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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mercantile Ports & Logistics Limited | LSE:MPL | London | Ordinary Share | GG00BKSH7R87 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.15 | -8.33% | 1.65 | 1.60 | 1.70 | 1.80 | 1.625 | 1.80 | 2,290,751 | 16:16:13 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMPL
RNS Number : 2928L
Mercantile Ports & Logistics Ltd
21 December 2018
21 December 2018
Mercantile Ports & Logistics Limited
("MPL" or the "Company")
Open Offer Update
Mercantile Ports & Logistics Limited (AIM:MPL) announces that, following the Company's announcement made on 6 December 2018, monies for Nikhil Gandhi's participation in the Open Offer have been received and Mr Gandhi has been allotted 55,631,262 new ordinary shares in the Company. These shares will be held via SKIL Global Ports and Logistics Limited, an entity which is ultimately beneficially owned by Nikhil Gandhi.
As previously announced, Mr Gandhi's participation in the Open Offer is considered to be a related party transaction for the purposes of the AIM Rules for Companies. Given the absence of independent directors for the purposes of opining on the fairness of the terms of the transaction, as each Director participated in the Transaction, the Company's nominated adviser considers that that the participation in the Open Offer by Mr Gandhi is fair and reasonable insofar as the Shareholders are concerned.
Admission
Application has been made for 55,631,262 new Ordinary Shares to be admitted to trading on AIM. It is expected that the shares will be admitted at 8:00am on 21 December 2018 ("Admission").
Following Admission, the Company's enlarged issued share capital will comprise 1,905,022,123 Ordinary Shares, with voting rights. The Company does not hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights following Admission will be 1,905,022,123. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Unless otherwise defined, capitalised terms shall have the same meaning as those defined in the Company's circular to shareholders dated 17 November 2018.
-ENDS-
MPL C/O Newgate Communications +44 (0) 20 3757 6880 Cenkos Securities plc Stephen Keys (Nomad and Broker) +44 (0) 20 7397 8900 Newgate Communications Adam Lloyd (Financial PR) Fiona Norman +44 (0) 20 3757 6880 mpl@newgatecomms.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
December 21, 2018 06:50 ET (11:50 GMT)
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