DeClout: Collateral, guarantee, change of control terms for S$10m loan not unusual

Singapore

CATALIST-listed tech firm DeClout on Tuesday said that a S$10 million two-year loan it took from six private investors was the "best available financing option", and that the pledged assets and guarantees under the loan are not unusual for such transactions.

A group of minority shareholders had criticised the loan as entrenching founder Vesmond Wong's position in the company since the debt may be accelerated if he and one executive lose control of the firm.

DeClout's 47 per cent stake in Singapore-listed Procurri…