30 September 2021

Mercantile Ports & Logistics Limited

("MPL" or the "Company") 

Publication of Accounts

Mercantile Ports & Logistics Limited (AIM: MPL), which is developing and operating its port and logistics facility in Navi Mumbai, Maharashtra, India, refers to its announcement of 30 June 2021, which stated that, due to the COVID-19 situation in India, it had been granted an extension to the filing of its audited accounts for the period ending 31 December 2020 (the "2020 Accounts"). Whilst the 2020 Accounts are anticipated to be in line with the expectations set out in the 30 June 2021 announcement, the Company and the Company's auditors have not been able to conclude the audit by 30 September 2021. The principal outstanding matter relates to a technical issue regarding the treatment of a tax provision, which has no effect on headline numbers or on the Company's cash position.

Consequently, the Board anticipates that trading in the Company's Ordinary Shares will be suspended with effect from 7.30am on 01 October 2021, until such time as the 2020 Accounts are published, which is expected to be no later than 8 October 2021.

In addition, the Company's expects to announce its interim results for the six months ended 30 June 2021 by 31 October 2021. This publication date utilises the permitted extension of up to one month to announce half yearly reports, as per the COVID-19 guidance set out in 'Inside AIM', dated 9 June 2020.

Further announcements will be made, in due course.