Procurri gets non-binding letter of intent from 3rd party to acquire assets

PROCURRI Corporation on Tuesday said it has received an "unsolicited, non-binding letter of intent" from a third party to acquire some of its business assets, subject to due diligence, among other things.

Nonetheless, no definitive agreements have been entered into, and there is no certainty that the transaction will take place, the mainboard-listed enterprise hardware supplier said.

"Further announcements will be made by the company as and when there are any material developments on the possible transaction," Procurri said.

The company requested a trading halt in the morning pending this announcement. Procurri shares last traded at 37 Singapore cents each, down 3.9 per cent, or 1.5 cents.

As at Nov 5, the company has a market cap of S$109.6 million, data from the Singapore Exchange shows.