Mercator Lines

YEAR                                                   EVENTS
 1983 - The Company was Incorporated on 24th November, as a private
              limited company and was converted into a public limited
 company
              on 3rd April 1984.  The company's object is Owning and
 Operating
              ships.  Initially it was promoted by T.V. Ramachandran
 and the
              entire shareholding was acquired by Mr. H.K. Mittal and
 Smt.
              Archana Mittal.
 
            - A mini bulk carrier M.V. Sundari of 900 DWT was acquired
 in 1984
              to ply on the Indian coast with the shipping Development
 Fund
              Committee Loan assistance.  Over a period of 7-8 years,
 the
              company acquired further 3 more vessels for operations. 
 At 
              present there are 4 vessels which includes 2 tankers and
 2 cargo
              cum bulk carrier.
 
 1993 - During the year under review the company has acquired an oil
 tanker of capacity of
             1000 dwt which has been successfully put into operation
 during January.
 
           - The company proposes to make a public issue of 3342500
 equity shares of Rs. 10/- each
              at a premium of Rs. 10/- each, aggregating to Rs. 668.50
 lakhs.  The company proposes to
              tap the primary capital market in the month of
 October/Novemeber.
 
 1994 - 16,65,620 No. of equity shares of Rs.10 each issued and of
 these
              16,57,500 No. of equity shares were subscribed and paid
 up of 
              these 8,40,000 shares were issued as bonus shares. 
 33,42,500 
              No. of equity shares of Rs.10 each were then issued at a
 prem. of
              Rs.10 each as follows:
 
            - (i) 80,000 shares to promoters.
 
            - (ii) 8,00,000 shares to NRIs on repatriation basis (only
 4,15,000
              shares taken up.
 
            - (iii) 3,00,000 shares to Indian Mutual Funds (only
 1,50,000 
               shares taken up).
 
           - Balance 21,62,500 shares along with 3,85,000 shares not
 taken up
              by NRIs and Mutual Funds (1,50,000 shares) were issued
 to the 
              public (all were taken up).
 
           - The Company has made its maiden Public issue of 33,42,500
 No. of Equity Shares of
              Rs 10/- each at a premium of Rs 10/- each and the basis
 of allotment was finalised in
              consultation with the Bombay Stock Exchange.
 
           - The Company has undertaken a major expansion drive to add
 9 tanker vessels during
              the current year at an aggregate cost of Rs 13 Crores.
 
 1996 - During the year the Company acquired and commenced the
 operation
             of one mini tanker taking the number of own fleet to
 eleven.  The
             Power Station of BSES at Dahanu.
 
          - The Company had drawn an expansion programme to acquire
 four 
             barges to cope-up with the additional requirements
 arising out of
             the contract executed with BSES Ltd., for lighterage
 activities
             at Thermal Power Station at Dahanu.  The Company also
 decided to
             acquire one super speciality tanker for carrying acids.
 
 1997 - The Company undertook to acquire second hand bulk cum cargo 
              carrier of size about 400 DWT for plying between the
 West Coast
              of India, the Gulf for carriage of general cargo and
 bulk cargo.
 
            - The company has drawn an expansion programme to acquire
 four barges to
               cope-up with the additional requirements arising out of
 the contract executed with
               BSES Ltd., for lighterage activities at its Thermal
 Power station at Dahanu.
 
             - Dr. S.S. Vaman resigned from the Board with effect from
 1st August and as a consequence
               also ceased to be Executive Director.
 
 1998 - The Company has won a contract with M/s. Indian Oil
 Corporation Ltd. against stiff
               competition, for transportation of bulk petroleum
 products on the East Coast.
 
 1999 - During the year under review, the Company acquired one second
 hand tanker vessel of
              9755 DWT.  During the year, the Company also acquired
 one tug and four lash barges through
              its internal accruals only.
 
            - The Company has developed strong fundamentals which has
 created good image and
               trust among the customers of the Company.
 
 2000 - The Company has signed an agreement with CDSL and NSDL for
              dematerialisation.
 
 2003
 
 -Global Trust Bank (GTB) divests its holding of 5 per cent in the
 company
 
 -Mercator Lines acquires one second hand aframax tanker of 94706
 M/tons Dead Weight Tonnage (DWT) under second phase of its expansion
 program.
 
 2004
 
 -Mercator Lines divests four per cent stake to Canara Bank & Bank of
 India
 
 -Bags  mn contract from M/s BG Exploration & Production for
 charter hire of a vessel for a period of 5 years
 
 -Mercator Lines has bagged MRPL's contract to transport six million
 tonne of crude on a world scale 2004 of 129.
 
 -The Singapore-based Indiaman Funds (Mauritius) has picked up a stake
 of around five per cent in the Mercator Lines at Rs 275 per share
 
 2005
 
 -Mercator Lines gets listed on NSE with effect from June 20, 2005
 onwards.
 
 -Mercator Lines signs MOA for rights of operating on Geared Panamax
 vessels
 
 2006
 
 -Mercator Lines Limited has informed that Mr. Nilesh Jain, an
 Associate member of Institute of Company Secretaries of India, has
 been appointed as Company Secretary and Compliance Officer of the
 Company.