Mercantile Ports & Logis... Share Discussion Threads

[igoe104] 28/8/2020 17:06

Believe me the management have made good money out of shareholders. Where has all the money disappeared from the fund raise ?

[dplewis1] 28/8/2020 17:03

Does seem very poor. Not even attractive for a grand punt, they don't seem capable of running a listed company

[phowdo] 28/8/2020 16:49

"The audit is expected to be concluded soon and certainly before the end of July."
"The audit is expected to be concluded soon and certainly before the end of August."
"The audit is expected to be concluded before the end of September."


You gotta laugh.

[escapetohome] 28/8/2020 16:39

“ nothing material to add ” , well, sounds good at least, thats the lingo to use ———;——̵2;—— ‘ material ‘ .


RNS Number : 5137X

Mercantile Ports & Logistics Ltd

28 August 2020

28 August 2020

Mercantile Ports & Logistics Limited

("MPL" or the "Company")

Accounts Filing Extension



Further to its announcement on 31 July 2020, MPL announces that it has been granted an extension to the timeline for the filing of its audited accounts for the period ending 31 December 2019. Whilst progress in the audit process has been made over the last month, the lockdown restrictions in India due to COVID-19 continue and the audit is not yet complete. The audit is expected to be concluded before the end of September.

In the meantime, the Company can confirm that there is nothing material to add to its announcement of 31 July.

[waterloo01] 28/8/2020 16:30

It's not a company that could survive a forensic audit, that's for sure.

[dplewis1] 28/8/2020 16:28

I guess suspension looms then!

[escapetohome] 28/8/2020 09:50

How did you guess , only 1/20 complete on the money they spent to date.

More funds needed.

[phowdo] 28/8/2020 07:49

They do have until 5pm to release a statement but lets face it, if it aint out at 7am like everyone elses then its almost certainly not going to be good.

[dplewis1] 28/8/2020 07:43

No RNS.. I guess they are beavering away in India to get them out by the end of day here

[aldoeldo] 27/8/2020 14:02

wink wink, not much on offer

[diku] 27/8/2020 13:46

Has the white gloved butler given the nod and a wink signal...

[aldoeldo] 27/8/2020 13:43

buyers inbound, it moves fast for sure.

[phowdo] 27/8/2020 08:36

Tomorrow at 5pm would be my guess.
Thats if they can be bothered.
Otherwise sometime next month.

[dplewis1] 27/8/2020 08:23

Not holding here but this has to have news tomorrow? 31st August is the bank hol so they won't be able to RNS anything

[placing] 26/8/2020 13:18

As previously announced, the first phase of land required by the Tata Projects and Daewoo Engineering Joint Venture was handed over on 1 April, on schedule, with revenue generated from that date. The Company remains confident of handing over the balance of the 25 acre plot by the end of August.


Not far off now

[phowdo] 26/8/2020 12:28

"The audit is expected to be concluded soon and certainly before the end of July."
"The audit is expected to be concluded soon and certainly before the end of August."

We wait with bated breath...

[aldoeldo] 26/8/2020 12:22

"Dear Ms Wood," ?

[diku] 19/8/2020 10:02

So it is up to the punters who invest in the AIM...imagine what would happen if every joe public investor/punter stopped buying into AIM directly or indirectly via fundies...enough is enough...would the AIM collapse own its own accord?...

[mount teide] 14/8/2020 15:03

Hi Waterloo01.......Did it make any difference?

No, the clueless, extremely poorly researched 'blue chip' II's went on to support a further placing($32m), for which they're already 90% down; on top of being 99% down on the first placing, and 99.9% down on the £72 million they provided at the IPO.

Sadly, as the market found at Barclays(9 years), the wheels of motion at the SFO move very slowly when investigating allegations of Fraud by False Representation, never mind bringing charges.

AIM Regulation is financed by the very people they're supposed to be 'regulating! So, very rarely choose to bite the hand that feeds them!


AIOHO/DYOR

[waterloo01] 14/8/2020 14:29

MT, great analysis and interesting to see the full letter. Did it make any difference. Did the regulator, NOMAD or foolish II's take any interest No. Kings new cloths comes to mind, but if they are Kings of anything, it's of deception.

[mount teide] 14/8/2020 14:20

Existing and prospective shareholders should ponder as to why the 'carrying value' of the only 'asset' on the books is 42 times greater than the current market cap and, the outstanding debt and interest payments some 25 times higher !

Hint: Research The Fraud Act 2006 - Section 2 / Fraud by False Representation and MPL's IPO Document, RNS and Shareholders Placing Circulars since 2010!