General Announcement::Disclosure under regulations 30 of the SEBI LODR

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
07-Dec-2017 23:55:18
Status
New
Announcement Sub Title
Disclosure under regulations 30 of the SEBI LODR
Announcement Reference
SG171207OTHRASHS
Submitted By (Co./ Ind. Name)
Suhas Pawar
Designation
Company Secretary
Effective Date and Time of the event
07/12/2017 17:00:00
Description (Please provide a detailed description of the event in the box below)
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended, this is to inform you that:

(a) The senior management of our step down subsidiaries in Indonesia (the Indonesian Entities ) has been changed by our Company which has led to temporary disruption of our operations in Indonesia; and
(b) Certain proceedings have been filed by the Company in Singapore and Indonesia against some of the aforementioned erstwhile senior management of the Indonesian Entities who have in turn initiated various proceedings against some of our step down subsidiaries and some of our executives. The said litigations are presently sub judice at various forums;
(c) Disruption of our operations in Indonesia has led to non-receipt of limited review reports from the aforementioned Indonesian Entities which has in turn delayed the filing of our consolidated limited review report for the quarter ended September 30, 2017. The Company has already taken steps to resolve this delayed filing on priority.

Our Company has already initiated steps to resume the operations of the aforementioned Indonesian Entities to ensure smooth operations at the earliest possible.

The Company shall keep the Stock Exchanges informed of any further development in the matter.

Attachments

SGX Issue.pdf
Total size =59K