Mercantile Ports and Logistics (GB:MPL) has released an update.
Mercantile Ports & Logistics has secured a new unsecured loan and credit facility of £15 million from Hunch Ventures subsidiary, KJS Concrete Private Limited, to enhance the company’s working capital. This new arrangement replaces a previous undrawn £4.4 million loan and extends the repayment period until December 31, 2027, with an annual interest rate of 8%. The company’s independent directors, after consultation with their nominated adviser, have deemed the transaction fair and reasonable for shareholders.
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