REG - Mercantile Ports&Log - Board Change and Change of Adviser

Mercantile Ports & LogisticsAnnouncement

11/01/2022 09:35

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RNS Number : 0631Y  Mercantile Ports & Logistics Ltd  11 January 2022

11 January 2022

 

Mercantile Ports & Logistics Limited

("MPL", the "Group" or the "Company")

 

Appointment of Non-Executive Director and Change of Adviser

 

Mercantile Ports & Logistics Limited, which is operating and developing
out its port and logistics facility in Navi Mumbai, Maharashtra, India, is
pleased to announce that Amit Dutta will be joining the Board as a
Non-Executive Director with immediate effect.

Having qualified with a 1(st) Class Honors degree in Civil Engineering from
Jadavpur University and completed an MBA from Indian Institute of Management,
Mr Dutta joined Shaw Wallace & Co in 1988. From there, he spent over 11
years with Uniliver in India, rising to be head of marketing for the Tea
business, a $0.5bn division by the time that he left to join Reliance Infocom
in 2002. Since that time, Mr Dutta has had roles in companies including,
General Motors, India, and American Express, India. He founded
Quintessentially Lifestyle services, India in 2010 and joined Hunch Ventures
as Managing Partner in 2018.

Jeremy Warner Allen, Chairman of MPL commented "Since Hunch's initial
investment in MPL, we have become aware of the value that Amit can add and are
delighted that he has agreed to join the board. Hunch has been a supportive
partner and Amit joining the board is further evidence of Hunch's confidence
in the prospects of the Group."

The Company further announces that Cenkos Securities plc, will now act as
MPL's Nominated Adviser and Sole Broker.

 

Further information pursuant to Schedule Two, paragraph (g) of the AIM Rules:

Amit Dutta, aged 59, is currently or has previously been a director of the
following companies within the past five years:

 

Current Directorships

 ASTRAL TRAVELS PRIVATE LTD
 SEA SPORT MARINE PRIVATE LIMITED
 LUXURY HUES CONSULTANCY SERVICES (INDIA) PRIVATE LIMITED
 QUINTESSENTIALLY LIFESTYLE SERVICES (INDIA) PRIVATE LIMITED
 LH CONSULTING PRIVATE LIMITED
 RADIANT HUES CRM SOLUTIONS PRIVATE LIMITED
 RADIANT HUES CONSULTANCY SERVICES PRIVATE LIMITED
 TEAMONK GLOBAL FOODS PRIVATE LIMITED
 HUES LIFESTYLE SERVICES (INDIA) PRIVATE LIMITED
 FLYBLADE (INDIA) PRIVATE LIMITED

 

Past Directorships

 KISETSU SAISON FINANCE (INDIA) PRIVATE LIMITED
 LMC Forum (India) Private Limited
 Financial Hues Private Limited
 27 Hills Tea Planters Private Limited

 

There is no further information required to be disclosed pursuant to Schedule
Two, paragraph (g) of the AIM Rules for Companies.

Amit holds no shares in the Company directly but, through his position as
Partner in Hunch Ventures, has an interest in 12,044,462 Ordinary Shares.

 

Enquiries:

 

 MPL                    C/O SEC Newgate

                        +44 (0) 20 3757 6880

 Cenkos Securities plc  Stephen Keys

 (Nomad and Broker)     +44 (0) 20 7397 8900

 SEC Newgate            Elisabeth Cowell / Isabelle Smurfit

 (Financial PR)         +44 (0) 20 3757 6880

                        mpl@newgatecomms.com (mailto:mpl@newgatecomms.com)

 

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