Mercator has informed that the Board of Directors of the Company at its meeting held today, has approved the following: Strategic Sale of Participating Interest (PI) in the Oil Block CB-ONN-205/9 (CB-9) of Mercator Petroleum, 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; 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, a material subsidiary of the Company. The meeting of the Board of Directors commenced at 12 Noon and concluded at 2.45 pm.
The above information is a part of company’s filings submitted to BSE
