VS Media Seeks Approval to Sell Loss-Making Units for $1 and Rebrand as Forcendra Holding

summarizeSummary

VS Media plans to sell its loss-making VSM Holdings subsidiary for US$1.00 and adopt a new charter renaming the company to Forcendra Holding, adding stock-split authority, a Class B redemption right, a lower director removal threshold, and board power to sell over 50% of assets without shareholder approval. Shareholders vote October 9, 2026.

check_boxKey Events · Corporate Governance and Compliance · VSME

• New · Sep 24 · SEC 6-K/A

  Board Empowered to Sell Over 50% of Assets

  The new charter would let the board sell over 50% of assets without shareholder approval.

• Loss-Making Units Sold for $1

  Proposal 1 would transfer VS Media SG to Aurenza Group, then sell VSM Holdings—which holds the loss-making subsidiaries—to an unaffiliated third party for US$1.00.

• Company Renamed to Forcendra Holding

  Proposal 2 changes the legal name from VS MEDIA Holdings Limited to Forcendra Holding Limited, with Nasdaq and SEC to be notified of the new name and ticker.

• Stock Split Authority Added

  New Section 6.4 grants the Board or shareholders express power to divide or combine shares—enabling forward or reverse splits without a separate memorandum amendment.

• Class B Redemption Right Introduced

  New Section 7.7 lets the company redeem Class B shares from an Affected Holder upon a Triggering Event, such as termination of an Eligible Member's employment, at a Board-determined price.

auto_awesomeAnalysis · VSME · Trade & Services

Shareholders are being asked to approve a sweeping restructuring that would see VS Media sell VSM Holdings—the subsidiary holding its loss-making businesses—to an unaffiliated third party for just US$1.00. At the same time, the company would adopt a new constitution renaming it Forcendra Holding Limited, adding express authority for future stock splits, introducing a Class B share redemption right tied to executive departures, lowering the director removal threshold from 75% to 50%, and granting the board power to sell over 50% of assets without shareholder approval. The $1 sale price signals that the disposed operations carry negative value, while the governance changes—particularly the easier director removal, the redemption right over Class B shares, and the expanded board authority over major asset sales—materially shift control dynamics. The vote is set for October 9, 2026.