The Board of Directors of Mercator Ltd at its meeting held on December 5, 2019 has approved the strategic sale of Participating Interest (PI) in the Oil Block CB-ONN-205/9 (CB-9) of Mercator Petroleum Limited, a material subsidiary of the Company. The above sale is subject to approval of specified lenders, shareholders of the Company and further regulatory approval(s) as may be applicable.
The board also approved conducting of Postal Ballot to seek shareholders' approval for Strategic Sale of Participating Interest (PI) in the Oil Block CB-ONN-205/9 (CB-9) of Mercator Petroleum Limited, a material subsidiary of the Company.
Shares of MERCATOR LTD. was last trading in BSE at Rs.1.03 as compared to the previous close of Rs. 1.05. The total number of shares traded during the day was 19963 in over 24 trades.
The stock hit an intraday high of Rs. 1.05 and intraday low of 1. The net turnover during the day was Rs. 20187.