Mercantile Ports & Logistics Ltd Board Appointments (7466J)

TIDMMPL

RNS Number : 7466J

Mercantile Ports & Logistics Ltd

07 December 2018

7 December 2018

Mercantile Ports & Logistics Limited

("MPL" or the "Company")

Board Appointments

Mercantile Ports & Logistics Limited (AIM:MPL), is pleased to announce that, as noted in the Circular posted to Shareholders and available on the Company's website, following the completion of the Company's recent capital raising, Karanpal Singh and Jeremy Warner Allen have been appointed as Non-Executive Directors of the Company.

Board appointments

Karanpal Singh, aged 41, is an Indian based entrepreneur with extensive investments across a range of sectors including steel, iron ore, gold mining, power, transmission and a host of technology related Investments. Hunch Ventures, in which Karanpal is a founder, will become a substantial shareholder in MPL. Hunch Ventures is a leading investor in India's growth. Its investment in Karanja and scaling MPL is a key focus of Hunch Ventures.

Jeremey Warner Allen, aged 63, is appointed to the Board having had a successful career in the City as an adviser to growth companies across multiple sectors. As a previous adviser to MPL, he has in depth knowledge of the Company and the opportunities. With his previous background advising public companies, the Board looks forward to benefitting from his experience, particularly in matters relating to communication with shareholders.

Details of Karanpal Singh and Jeremy Warner Allens' directorships are set out below.

Commenting on the appointments, Nikhil Gandhi, Executive Chairman of MPL said, "Following the AGM today I am delighted to formally welcome Karanpal Singh and Jeremy Warner Allen to the board of MPL and the Company looks forward to benefitting from their extensive industry and financial market experience."

Karanpal Singh currently holds or has held the following directorships or partnerships in the past five years:

 
              Current                              Previous 
 Kamal Sponge Steel and Power        Ramgarh Coal Company Private 
  Limited                             Limited 
  Viraj Steel and Energy Private      Thesgora Coal Private Limited 
  Limited                             Essential Resources Private Limited 
  Empowertrans Private Limited        Shri Jagannath Steels & Power 
  KJS Concrete Private Limited        Limited 
  Macro Developers Private Limited    Interesting Foods Private Limited 
  Nameh Projects Private Limited      Dynamic IT Park Developers Private 
  Nameh Hotels Private Limited        Limtied 
  Nameh Hotels & Resorts Private      Hostra Systems Private Limited 
  Limited                             Nameh Retreat Private Limited 
  Flyblade (India) Private Limited    Nameh Holiday Homes Private Limited 
  Hunch Venture and Investment        Luxfinity (India) Private Limited 
  Private Limited                     Sterling Infrastructure Private 
  KJS Imperial Properties Private     Limited 
  Limited 
  Nameh Properties Private Limited 
  Suave Ventures Private Limited 
  Nameh Housing Private Limited 
  Lifestyle & Media Holdings 
  Limited 
  Indianroots Shopping Limited 
  Quintessentially Lifestayle 
  Servcies (India) Private Limited 
  QCND Private Limited 
  Hunch Circle Private Limited 
  Hunch Raxak Inida P Ltd 
                                    ------------------------------------- 
 

Karanpal Singh holds a total of 414,349,000 ordinary shares in the Company, following his recent participation in the capital raising. Karanpal Singh's interest are all held indirectly through Hunch Ventures and Investment Private Limited, a company which is ultimately beneficially owned by Karanpal Singh and considered to be a person closely associated with Mr Singh.

Jeremey Warner Allen currently holds or has held the following directorships or partnerships in the past five years:

 
        Current                 Previous 
 OPG Power Ventures plc   Cenkos Securities plc 
 TP Group plc 
                         ---------------------- 
 

Mr Warner Allen holds a total of 7,540,000 ordinary shares in the Company, following his recent participation in the capital raising.

There are no further disclosures to be made pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies in respect of the appointment of Karanpal Singh and Jeremy Warner Allen.

-ENDS-

 
 MPL                      C/O Newgate Communications 
                           [phone] 
 Cenkos Securities plc    Stephen Keys 
  (Nomad and Broker)       [phone] 
 Newgate Communications   Adam Lloyd 
  (Financial PR)           Fiona Norman 
                           [phone] 
                           [e-mail] 
 

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END

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December 07, 2018 03:10 ET (08:10 GMT)