CSE Global on April 4 says there had been no discussions with an unnamed party that had indicated an "expression of interest" in a "potential strategic transaction" involving its largest shareholder Heliconia Capital.
This potential deal was first announced by CSE Global a month ago on March 5.
Heliconia Capital, an indirect unit of Temasek, holds a 23.44% stake.
"The strategic review is still in early stages and there has to date been no discussions between the board and the other party on the EOI," the company says.
CSE Global adds that the EOI did not contain further details such as transaction scope or any indicative price.
"There is no certainty or assurance that any definitive agreement will be entered into or any transaction will materialise from the strategic review," adds CSE Global, which has also not indicated if it has appointed a financial adviser.
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According to CSE Global on March 5, the review is to maximise shareholder value, which would include an analysis of strategic options available and an analysis of possible transactions involving CSE Global's shares and, or all or part of its business and assets.
CSE Global shares closed at $1.18 on April 2, down 6.3% since the review was announced, but up 14.56% year to date.
