Update

Summary by AI ^BETAClose X

Mercantile Ports & Logistics Limited (MPL) is actively pursuing legal remedies to protect its wholly owned asset, Karanja Terminal & Logistics Pvt. Ltd., and has secured interim protection from the Insolvency Appellate Tribunal, preventing third-party expressions of interest. The company has formally offered to redeem the full outstanding debt, which it is contesting after its assignment to Prudent ARC, and Prudent ARC has appealed this interim order to the Supreme Court of India, with a hearing scheduled for December 18, 2025. MPL remains confident in its legal standing and commitment to defending shareholder value.

Disclaimer*

Mercantile Ports & Logistics Ltd

17 December 2025

Mercantile Ports & Logistics Limited

("MPL" or the "Company")

Update

Mercantile Ports & Logistics Limited (AIM: MPL), which is operating and continuing to develop a port and logistics facility in Navi Mumbai, Maharashtra, India, provides an update on the legal position and confirms that it continues to pursue vigorously all legal remedies to safeguard its wholly owned strategic asset, Karanja Terminal & Logistics Pvt. Ltd. ("KTPL"), located in Navi Mumbai, India.

The Company recently secured interim protection from the Insolvency Appellate Tribunal, which restrains the solicitation of expressions of interest from third parties, thereby preserving the status quo while legal proceedings are ongoing.

MPL has also formally offered to redeem the full outstanding debt relating to the asset, exercising its lawful right to settlement. The debt had previously been assigned to Prudent ARC, a transaction which MPL is contesting and which forms part of ongoing legal proceedings.

Prudent ARC has since appealed against the interim order to the Supreme Court of India. The matter is scheduled to be heard on Thursday, 18 December 2025.

MPL remains confident in the strength of its legal position and is committed to defending shareholder value while ensuring that due process is followed.

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

Commenting on the development, Pav Bakhshi, Managing Director of Mercantile Ports & Logistics, said:

"We have made a credible and lawful offer to redeem the outstanding debt in full. Karanja is a strategic infrastructure asset that rightfully belongs to MPL, and we will continue to pursue all legal avenues to protect the Company's interests and those of its shareholders."

Further announcements will be made as developments unfold.

For further information, please visit www.mercpl.com or contact:

MPL

c/o Cavendish

+44 (0) 207 220 0500

Cavendish Capital Markets Limited

(Nomad and Broker)

Stephen Keys

+44 (0) 207 220 0500

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END