Update re Loan Facility
Company granted interim protection in court while seeking stay on loan facility application.
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Mercantile Ports & Logistics (AIM: MPL), which is operating and continuing to develop a port and logistics facility in Navi Mumbai, Maharashtra, announces that, following the hearing that took place on Friday, the Hon'ble Judge today expressed that he required additional time to pass orders on the application seeking stay. The Company is pleased to confirm that, in the meantime, the Company has been granted an interim protection, with this ruling expected to be confirmed in writing shortly. The Company will continue to discuss with relevant parties in order to enforce the sanction granted to it earlier and enable the refinancing to be completed.
Further announcements will be made as the current situation develops.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.