Member Info for FigTreeHarry

It could be any one of the following: Tata Chemicals
Coromandel international Ltd or National Fertilizers Ltd.

Leniency or a change of direction due to covid perhaps?
If you couldn’t form a LC, you would immediatelly have rescheduled for early Jan?
Updating the court is expected every 2 weeks or every month?

As we know, MPL is engaged with a number of significant potential customers from a variety of sectors and with government agencies regarding taking capacity at the facility.

Another contract announcement still awaiting, could include one of India’s largest fertilizer companies. MPL have an MOU with them.

If you are owed £200m and have a meeting call you turn up always

- It’s in your diary in - BOLD

It is exactly that Mark, a poor tactic.
All interest and fees should be “frozen” by Cayman court.
In the interim period.

Play fair JOLS

So what does this mean?

At the Meeting, the JOLs only received one nomination to participate in the LC. Hence, the JOLs did not receive sufficient nominations for an LC to be constituted and as such an LC will not be formed at this time. The JOLs will report the outcome of the Meeting directly to the Grand Court of the Cayman Islands.

Another hearing at the Grand Court?
Delay means unnecessary intentional interest
Jols fees go up
Who turned up on call?
Is there more to it?

Corporate Update

Please be advised that the first meeting of the Company's creditors and contributories (the "Meeting") was held on Thursday 17 December 2020 at 9:00am (Cayman Islands time).

In accordance with Order 8 Rule 2 of the Companies Winding Up Rules (2018) ("CWR"), the primary purpose of the Meeting was for the Joint Official Liquidators ("JOLs") to facilitate the establishment of a Liquidation Committee ("LC"), should the Company's creditors and contributories desire that an LC be formed. In accordance with the CWR, the LC of an entity determined to be of doubtful solvency shall comprise not less than three nor more than six members, of whom a majority shall be creditors and at least one of whom shall be a contributory.

The role of an LC is to, amongst other things:

a) act as a sounding board for the JOLs in determining how the liquidation should proceed; and

b) approve the JOLs' fees.

At the Meeting, the JOLs only received one nomination to participate in the LC. Hence, the JOLs did not receive sufficient nominations for an LC to be constituted and as such an LC will not be formed at this time. The JOLs will report the outcome of the Meeting directly to the Grand Court of the Cayman Islands.

At this time, the outcome and timeline of the joint official liquidation of the Company, will be subject to the actions of, and the realisation of assets by the Receivers of Greka Gas China Ltd.

Should you have any queries, please do not hesitate to contact my colleague, Rebecca Rohan, via email at rrohan@alvarezandmarsal.com.

Yours faithfully,

Alexander Lawson

Joint Official Liquidator

LOLS...

Try this site TILS

https://uk.investing.com/equities/skil-ports---logistics-ltd-historical-data

Actually I was surprised to see that single alrge trade also. I have had trouble buying electronically, it may have been a day order? Or via MM over the phone.

Must be a good friend. Hold onto him.
Last piece of news (other than all Director buys..) was in October now. Corporate and new lon term contract news is imminent.

On the other side of things India has approved AZ vaccine:
https://www.reuters.com/article/us-health-coronavirus-india-vaccine-idUSKBN2962CN

Tils39,
Thank you. Polite, apt, and to the point.
(Noticed a large after hr trade at 38p 8258,416)

Too risky for me, tried to get my head round bitcoins, mining...it’s a punt.
If you’re and rolling great. Have an exit just in case.

Marky,
Bpc should make you smile, i’m not invested, at least some positive news for you.
Question if you had lost money on a stock say 4yrs ago, would you still go on a BB everyday/ all day for 4years warning people that a co is terrible?
Why do some folks do that?
Are they in such a rut that they can’t get over it.
Surely you have to draw a line and say ok I messed up, time to move on and forward?
I don’t understand the mentality here of clinging on to the past.
Anyone have a rational answer?

Perhaps a polite request reporting + presentations where investors can all dial in?
Like companies do these days.

I guess proaxctive investor have not contacted them.

Enquiries:

MPL

Jay Mehta
C/O Newgate Communications
+44 (0)20 3757 6880

Cenkos Securities plc
Stephen Keys/Russell Cook
+44 (0)20 7397 8900

Newgate Communications (Financial PR)
Adam Lloyd
+44 (0)20 3757 6880

https://www.mstcindia.co.in/mstc_static_pages/frontpage/publication/THE%20ECONOMIC%20TIMES-MUMBAI-12.03.2019.pdf

India economics publication - but covid lockdowns happened suddenly.

Article
Hunch Ventures Looks to Invest `. 175 cr This Year. $25M
Vatsala.Gaur@timesgroup.com

Mumbai: Venture capital fund Hunch
Ventures is looking to spend $25 million (`175 crore) this year — an investment that includes its latest investment of £8.3 million (`75 crore) in Karanja Port, which is managed by Mercantile Ports and Logistics.
The fund, that helped the US-based food chain Wendy's and fine-dining chain Ja- mie's Italian scale up in India by partne- ring with the franchisees that own them, wants to now invest more in the logistics space which includes investing in more ports, warehousing complexes as well as food processing units.
Set to open five (Wendy's) per month from next year from the current rate of opening two sites, Karanpal Singh, foun- der of Hunch Ventures said that in the domainof foodstartups,“ithasbittenoff more than it can chew.”
Going forward, storage, food proces- sing and infrastructure will draw the fund's interest. “We have taken a strategic position in the company (Karanja Port). We want to grow this from west coast to east coast, build more ports and connect in between the warehousing complexes and logistic networks. That’s our plan for the business,” Singh said.
Another pharma startup that it holds 40% stake in — My Healthcare — is set to raise funds via a second round

Morning IKN,
I’m still up, was listening to the Georgia Senate results.
Dems have majority is reports are correct. First time since Clinton first term.
Trump must be legging it now:))

The 4 major nearby Govt projects have to built using basic materials correct using the port access for deliveries.
You have the companies building the projects and additional industrial companies who maybe involved. So far TATA/ DAIWOO Trans harbour link bridge joint venture announced. With 2 more to be announced and a pipline of interested parties. I think one of the big corporate companies which maybe involved in 1-3 infrastructure projects may take a % stake in MPL, or get involved in a bigger scale. 25 acre of land is given to TATA/DAIWOO JV for their project, a link adds multiples to the actual asset. Might be worth looking at their websites for news on project.

Found it, but also always better reading this report 2nd time round, makes more sense to me what is going on in the surrounding region and why commodities need to be hauled for the major projects.

TURN TO PAGE 14
- This is worth definatley wrthreading
MPL. current valuation = £5m versus
MPL. NAV = £167m

Lease extended from 30 to 50 years
New CFO expected very soon

• Additional 200 acres allotted (i.e. 400 total)
• Strong support from local, regional and national government
• Karanja Terminal facilitates regions economic growth strategy

STRATEGIC REPORT
• Board strengthened with Jeremy Warner Allen appointment as Group Chairman on 16 January 2020 as the Company’s operational activity increases.

Financial Highlights
• Net Asset Value £167 Million
• Debt-to-equity ratio 0.58

Executive summary states:
Handled steel for “Accelor Mittal’. <<<

-Contracts in place with 3 industrial customers - minimum cargo
-Healthy business pipeline with several additional agreements being negotiated

It does not reveal “2nd and 3rd by name”, but states Accelor Mittal are testing
Covid happened, but there is a clue in there.

Materials such as Steel, cement, coils, bars, etc are all needed for nearby India Govt backed infrastructure projects, all revenue builders for Karanjah Port/ MPL.

industrial $bnGovt projects will commence: US$2.7bn Mumbai Trans Harbour Link, US$2.5bn Navi Mumbai Airport,
JNPT’s US$1.3bn Fourth Terminal
Navi Mumbai Digital City,

RNS news could reveal these big contracts with industrials MPL. Which have been in negotiations for a while now. Is that why Directors are buying?

Morning Tils,
Please look into 2019 annual report on mercentile website:
https://www.mercpl.com/upload/files/financial-reports/MPL%20Annual%20Report%20Dec%202019.pdf

During the period, we were in advanced negotiations with a number of large, well established industrial businesses based in our region to handle products such as steel coils and bars, cement, fly ash, fertiliser, bentonite, edible oils, base oils and bitumen amongst others. We are also discussing setting up various warehouse zones across our facility.

Page 9
Operational trials had previously been carried out by the Group itself and, before the end of 2018, the Facility handled cargo for immediate onward transportation “for one of India’s most prominent steel manufacturers on a trial basis”, this trial continued in the first half of 2019 when we received our first test revenues. The Directors consider the Facility to be well-aligned. with Indian government policy. In addition, the Directors believe that the Facility is ideally situated to benefit from some of the significant infrastructure projects that are taking place near the site. In particular, projects that have commenced or are proposed include:
-US$2.7bn Mumbai Trans Harbour Link
-US$2.5bn Navi Mumbai Airport
-JNPT’s US$1.3bn Fourth Terminal
-Navi Mumbai Digital City,

which is expected to attract significant investment. Each of these projects will require enormous quantities of steel, cement and other materials, and the Directors expect the Facility to play a major part in the logistics for the construction of some or all of these projects.

I definatley read Accelor Mittal somewhere, trying to find my source, will get back to you...Fig.