The board of directors of Blumont Group Ltd. announced that the Group is expected to report net losses for the second quarter and six months ended 30 June 2017. The losses primarily arose from the following grant of 4,120,000 share awards at SGD 0.001 per share under the Blumont Performance Share Plan on 13 June 2017, which was subsequently allotted and issued on 19 June 2017; and loss incurred on strike-off of a dormant subsidiary of the company, Blumont Copper Pte. Ltd. as announced on 20 June 2017.