Business
Result of Placing and Subscription
Result of Placing and Subscription.
About this update from Mercantile Ports & Logistics Limited
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT (THE \"ANNOUNCEMENT\") AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, ITS STATES, TERRITORIES AND POSSESSIONS (\"UNITED STATES\"), AUSTRALIA, CANADA, JAPAN, SINGAPORE, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.\nTHIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES.\nTHIS ANNOUNCEMENT WAS DEEMED BY THE COMPANY (DEFINED BELOW) TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\").\n9 June 2023\n\nMercantile Ports & Logistics Limited\n(\"MPL\" or the \"Company\" and, together with its subsidiaries, the \"Group\")\n \nResult of Placing and Subscription\nFurther to the announcement of 8 June 2023 regarding a proposed placing, subscription and retail offer (the \"Launch Announcement\"), Mercantile Ports & Logistics Limited (AIM: MPL) is pleased to announce that it has conditionally raised gross proceeds of approximately £8.9 million (before expenses) under the Placing and Subscription. In total, 101,949,999 Placing Shares have been conditionally placed and 195,000,000 Subscription Shares have been conditionally subscribed for, in each case at the Issue Price of 3 pence per share.\nOther than where defined, capitalised terms used in this announcement have the meanings given to them in the Launch Announcement.\nCenkos Securities is acting as agent for and on behalf of the Company in respect of the Placing. The Placing was conducted by way of an accelerated book build process.\nThe Retail Offer was launched by way of a separate announcement at 4.35 p.m. on 8 June 2023.\n \nRelated Party Transactions\n \nThe following directors of the Company (the \"Directors\") and their related parties have agreed to participate in the Equity Fundraising by subscribing for Placing Shares or Subscription Shares (as applicable) at the Issue Price:\n \n\n\n\nDirector/Related Party\n\n\nExisting beneficial sha...