Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
06 March, 2015 05:31 IST

Source: | 06-Mar-15
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).

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
FIIs can invest up to 34% in Container Corporation - 05-Mar-2015 18:44
BEML rolls out country's biggest dump truck - 05-Mar-2015 17:45
ICICIdirect selects Tech Mahindra as techno-funda pick - 05-Mar-2015 16:35
Tele2 and HCL Technologies form strategic alliance - 05-Mar-2015 15:52
ONGC's oil production from its western offshore breaks 5 years record - 05-Mar-2015 13:07
NTPC commissions Barh Thermal Power Project - 05-Mar-2015 12:31
Tech Mahindra strengthens footprint in Vietnam - 05-Mar-2015 11:38
Aban Offshore arms redeem outstanding bonds worth Rs 13.35 bn - 05-Mar-2015 09:52
Aban Offshore arms redeem outstanding bonds worth Rs 13.35 bn - 05-Mar-2015 09:52
Axis Bank raises USD 250 mn via overseas bonds - 05-Mar-2015 09:48
Reliance Infra acquires Pipavav Defence - 05-Mar-2015 09:19
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer