Business
Share Placing, Open Offer and Notice of AGM
Share Placing, Open Offer and Notice of AGM.
About this update from Mercantile Ports & Logistics Limited
[{"type":"text","content":"\n \nRNS Number : 6857H Mercantile Ports & Logistics Ltd 16 November 2018 \n\nNOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, OR ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN\nMercantile Ports & Logistics Limited\n(\"MPL\", or the \"Company\")\n \nConditional fund raise to raise gross proceeds of up to approximately £27.75 million through a placing and subscription and up to approximately £2.07 million through an open offer\n \nPlacing of up to 973,151,000 New Ordinary Shares at 2 pence per share\nOpen Offer of up to 103,504,424 New Ordinary Shares at 2 pence per share\nSubscription for 414,349,000 New Ordinary Shares at 2 pence per share\nNotice of Annual General Meeting\n \n \nMercantile Ports and Logistics Limited (AIM: MPL), which is developing a modern port and logistics facility near Navi Mumbai, India, today announces an oversubscribed fund raising through a conditional Placing, Subscription and Open Offer to raise up to £29.82 million, before expenses.\nTransaction highlights:\n· Conditional fund raise to raise gross proceeds of up to £29.82 million, including:\n· £19.46 million raised from a Placing with institutional investors\n· £8.29 million raised from a Subscription by India-based strategic investor, Hunch Ventures\n· Open Offer to raise up to an additional £2.07 million from all existing Qualifying Shareholders\n· Net proceeds of the Transaction to partially substitute undrawn banking facility, pay accrued bank interest and other outstanding liabilities, along with the continued construction and completion of the Facility\n· Transaction conditional upon Shareholder approval at the Annual General Meeting to ...