Mercator informs about outcome of QIP committee meeting

12 Jan 2017

Mercator has informed that subsequent to the approval accorded by the Board of Directors of the Company, at its meeting held on May 27, 2016 and the approval of the shareholders of the Company by way of a special resolution dated July 30, 2016 for the QIP, the QIP Committee of the Company on January 11, 2017 has authorizing the opening of the QIP on January 11, 2017; Approving the preliminary placement document dated January 11, 2017 in connection with the QIP, (the Preliminary Placement Document1); and Approval of the floor price for the QIP. Further, the Relevant Date for this purpose, in terms of Regulation 81(c) (i) of the SEBI ICDR Regulations, is January 11, 2017 and accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed under Regulation 85(1) of the SEBI ICDR Regulations is Rs 42.80 per Equity Share. Pursuant to Regulation 85 of the SEBI ICDR Regulations, and further to the shareholder resolution dated July 30, 2016, the Company may offer a discount of not more than 5% on the floor price so calculated for the QIP.

The above information is a part of company’s filings submitted to BSE.

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