Vasudhagama Enterprises Ltd — Important, 23-12-2025: Company Update

Vasudhagama Enterprises Limited faces major operational disruptions, reducing staff and operations. Payment gateways stopped services due to regulatory uncertainties from the new Online Gaming Act, despite VEL not being a gaming company. This necessitates a business pivot for VEL and its subsidiaries. Concurrently, the Company Secretary has resigned, a new statutory auditor is appointed for five years, and the board will pursue recovery of business advances outstanding for over two years. This update signals significant strategic adjustments and financial recovery efforts.