OceanScape International Reaches Settlement With Ex-Director

MT Newswires

Yesterday

OceanScape International (SGX:V2Y) has reached an "amicable settlement" with former director Yip Mun Foong over legal claims between the parties, including outstanding director's fees.

The company and Yip filed notices of discontinuance on Sept. 14, with no order as to costs, according to a Tuesday filing. Both parties will have no further claims against each other in relation to the proceedings.

Legal proceedings against other former directors Geng Guilin and Guo Zhipeng remain ongoing, while the settlement is not expected to materially affect the group's earnings.

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