REG - Mercantile Ports&Log - Update on Debt

Mercantile Ports & LogisticsAnnouncement

19/11/2025 07:00

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RNS Number : 0748I  Mercantile Ports & Logistics Ltd  19 November 2025

Mercantile Ports & Logistics Limited

 

("MPL" or the "Company")

 

Update on Debt

 

Mercantile Ports & Logistics Limited (AIM: MPL), which is operating and
continuing to develop a port and logistics facility in Navi Mumbai,
Maharashtra, India, provides a further update on the Company's debt position.

 

As announced on 11 November, 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 had been assigned to
Prudent ARC Ltd. The Company confirmed that it had made a formal offer to
redeem its outstanding debt in full and the Company initiated appropriate
proceedings before the National Company Law Tribunal, Mumbai to seek
directions to enable it to repay the debt. One of the consequences of
rejection of the Company's One Time Settlement is that an insolvency petition
in relation to the existing debt has been admitted and a resolution
professional has been appointed to the companies operating subsidiary, KTPL.
This does not change the previously announced position with the Company
remaining in discussions with relevant parties regarding the repayment of the
company debt in full.

 

The Company continues to enjoy the support of its major global stakeholders.

 

 Further announcements will be made as developments unfold.

 

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

 

 MPL                                c/o Cavendish

                                    +44 (0) 207 220 0500
 Cavendish Capital Markets Limited  Stephen Keys

 (Nomad and Broker)                 +44 (0) 207 220 0500

 

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