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Friday 07 December, 2018

Mercantile Ports&Log

Board Appointments

RNS Number : 7466J
Mercantile Ports & Logistics Ltd
07 December 2018
 

7 December 2018

Mercantile Ports & Logistics Limited

("MPL" or the "Company")

 

Board Appointments

 

Mercantile Ports & Logistics Limited (AIM:MPL), is pleased to announce that, as noted in the Circular posted to Shareholders and available on the Company's website, following the completion of the Company's recent capital raising, Karanpal Singh and Jeremy Warner Allen have been appointed as Non-Executive Directors of the Company.

 

Board appointments

 

Karanpal Singh, aged 41, is an Indian based entrepreneur with extensive investments across a range of sectors including steel, iron ore, gold mining, power, transmission and a host of technology related Investments. Hunch Ventures, in which Karanpal is a founder, will become a substantial shareholder in MPL. Hunch Ventures is a leading investor in India's growth. Its investment in Karanja and scaling MPL is a key focus of Hunch Ventures.

 

Jeremey Warner Allen, aged 63, is appointed to the Board having had a successful career in the City as an adviser to growth companies across multiple sectors. As a previous adviser to MPL, he has in depth knowledge of the Company and the opportunities. With his previous background advising public companies, the Board looks forward to benefitting from his experience, particularly in matters relating to communication with shareholders.

 

Details of Karanpal Singh and Jeremy Warner Allens' directorships are set out below.

 

Commenting on the appointments, Nikhil Gandhi, Executive Chairman of MPL said, "Following the AGM today I am delighted to formally welcome Karanpal Singh and Jeremy Warner Allen to the board of MPL and the Company looks forward to benefitting from their extensive industry and financial market experience."

 

Karanpal Singh currently holds or has held the following directorships or partnerships in the past five years:

 

Current

Previous

Kamal Sponge Steel and Power Limited

Viraj Steel and Energy Private Limited

Empowertrans Private Limited

KJS Concrete Private Limited

Macro Developers Private Limited

Nameh Projects Private Limited

Nameh Hotels Private Limited

Nameh Hotels & Resorts Private Limited

Flyblade (India) Private Limited

Hunch Venture and Investment Private Limited

KJS Imperial Properties Private Limited

Nameh Properties Private Limited

Suave Ventures Private Limited

Nameh Housing Private Limited

Lifestyle & Media Holdings Limited

Indianroots Shopping Limited

Quintessentially Lifestayle Servcies (India) Private Limited

QCND Private Limited

Hunch Circle Private Limited

Hunch Raxak Inida P Ltd

Ramgarh Coal Company Private Limited

Thesgora Coal Private Limited

Essential Resources Private Limited

Shri Jagannath Steels & Power Limited

Interesting Foods Private Limited

Dynamic IT Park Developers Private Limtied

Hostra Systems Private Limited

Nameh Retreat Private Limited

Nameh Holiday Homes Private Limited

Luxfinity (India) Private Limited

Sterling Infrastructure Private Limited

 

Karanpal Singh holds a total of 414,349,000 ordinary shares in the Company, following his recent participation in the capital raising. Karanpal Singh's interest are all held indirectly through Hunch Ventures and Investment Private Limited, a company which is ultimately beneficially owned by Karanpal Singh and considered to be a person closely associated with Mr Singh.

 

Jeremey Warner Allen currently holds or has held the following directorships or partnerships in the past five years:

 

Current

Previous

OPG Power Ventures plc

Cenkos Securities plc

TP Group plc


 

Mr Warner Allen holds a total of 7,540,000 ordinary shares in the Company, following his recent participation in the capital raising.

 

There are no further disclosures to be made pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies in respect of the appointment of Karanpal Singh and Jeremy Warner Allen.

 

-ENDS-

 

MPL

C/O Newgate Communications

+44 (0) 20 3757 6880

 

Cenkos Securities plc

(Nomad and Broker)

Stephen Keys

+44 (0) 20 7397 8900

 

Newgate Communications

(Financial PR)

Adam Lloyd

Fiona Norman

+44 (0) 20 3757 6880

[email protected]

 


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 [email protected] or visit www.rns.com.
 
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