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
01 February, 2015 09:36 IST

Source: | 01-Feb-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
Whirlpool of India standalone quarterly earnings surge 48.42% - 30-Jan-2015 19:19
Shriram Transport Finance board elevates Lakshminarayanan as chairman - 30-Jan-2015 17:26
Tech Mahindra consolidated quarterly profit declines 20.25% - 30-Jan-2015 15:49
Binani Industries swings to profit in Oct-Dec quarter - 30-Jan-2015 15:43
NTPC standalone quarterly net climbs 7.43% - 30-Jan-2015 15:38
Kirloskar Brothers swings to loss in Oct-Dec quarter - 30-Jan-2015 15:35
Adani Enterprises consolidated quarterly profit soars 6.51 times - 30-Jan-2015 15:30
JSW Steel consolidated quarterly profit drops 29.49% - 30-Jan-2015 15:25
Monsanto India standalone quarterly net drops 25.76% - 30-Jan-2015 15:20
Dabur India consolidated Q3 profit climbs 16.5% - 30-Jan-2015 14:55
Siemens Q1 profit surges to Rs 6.34 bn - 30-Jan-2015 14:47
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