Business
Result of Retail Offer
Result of Retail Offer.
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ANNOUNCEMENT (THE \"ANNOUNCEMENT\") AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, ITS STATES, TERRITORIES AND POSSESSIONS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\").\n \n13 June 2023\n \n\nMercantile Ports & Logistics Limited\n(\"MPL\" or the \"Company\" and, together with its subsidiaries, the \"Group\")\n \nResult of Retail Offer\nFurther to the announcement by the Company in respect of the Retail Offer dated 8 June 2023 (the \"Retail Offer Announcement\"), Mercantile Ports & Logistics Limited (AIM: MPL), which is operating and continuing to develop a port and logistics facility in Navi Mumbai, Maharashtra, India, is pleased to announce that, following the closing of the Retail Offer on the BookBuild platform on 12 June 2023, 4,529,661 Retail Shares will be issued at the Issue Price of 3 pence per share in connection with the Retail Offer.\nOther than where defined, capitalised terms used in this Announcement have the meanings given to them in the Retail Offer Announcement.\nConsequently, 101,949,999 Placing Shares, 195,000,000 Subscription Shares and 4,529,661 Retail Shares resulting in a total of 301,479,660 New Ordinary Shares will be issued in relation to the Equity Fundraising, raising total gross proceeds of £9.04 million.\nCompletion of the Retail Offer is conditional, inter alia, upon approval of the Shareholders at the General Meeting to be held on 27 June 2023 and on Admission of the New Ordinary Shares. It is expected that Admission of the New Ordinary Shares will become effective and that dealings will commence at 8.00 a.m. on 28 June 2023.\nFollowing Admission of the Ne...