DeClout said on Sunday that the company’s Chairman and CEO Wong Kok Khun had notified the board of directors of a possible transaction involving the company’s shares in connection with a potential general offer by an independent third party.
“The company understands that the possible transaction is in advanced stages, but no definitive agreements have been entered into,” DeClout said in a filing to SGX late on Sunday.
Wong Kok Khun holds a 12.33 percent stake in DeClout, according to SGX data.
DeClout said it would make further announcements when there are any material developments and added that shareholders were advised to exercise caution.
The company had requested a trading halt of its shares on 3 January, pending the release of an announcement.
DeClout is an investment holding company, and it offers information and communications technology services internationally, according to the SGX data.