3 irate shareholders to take on DeClout at AGM
They say that Procurri - a company that became 47% owned by DeClout after it was spun off and listed on Singapore's main board two years ago - is better off without DeClout
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Anita Gabriel
Singapore
CATALIST-listed tech incubator DeClout's board may have a high-profile fight on its hands to assuage three irate shareholders including Singapore-based Alex Turnbull, son of Australian Prime Minister Malcolm Turnbull, over what they claim are "governance overhang" issues plaguing the firm. Their main beef is the fate of their investments in Procurri - a company that became 47 per cent owned by DeClout after it was spun off and listed on Singapore's main board two years ago - which they feel is better off without DeClout.
"We are keen to see better governance and more accountability," Mr Turnbull, who manages Singapore-based hedge fund Keshik Capital, told The Business Times. He was formerly at Goldman Sachs' special situations group.
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