OceanScape International: Receives Shareholder Inquiries, Files Lawsuit Against Former Directors

NewTimeSpace News: On April 7, 2026, OceanScape International announced that it has received multiple letters from shareholders raising questions regarding the trading halt implemented on September 25, 2025, and the subsequent voluntary trading suspension on September 29, 2025. Shareholders questioned whether there were sufficient grounds for the trading halt and/or suspension, the reasons for the continued suspension, and when the suspension may be lifted. Shareholders also expressed concerns that the continued suspension has adversely affected liquidity and their ability to exit their investment in the Company.

Additionally, the announcement disclosed that OceanScape International has filed a lawsuit against former directors Mr Yip Mun Foong, Mr Geng Guilin and Mr Guo Zhipeng. The Board noted that the former directors had stated in an announcement dated September 26, 2025, that they had "sought and obtained legal advice" in relation to a whistleblowing complaint, but searches found no evidence or records of such legal advice having been sought or obtained. The September 26 announcement also stated that the complaint had been made by a shareholder, but the Board has since determined that the complaint was not made by a shareholder. OceanScape International's Board believes the former directors may have breached their fiduciary duties and commenced proceedings in the High Court of Singapore against the former directors on April 2, 2026. The Company has also included its former continuing sponsor as a defendant in the claim.

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