DeClout

DeClout: DeClout's wholly-owned subsidiary Corous360 has signed a non-binding MOU to be the platform operator for the Take5 platform in Asean, Taiwan, Hong Kong and Macau, with a first right of refusal for the China market for 18 months. Corous360 will be responsible for the hosting, payment processing and the reward management system of the Take5 platform, and has a targeted launch date by the end of 2013. Take5 is a global online skill-gaming platform that allows players to compete with each other on multiple platforms to win rewards. Separately, DeClout is proposing a renounceable 1-for-2 rights issue of 102.3m new shares at $0.11 each, or a 42% discount to its last closing price of $0.189. Assuming full subcription of the rights, the net proceeds of $11m will be raised with up to $7.7m earmarked for the expansion of new business ventures and $3.3m will be utilized for general working capital purposes.