Founder of Fission Property Melvin Poh emerges as Declout's second-largest shareholder

SINGAPORE (Apr 23): Declout announced that Melvin Poh, the founder and managing director of local property group, Fission Group, has emerged as its second-largest shareholder.

Poh acquired 78.15 million shares in DeClout, which were held by the previous second-largest shareholder Wong Poh Leng, in an off-market transaction on Apr 17 for 11.8 cents per share. The acquisition price represents a premium of 35.6% over the closing price on Apr 13.

Over the next three days, Poh acquired a further 2.648 million shares at an average of 9.0 cents per share from the open market.

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