Business
Result of Placing and PrimaryBid Offer
Result of Placing and PrimaryBid Offer.
About this update from Mercantile Ports & Logistics Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 3061J\n Mercantile Ports & Logistics Ltd\n 20 August 2021\n \n \n \n \n \n \n \n \n \n \n THIS ANNOUNCEMENT WAS DEEMED BY THE COMPANY TO CONTAIN INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 (\"MAR\") AS THEY FORM PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n 20\n August 2021\n \n \n \n \n \n Mercantile Ports & Logistics Limited\n \n \n (\"MPL\" or the \"Company\")\n \n \n \n \n \n Result of Placing\n \n \n \n \n \n Further to the announcement of 19 August 2021 regarding the proposed placing via accelerated bookbuild (the \"Placing Announcement\"), the Company is pleased to announce that it has successfully raised £\n 9.6\n million (before expenses) under the Placing and Subscription.\n \n \n \n \n \n Cenkos and Zeus acted as Joint Bookrunners in connection with the Placing.\n \n \n \n \n \n The PrimaryBid Offer closed for participation at 8:00 p.m. on 19 August 2021 and raised gross proceeds of £\n 0.5\n million at 0.45 pence per ordinary share via the PrimaryBid Offer. The Company will therefore issue and allot a total of \n 111,614,477\n New Ordinary Shares to satisfy the PrimaryBid Offer.\n \n \n \n \n \n The following directors and their related parties have agreed to subscribe for Placing Shares at the Issue Price:\n \n \n \n \n \n \n \n \n Director/Related Party \n \n \n \n \n Number of Placing Shares subscribed \n \n \n \n \n Value of Placing Shares subscribed\n \n \n \n \n \n \n Hunch Ventures*\n \n \n \n \n 767,622,222\n \n \n \n \n £3,454,300\n \n \n \n \n \n \n Jeremy Warner Allen\n \n \n \n \n 11,111,111\n \n \n \n \n £50,000 \n \n \n \n \n \n \n Howard Flight\n \n \n \n \n 8,888,889\n \n \n \n \n £40,000 \n \n \n \n \n \n \n Jay Mehta\n \n \n \n \n 11,111,111\n \n \n \n \n £50,000 \n \n \n \n \n \n \n John Fitzgerald\n \n \n \n \n 5,555,555\n \n \n \n \n £25,000 \n \n \n \n \n \n \n TOTAL\n \n \n \n \n 804,288,888\n \n \n \n \n £3,619,300\n \n \n \n \n \n \n \n \n *Hunch Ventures is controlled by Karanpal Singh, Non-Executive Director, and now holds a 29.0 percent interest in the Company.\n \n \n The Company will issue ...