DeClout selling 36.3m Procurri shares for S$12m

Singapore

CATALIST-listed DeClout has entered into an agreement to sell 36.3 million shares in mainboard-listed Procurri Corp to independent third party Novo Tellus PE Fund 2 at S$0.33 per share, which will raise net proceeds of S$12 million.

The purchaser is a private equity firm that invests in technology and industrial companies based in South-east Asia. The sale will represent a premium of 3 per cent to the volume-weighted average price of Procurri shares of S$0.3202 traded on Feb 14, being the last market day on which Procurri shares were traded prior to the date of the agreement.