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 Shares Traded Last Trade
  0.50 1.43% 35.50 26,331 08:26:57
Bid Price Offer Price High Price Low Price Open Price
35.00 36.00 35.50 35.00 35.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 0.03 -4.98 15
Last Trade Time Trade Type Trade Size Trade Price Currency
13:57:13 O 958 35.70 GBX

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Date Time Title Posts
22/9/202116:49Mercantile Ports and Logistics 2,100
13/1/200613:40Montpelier Group820
17/2/200511:08Cash rich MONTPELLIER under priced27
06/2/200517:41what merit in montpelier27
10/12/200408:16Montpellier (MPL) CHEAP. Share price=25.5p,NAV=40-50p,EPS=5-6p,P/E=4-5903

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Mercantile Ports & Logis... Daily Update: Mercantile Ports & Logistics Limited is listed in the Industrial Transportation sector of the London Stock Exchange with ticker MPL. The last closing price for Mercantile Ports & Logis... was 35p.
Mercantile Ports & Logistics Limited has a 4 week average price of 20.90p and a 12 week average price of 20.90p.
The 1 year high share price is 93.50p while the 1 year low share price is currently 20.50p.
There are currently 41,499,699 shares in issue and the average daily traded volume is 39,582 shares. The market capitalisation of Mercantile Ports & Logistics Limited is £14,732,393.15.
mount teide: Back in 2014 the Management told the market the company website would regularly be updated with progress photographs as construction of the terminal progressed. How's that working out for shareholders who has since been diluted into oblivion - well, despite the 'port development' being in its 8th year of 'construction' and laughably having a claimed carrying 'value' of circa £200m, its still only around 25% developed compared to the much higher specification detailed in the 2010 IPO Document, that was put out in a construction tender won by ITD Cementation with an offer of £57m. Answer: There has not been a single construction photograph posted on the Company website for nearly 4 years! When Jeremy Warner Allen was appointed Chairman he said "I truly believe in the potential of MPL and have full confidence that we will deliver a profitable and valuable business to all our stake holders. I have no doubt that the future will be exciting for the Company and I look forward to playing my part in growing the business and the platform as a whole." In 2019, we wrote to him and asked "what have you been doing for shareholders since joining the Board in 2018?" As we noted, "in common with your predecessor you do not hold any shipping or ports industry professional qualifications or have any first hand senior management experience of either industry. Consequently, as shareholders (one share each), currently holding the highest professional qualifications the Shipping and Ports industries currently examine for, and with decades of senior management experience running ports and shipping companies, we'd like to offer you some advice in your new role. We suggest you start by appointing a reputable Marine Civil Engineering Consultancy to carry out a cost analysis of the Karanja Port construction work completed to date and then, after pouring yourself a very large brandy, compare the figure with the circa £160m carrying value that is currently in MPL's accounts for this 'asset'. After you've finished the brandy bottle and sobered up, request the Marine Civil Engineering Consultants to then conduct a forensic audit (and give a professional opinion) on every payment over £10k made to contractors since 2012 - while they're doing that, we suggest you order yourself a case of brandy for when you read their report." To date we are yet to receive a reply ..... the rest as they say is history, with IPO investors now 99.8% down and most subsequent placing investors down by very similar amounts for what is a straightforward low spec real estate development. By way of comparison ITD Cementation built the World Class, much larger and vastly more complex Mumbai Terminal 4 Container Port ....located just 5km away..... in just TWO years. It went in to operation under budget and ahead of time. hTTps://www.joc.com/sites/default/files/field_feature_image/bharat-mumbai-container-terminals-bmct-jnpt-credit-indian-ministry-shipping-fit.jpg AIOHO/DYOR
ashleyjv: Just downloaded my portfolio and noticed that the Buy button for MPL has been removed
danmart2: Imagine being sucked in by the latest rise on Primary Bid and sinking your money into MPL ? I have full sympathy with the early investors, even the mid term investors. But anyone investing here since mid 2019 and especially anyone buying into the latest primary bid raise must have plenty of spare money they can afford to lose.
ashleyjv: https://uk.advfn.com/stock-market/london/mercantile-ports-logis-MPL/share-news/Mercantile-Ports-Logistics-Ltd-Result-of-Placing/85882769
wobblywilbur: Hunch - 22.93% according to MPL website.
pj 1: Either that or MPL will never receive the funds from Hunch. We've had similar to this before if my memory serves correctly?
pj 1: Hunch Ventures have indian connections. This is a part of the plan to cover up the fraud and make it look genuine imo. The 4million has probably come from MPL anyway previously allegedly off course.
pj 1: What a strange statemet from the Chairman ''The safety of our staff and stakeholders is paramount and I believe MPL will come through this a stronger entity.'' 'come through this a stronger entity' WTF?
mount teide: Economics of the Mad House ! For £2.33m of revenue per year MPL is to hand over 50% of their berth quay capacity and 33% of the port storage hardstanding developed to date to a stevedoring company handling ultra low value and revenue generating bulk cargoes! Circa £165m - Cost of port development to date Circa £90m - Bank Debt Outstanding (Capital and Interest) No Port Operator in their right mind would sign a contract handing over such a large part of the Terminal's operating infrastructure for effectively peanuts! This smacks of complete desperation - a vain attempt to keep the plates spinning and hefty salaries and expenses maintained for as long as possible from the cash remaining from the last placing - little of which, as with the IPO and other placing funds, has been used for the purpose detailed in the Admission and Placing Documentation. AIMHO/DYOR
mount teide: Major Shareholders - Insiders and II's hold 83% of the stock. 21.8% - 414,349,000 - Karanpal Singh 18.2% - 346,934,500 - M&G Investment Management Ltd. 13.2% - 251,522,790 - Schroder Investment Management Ltd. 8.96% - 170,723,310 - Miton Asset Management Ltd. 7.57% - 144,423,953 - Canaccord Genuity Wealth Ltd 5.16% - 98,351, 262 - Nikhil Prataprai Gandhi 4.99% - 95,060,603 - Legal & General Investment Management Ltd 1.73% - 33,000,000 - Allianz Global Investors GmbH (UK) 0.74% - 14,173,913 - CRUX Asset Management Ltd. 0.66% - 12,500,000 - Henderson Global Investors Ltd PI's mostly (wisely) have given it the bargepole treatment since 2014 shortly after the market was told 'construction' of its only asset had commenced - as a result of finding out - from hiring a light aircraft to fly over the 'port' under 'development' - there was no port under development whatsoever at the site, since all access to the site was blocked by a 50 metre wide fast flowing tidal creek that was not bridged until December 2015, to enable construction machinery access. However, further investigation at the time revealed that although access to the foreshore to start the land reclamation did not commence until December 2015, it did not stop management burning through circa £45m of shareholders funds and loan drawdown during the previous 21 months - according to company accounts. On lord knows what, considering this was 80% of the winning tender offer to build the entire 200 acre port development, and all the management had to show for the money was a small bridge with a £2-3 million build cost, on a dirt track access approach road to the area of foreshore selected for land reclamation! One Fund Manager who continued to back the management after being given extremely strong evidence suggesting this could be foolhardy in the extreme, went on to lose a fortune investing in it for L&G. Incredibly, it's since come to light he STILL can't resist grabbing the Mercantile falling knife with his new company's funds, even after losing most of his fingers while at L&G, as a result of finding the MPL management had welded the falling knife to a two tonne anvil! Richard Penny's 2 Penny Stock _ Royal Bank Of Scotland 'This India-focused company lost Richard Penny lots of money while he was at L&G, but he's backing it in his new fund at Crux. Richard Penny’s new venture at Crux is a punchy offering, illustrated perfectly by his backing of a company that he “lost a lot of money on” while at Legal & General. The £10 million Crux UK Special Situations fund, launched on 1 October, will be run in a similar way to his L&G fund – high conviction, long term and with a decent exposure to small caps. Some of his former investments make appearance in his new venture, notably a tiny AIM-listed company called Mercantile Ports & Logistics (MPL). At £8.5 million market capitalisation, it’s a pretty punch call from Penny. “It’s not for widows and orphans,” he says, “but this is a Special Situations fund and it is in a portfolio that is diversified.” Mercantile is an India-focused logistics company, which boasts on its website of having “delivered several ground-breaking, mega infrastructure projects”. These include India’s first ever private sector port and logistics facility, the first private sector railway line and the first private expressway. Today, its operations are focused around the Karanja Port near Mumbai, which it says is a key gateway to trade for eight land-locked states in India. Going forward, it looks to identify other suitable locations to bolster its portfolio of ports and logistics facilities. But it’s had a chequered past. It floated back in October 2010 at 250p, and Penny invested in it during its early history. But its share price chart since IPO is scary viewing. Soon after beginning to build the port, the project saw hit regulatory issues, explains Penny. Those delayed the project substantially, and the share price fell dramatically. Two years ago, Mercantile raised £36 million by issuing new shares priced at just 10p. It came back to the market for more cash earlier this month, placing shares at just 2p. This round has been well backed by institutions, with the likes of Legal & General, M&G, Schroders and Miton, who combined own half of the business, continuing to back the firm. Penny says that’s given him confidence, as has the strength of the management team and board of directors. “We take assurance from that, for all that this is a minority sport, Indian assets on AIM in the UK – and it’s as contrarian as you’d like,” 'There's none so blind as those who will not see' springs to mind! AIOHO/DYOR
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