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
28-Nov-2018 21:09:00
Status
New
Announcement Sub Title
Sale of Vessel
Announcement Reference
SG181128OTHRB55B
Submitted By (Co./ Ind. Name)
Sangeetha Pednekar
Designation
COmpany Secretary
Effective Date and Time of the event
28/11/2018 17:00:00
Description (Please provide a detailed description of the event in the box below)
The Company as a part of its strategic plan has sold its old vessel M. T. Vedika Prem, built 1993, for a total consideration of Rs 28.54 Crore and the proceeds of which would be used to meet its debt obligations/ liabilities. The deal was concluded today.

The buyer does not belong to Promoter/ Promoter Group Companies.

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

Attachments

SaleofVesselVedikaPrem.pdf
Total size =112K