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The latest announcement is out from V2Y Corporation Ltd. ( (SG:V2Y) ).
Shareholders of OceanScape International Limited have approved a series of measures at an extraordinary general meeting that will significantly reshape its capital structure and control. The company also disclosed it is seeking legal advice and working with its current sponsor to refile a trading resumption request after being surprised by its former sponsor’s earlier withdrawal of such a request.
At the meeting, investors overwhelmingly backed the proposed issue of conversion shares and the resulting transfer of controlling interest to a lender who is also a director. They also approved a related convertible loan, classified as an interested person transaction, and a whitewash resolution, collectively clearing the way for the financing package and control shift that are expected to support OceanScape’s efforts to address its suspended trading status and stabilise its operations.
More about V2Y Corporation Ltd.
OceanScape International Limited is a Singapore-incorporated company listed on the SGX Catalist board. It operates under the oversight of a sponsor regime and is currently working with its new sponsor and SGX RegCo on issues relating to a trading suspension and prospective resumption of trading in its shares.
Average Trading Volume: 305,100
Technical Sentiment Signal: Sell
Current Market Cap: S$3.71M
For a thorough assessment of V2Y stock, go to TipRanks’ Stock Analysis page.