General Announcement::Sale of Vessel

Issuer & Securities

Issuer/ Manager
MERCATOR LIMITED
Securities
MERCATOR US$16M4.75%CB190527 - XS1072432161 - 3R0B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
20-Mar-2018 21:54:54
Status
New
Announcement Sub Title
Sale of Vessel
Announcement Reference
SG180320OTHR66SB
Submitted By (Co./ Ind. Name)
Suhas Pawar
Designation
Company Secretary
Effective Date and Time of the event
20/03/2018 17:00:00
Description (Please provide a detailed description of the event in the box below)
This is to inform you that the Company has entered into a Memorandum of Agreement with M/s. Best Oasis Limited, Hong Kong to sell its vessel M. V. Vrinda for a total consideration of USD 4.25 Million. The transaction is expected to be completed by April 6, 2018, subject to necessary approvals.

Proceeds of the sale would be used to repay debts of the Company.

The buyer does not belong to promoter/ promoters group/ group companies.

The aforesaid transaction does not fall within the definition of related party transactions and not a material related party transaction.

This is for your information and record.

Attachments

SGX_Sale of Vessel.pdf
Total size =43K