PROCURRI CORPORATION LIMITED DeClout Limited (Catalist:5UZ) is planning to sell stake in Procurri Corporation Limited (SGX:BVQ). Declout's Directors proposed to convene an Extra Ordinary General Meeting (EGM) to seek Shareholders' approval for the proposed disposal, in whole or in part, of 132,319,978 Procurri Shares, being the Declout's entire interest in Procurri as at the Latest Practicable Date. The Disposal Shares represent approximately 46.83% of the existing issued and paid-up share capital of Procurri.
DeClout expects to receive net proceeds of approximately SGD 42.1 million, after deducting estimated expenses of approximately SGD 0.2 million, assuming that all the Disposal Shares are disposed at the minimum Disposal Price of SGD 0.32 per Disposal Share.
