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Mercator
BSE: 526235NSE: MERCATORISIN: INE934B01028

5th-Dec-2019 14:56Source: BSE

Mercator - Outcome Of Board Meeting

This is to inform you that the Board of Directors of the Company at its meeting held today, has inter alia; approved the following:

1.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.

2.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

The meeting of the Board of Directors commenced at 12 Noon and concluded at 2.45 p.m.

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