Back in 2016/ 1729 Jul 2020 15:41
They raised millions to build the port , there is value there , plus all the cash they have .
On 31 October 2016, Mercantile Ports and Logistics announced that, as part of a fundraising to raise up to £37.6 million, the Company entered into a subscription agreement with, amongst others, Mr. Nikhil Gandhi and SKIL Global Ports & Logistics Limited (an investment vehicle ultimately owned beneficially by Mr. Gandhi).
Pursuant to this agreement Mr. Gandhi agreed to subscribe (either in his personal capacity or via SKIL Global and/or an affiliate) for 30,000,000 ordinary shares in the Company at 10p per share ("the Subscription Shares"); this being equal to an aggregate subscription amount of £3.0 million (the "Subscription Amount").