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
28 August, 2015 07:40 IST

Source: | 28-Aug-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
IDBI Bank inks MoU with NHB for credit linked interest subsidy scheme - 27-Aug-2015 18:42
TI Cycles acquires licensing rights for Ridley Bikes - 27-Aug-2015 18:21
TTK Prestige signs long-term settlement with workers' union - 27-Aug-2015 17:23
Govt to infuse Rs 24.55 bn into Bank of India - 27-Aug-2015 17:00
Muthoot Finance opens branches in Srinagar - 27-Aug-2015 16:32
Lupin receives USFDA approval for Generic Prilosec capsules - 27-Aug-2015 16:28
IL&FS IM to acquire 86.61% stake in IL&FS Infra & 100% stake in IL&FS AMC - 27-Aug-2015 15:40
RComm partners with Jasper to deliver IoT services - 27-Aug-2015 13:13
Aurobindo Pharma receives USFDA nod for Entecavir tablets - 27-Aug-2015 12:47
APM Terminals, NYK Auto Logistics commences operations of RORO yard - 27-Aug-2015 12:33
Tata Steel's Llanwern mill temporarily out of production; focus on higher-value markets - 27-Aug-2015 11:59
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