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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.80 | 1.70 | 1.90 | 1.80 | 1.80 | 1.80 | 47,020 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMPL
RNS Number : 3199L
Mercantile Ports & Logistics Ltd
09 September 2021
9 September 2021
Mercantile Ports & Logistics Limited
(the "Company")
Result of General Meeting
Further to the Company's announcements on 19 & 20 August 2021 regarding the conditional Placing, Subscription and PrimaryBid Offer to raise GBP10.1 million (before expenses) at a price of 0.45 pence per share, and the 100 to 1 Share Consolidation, the Company announces that all Resolutions put to Shareholders at today's General Meeting in connection with the Placing and Share Consolidation were duly passed.
A summary of the voting results is shown below:
Votes For Against Withheld % Voting For* Resolution 1 868,136,102 864,636,545 2,981,920 517,637 99.66% ------------ ------------ ---------- --------- --------- Resolution 2 868,136,102 865,134,322 2,861,920 139,860 99.67% ------------ ------------ ---------- --------- --------- Resolution 3 868,136,102 864,603,709 2,864,756 667,637 99.67% ------------ ------------ ---------- --------- --------- Resolution 4 868,136,102 865,131,486 2,864,756 139,860 99.67% ------------ ------------ ---------- --------- ---------
* This represents the number of votes that were cast for the resolutions as a percentage of the number of votes cast in total for each resolution, excluding Withheld votes, either in person or by proxy
Accordingly, the Company will raise a gross total of GBP10.1 million via the Placing, Subscription and PrimaryBid Offer through the issue and allotment of 2,244,947,810 new Ordinary Shares. An application has been made for the 2,244,947,810 Placing Shares to be admitted to trading on AIM, which is expected to take place at 8.00 a.m. on 10 September 2021.
Immediately following Admission on 10 September 2021, the Company's issued share capital will comprise 4,149,969,933 Ordinary Shares, of which none are held in treasury. As per the Circular posted to shareholders on 20 August 2021, the 100 to 1 Share Consolidation is expected to take place on 13 September 2021. From 8.00 a.m. on 13 September 2021, the Company's issued share capital will comprise 41,499,699 Ordinary Shares, of which none are held in treasury.
Hunch Ventures Subscription Monies
As noted in the announcement of 19 August 2021, the Hunch Ventures Subscription is conditional upon the provision of the Bank Guarantee pursuant to the provisions of the Subscription Agreement. The Company is pleased to inform that Hunch Ventures has instead transferred the Subscription monies to one of the Group's Indian bank accounts and the Group now has access to the funds. The Company views this as a better result than a bank guarantee and as such satisfies the conditions of the Subscription.
Unless otherwise defined, capitalised terms within this announcement have the same meaning as those within the 'Definitions' section of the Company's announcement dated 19 August 2021 under RNS Number 2252J .
Enquiries: MPL Jay Mehta C/O Newgate Communications +44 (0)20 3757 6880 Cenkos Securities plc (Nominated Stephen Keys Adviser and Joint Broker) +44 (0)20 7397 8900 Zeus Capital Limited (Joint Broker) Daniel Harris/Andrew Jones/James Hornigold +44 (0)203 829 5000 Newgate Communications (Financial Isabelle Smurfit PR) +44 (0)20 3757 6880
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(END) Dow Jones Newswires
September 09, 2021 10:50 ET (14:50 GMT)
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