29 August, 2014 23:36 IST
News

Source: (29-Aug-14)
Comments  |  Post Comment

Mercator has announced that the company's Singapore-based step down subsidiary, Mercator Lines (Singapore), (MLS) has entered into early termination and settlement agreement with the owner of Vessel M V Maria Laura Prem (Owner) pursuant to which MLS and the owner have agreed to the early termination of the existing charter on or before Apr. 30, 2013.

The consideration for the early termination of the charter of the vessel, interalia is issues of 45,140,124 new ordinary shares in the capital MLS subject to compliance of applicable laws, regulations or listing rules of the Singapore Exchange Securities Trading.

The compensation shares will be issued at a price equivalent to the closing price for the ordinary shares on the SGX-ST on the market day, preceding the date on which the compensation shares are issued to the owners, provided that the issue price price a share shall not be less that Singapore Dollar 0.1058.

Shares of the company declined Rs 0.45, or 2.96%, to settle at Rs 14.75. The total volume of shares traded was 194,079 at the BSE (Thursday).


News
Surana Industries appoints Deloitte Haskins & Sells as statutory auditor - 29-Aug-2014 16:26
ONGC to invest Rs 52.2 bn in Daman project - 28-Aug-2014 17:26
CRISIL revise rating outlook to `Positive` on Shriram Transport - 28-Aug-2014 16:39
BHEL names AN Roy as a non-official director - 28-Aug-2014 15:49
Ind-Ra assigns Blue Dart's NCD issue 'AA(exp)' - 28-Aug-2014 15:49
HCL Tech in strategic pact with AppDynamics - 28-Aug-2014 15:38
Tata Motors enters Algeria with range of passenger cars - 28-Aug-2014 15:24
Ind-Ra assigns CEAT's fixed deposit programme 'A+' - 28-Aug-2014 15:15
Indraprastha Gas to buy 50 mn shares in MNGL for Rs 1.9 bn - 28-Aug-2014 15:15
CRISIL reaffirms `A-/Stable` ratings on Atul Auto - 28-Aug-2014 14:52
GE Shipping sells 'Jag Prachi' vessel - 28-Aug-2014 14:46
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   9z3pqd into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer