  • The ongoing suspension has prevented shareholders from trading their shares, affecting liquidity and potentially impacting share value.
  • Resumption of trading remains a top priority, and the company will continue engaging with regulators and making further announcements to keep shareholders informed.

Important Considerations for Investors

• The whistleblowing complaint and its investigation could result in significant findings, which may materially impact the company’s reputation, regulatory standing, and ultimately, share value.
• The change of sponsor and the need for a new trading resumption application introduces further uncertainty regarding the timeline and outcome of the process.
• The substantial interest-free loan from Mr. Lang Jinjun is a crucial factor in supporting the company’s working capital, which is a pre-condition for trading resumption. Any change to the terms or availability of this funding could be material.
• Investors should closely monitor company announcements for updates on the investigation, sponsor application, and SGX RegCo’s response.

Conclusion

OceanScape International Limited’s responses reveal ongoing uncertainty and a complex path to resumption of trading. The outcome of the whistleblowing investigation, regulatory review, and the company’s ability to secure working capital are all factors that could significantly affect the company’s share price once trading resumes. Investors are advised to remain vigilant and await further updates from the company.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are urged to conduct their own due diligence and consult their financial advisors before making investment decisions. The situation at OceanScape International Limited remains fluid and subject to regulatory and legal developments that could materially impact the company and its share price.

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