REG - Mercantile Ports&Log - Update on Debt

Mercantile Ports & LogisticsAnnouncement

11/11/2025 11:00

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RNS Number : 0800H  Mercantile Ports & Logistics Ltd  11 November 2025

Mercantile Ports & Logistics Ltd

11 November 2025

 

Mercantile Ports & Logistics Limited

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

Update on Debt

 

Mercantile Ports & Logistics Limited (AIM: MPL), which operates and
continues to develop a port and logistics facility in Navi Mumbai,
Maharashtra, provides an update on the Company's dispute with its lending
consortium regarding the annulment of the previously sanctioned One-Time
Settlement.

 

The Company was disappointed to learn that it was not awarded any interim
relief in its appeal at the appellate level of the Delhi High Court and
consequently, the Company's debt has been assigned to Prudent ARC Ltd.
However, the Company can confirm that it has made a formal offer to redeem its
full outstanding debt. The Company has initiated appropriate proceedings
before the National Company Law Tribunal, Mumbai to seek directions to enable
it to repay the debt.

 

The Company continues to be thankful for the support of its major global
stakeholders.

 

 Further announcements will be made as developments unfold.

 

The Company's US based Non-Executive Director, Stefan Passantino commented, "I
along with other members of the Board remain committed to ensuring that we do
everything in our power to protect the facility that we have worked so hard to
build".

 

 

For further information, please visit www.mercpl.com
(https://www.mercpl.com/)  or contact:

  MPL                               c/o Cavendish

                                    +44 (0) 20 7220 0500
 Cavendish Capital Markets Limited  Stephen Keys

 (Nomad and Broker)                 +44 (0) 20 7220 0500

 

 

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