SINGAPORE (Oct 8): Procurri Corporation, a 46.83% held portfolio company of DeClout, announced that due diligence by the interested third party is still ongoing.

in addition, no definitive agreements have been entered into and there is no certainty that the possible transaction will be consummated.

On Sept 7, Procurri announced that the company had received an unsolicited, non-binding indication of interest from the third party to acquire shares of the company by way of a possible voluntary general offer.

The group says it will make the necessary announcements to keep shareholders updated as and when there are any material developments regarding this matter.

Shares in Procurri last traded at 30 cents on Friday.

See: Procurri expects loss in FY17; announces long-term strategies to return to profitability

See also: Procurri gets vote of no confidence from inconsistent profit growth