DeClout says no plan for now to mount counter offer for Procurri

Singapore

TECHNOLOGY incubator DeClout said it has no plans at the moment to mount a counter offer for Procurri, but is keeping all options on the table. It is also not in talks with the other five parties that have similarly voiced their intention to vote against the offer by private equity firm Novo Tellus for 51 per cent of Procurri at S$0.365 per share.

Speaking to The Business Times, DeClout chairman and group chief executive officer (CEO) Vesmond Wong said they are not coordinating their actions, but "these shareholders have been with us for a long time, so I guess they understand the value of Procurri".