Mercator Lines allots 365562 equity shares on conversion of FCCBs: related news

Mercator Lines allots 365562 equity shares on conversion of FCCBs

Mercator Lines Ltd has announced that the Committee of Board of Directors of the Company at its meeting held on April 29, 2008, inter alia, has approved allotment of 3,65,562 equity shares of Re 1/- each in lieu of surrender of Foreign Currency Convertible Bonds (FCCB's) aggregating USD 500,000/- from bond holders; at a conversion price of Rs 59/812. Consequently, the paid up capital of the Company has increased to 23,52,60,949 equity shares of Re 1/- each. With this conversion, now there are 800 FCCB's outstanding of aggregate amount of USD 8,000,000/-.

Mercator Lines Allots Shares Upon Conversion Of FCCBs

(RTTNews) - Tuesday, Mercator Lines said that it allotted 3,65,562 equity shares of Re.1 each upon conversion of foreign currency convertible bonds totaling $500,000 at a conversion price of Rs.59.812 a share.

Mercator Transport Group Corporation announces that its shares are now eligible for coverage obligations under the Quebec SME Growth Stock Plan

LAVAL, QC, May 26 /CNW Telbec/ - Mercator Transport Group Corporation ("Mercator") (TSX-V : GMT), is pleased to announce that it has received an advance tax ruling from Le Ministère du Revenu du Québec confirming the eligibility of its shares under the Quebec SME Growth Stock Plan. Mercator's shares have also been added to the list of eligible shares maintained by the Autorité des Marcheés Financiers.

Mercator Transport Group Corporation announces that its shares are now eligible for coverage obligations under the Quebec SME Growth Stock Plan

LAVAL, QC, May 26 /CNW Telbec/ - Mercator Transport Group Corporation ("Mercator") (TSX-V : GMT), is pleased to announce that it has received an advance tax ruling from Le Ministère du Revenu du Québec confirming the eligibility of its shares under the Quebec SME Growth Stock Plan. Mercator's shares have also been added to the list of eligible shares maintained by the Autorité des Marcheés Financiers.

Mercator Lines Singapore hits 5-month high on $320 million contract from Tata

Shares of Mercator Lines Singapore, a unit of India's Mercator Lines, soared to a five-month high on Wednesday after the bulk shipper secured a $320 million contract from Indian conglomerate Tata Group.

ORA Changes EPS Estimate of MERCATOR LINES LIMITED: Current Recommendation is Outperformer

Company: MERCATOR LINES LIMITED Report Headline: "B&K: Mercator Lines - 4QFY08 Results Update" Report Date: May 21, 2008 Current FY EPS Estimate [FY2009]: 16.60 Previous EPS Estimate for Current FY [FY2009]: 13.40 Current Quarter EPS Estimate [Q1]: N/A Previous EPS Estimate for Current Quarter [Q1]: N/A Next FY EPS Estimate [FY2010]: 20.10 Previous EPS Estimate for Next FY [FY2010]: 15.70 Current Recommendation: OUTPERFORMER Research Firm: ORA Analyst: CHETAN KAPOOR RESEARCH ANALYST Industry: TRANSP/SEATRAN Estimates reported in INR

Mercator expanding fleet

The Indian shipping company Mercator Lines has drawn up a Rs 4,000 crore capital expenditure programme for the next two years to expand its fleet of ships to cash in on the growing dry bulk market and consolidate its presence in high-growth markets. The investments will be made by Mercator Lines and its Singapore subsidiary, sources close to the company said. A mix of equity and debt will be used to raise the proposed investment.

Mercator Closes US$42 million Silver Sale Transaction with Silver Wheaton

VANCOUVER, June 12 /CNW/ - Mercator Minerals Ltd. ("Mercator") is pleased to announce today that its wholly-owned affiliate has closed the previously announced agreement with an affiliate ("Silver Wheaton") of Silver Wheaton Corp. for the sale of the life-of-mine silver production from Mercator's Mineral Park copper/molybdenum mine in Arizona. Under the agreement, Silver Wheaton's affiliate has made an up-front payment of US$42 million in cash to Mercator's affiliate. Upon delivery of the silver, Silver Wheaton's affiliate will then also pay Mercator's affiliate in cash the lesser of the silver spot price or US$3.90 per ounce of silver (escalated by 1% per annum starting in the fourth year of silver production).

Mercator Closes US$42 million Silver Sale Transaction with Silver Wheaton

VANCOUVER, June 12 /CNW/ - Mercator Minerals Ltd. ("Mercator") is pleased to announce today that its wholly-owned affiliate has closed the previously announced agreement with an affiliate ("Silver Wheaton") of Silver Wheaton Corp. for the sale of the life-of-mine silver production from Mercator's Mineral Park copper/molybdenum mine in Arizona. Under the agreement, Silver Wheaton's affiliate has made an up-front payment of US$42 million in cash to Mercator's affiliate. Upon delivery of the silver, Silver Wheaton's affiliate will then also pay Mercator's affiliate in cash the lesser of the silver spot price or US$3.90 per ounce of silver (escalated by 1% per annum starting in the fourth year of silver production).

Mercator Closes US$42 million Silver Sale Transaction with Silver Wheaton

VANCOUVER, June 12 /PRNewswire-FirstCall/ - Mercator Minerals Ltd. ("Mercator") is pleased to announce today that its wholly-owned affiliate has closed the previously announced agreement with an affiliate ("Silver Wheaton") of Silver Wheaton Corp. for the sale of the life-of-mine silver production from Mercator's Mineral Park copper/molybdenum mine in Arizona. Under the agreement, Silver Wheaton's affiliate has made an up-front payment of US$42 million in cash to Mercator's affiliate. Upon delivery of the silver, Silver Wheaton's affiliate will then also pay Mercator's affiliate in cash the lesser of the silver spot price or US$3.90 per ounce of silver (escalated by 1% per annum starting in the fourth year of silver production).

Mercator Closes US$42 million Silver Sale Transaction with Silver Wheaton

VANCOUVER, June 12 /PRNewswire-FirstCall/ - Mercator Minerals Ltd. ("Mercator") is pleased to announce today that its wholly-owned affiliate has closed the previously announced agreement with an affiliate ("Silver Wheaton") of Silver Wheaton Corp. for the sale of the life-of-mine silver production from Mercator's Mineral Park copper/molybdenum mine in Arizona. Under the agreement, Silver Wheaton's affiliate has made an up-front payment of US$42 million in cash to Mercator's affiliate. Upon delivery of the silver, Silver Wheaton's affiliate will then also pay Mercator's affiliate in cash the lesser of the silver spot price or US$3.90 per ounce of silver (escalated by 1% per annum starting in the fourth year of silver production).

Mercator Closes US$42 million Silver Sale Transaction with Silver Wheaton

VANCOUVER, June 12 /PRNewswire-FirstCall/ - Mercator Minerals Ltd. ("Mercator") is pleased to announce today that its wholly-owned affiliate has closed the previously announced agreement with an affiliate ("Silver Wheaton") of Silver Wheaton Corp. for the sale of the life-of-mine silver production from Mercator's Mineral Park copper/molybdenum mine in Arizona. Under the agreement, Silver Wheaton's affiliate has made an up-front payment of US$42 million in cash to Mercator's affiliate. Upon delivery of the silver, Silver Wheaton's affiliate will then also pay Mercator's affiliate in cash the lesser of the silver spot price or US$3.90 per ounce of silver (escalated by 1% per annum starting in the fourth year of silver production).

Mercator Closes US$42 million Silver Sale Transaction with Silver Wheaton

TRADING SYMBOL: TSX - ML VANCOUVER, June 12 /PRNewswire-FirstCall/ - Mercator Minerals Ltd. ("Mercator") is pleased to announce today that its wholly-owned affiliate has closed the previously announced agreement with an affiliate ("Silver Wheaton") of Silver Wheaton Corp. for the sale of the life-of-mine silver production from Mercator's Mineral Park copper/molybdenum mine in Arizona. Under the agreement, Silver Wheaton's affiliate has made an up-front payment of US$42 million in cash to Mercator's affiliate. Upon delivery of the silver, Silver Wheaton's affiliate will then also pay Mercator's affiliate in cash the lesser of the silver spot price or US$3.90 per ounce of silver (escalated by 1% per annum starting in the fourth year of silver production).

GPL approves conversion of USD 7.5 mn ZCB into equities

The board of directors of Glenmark Pharmaceuticals (GPL) approved conversion of zero coupon foreign currency convertible bonds (FCCBs) amounting to USD 7.5 million into 1,293,706 equity shares at a price of Rs 253.11 a share of face value Re 1 each out of USD 50 million zero coupon FCCBs issued in 2005.

Golden Predator Mines Inc. Announces Early Release of Escrow Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 14, 2008) - Golden Predator Mines Inc. (TSX:GP - News) announces that 1,538,125 common shares of the Company owned by principals of the company have been released from escrow. The shares were originally subject to escrow under a modified National Policy 46-201 escrow agreement pursuant to the requirements of the Toronto Stock Exchange, and represent the balance of the shares subject to escrow. Pursuant to the modified escrow agreement, the shares would be released from escrow if the Company's market capitalization reached $100,000,000 based on a volume weighted average trading price of the Company's common shares during the first five days of trading on the Toronto Stock Exchange. The Company and the Exchange have confirmed that the market capitalization exceeded the $100,000,000 threshold an

Mercator Lines fixes Book Closure for Dividend

Mercator Lines Ltd has announced that the Register of Members & Share Transfer Books of the Company will remain closed from July 07, 2008 to July 16, 2008 for the purpose of payment of dividend.

Mercator Lines inks USD 320 million contract

Mercator Lines Singapore Limited has announced that it signed a new 4 year contract worth USD 320 million with TATA Power Company, boosting rates to carry coal.

Mercator Lines signs US$320mn contract with Tata Power

Mercator Lines Singapore Ltd. said on Wednesday that it had signed a new four-year contract worth US$320mn with Tata Power Co. for carrying coal.

Mercator Lines signs deal to acquire double hull VLCC

Mercator Lines Limited, the second largest private shipping Company has signed a deal to acquire modern Double Hull, Very Large Crude Carrier (VLCC). The said vessel is expected to join Company’s fleet in June ’08. This will bring the fleet of VLCCs controlled by the Company to 3. The Company currently controls / operates a fleet of 29 vessels.

Mercator Lines acquires 2008 built Dredger Vessel

Mercator Lines Ltd has announced that the Company on May 23, 2008 has taken delivery of a 2008 built vessel (Dredger). This is the fourth Dredger in its fleet.

Mercator Lines inks pact to buy double hull crude carrier

Mercator Lines, the second largest private shipping company, signed a deal to acquire modern double hull, very large crude carrier (VLCC). The said vessel is expected to join company`s fleet in June 2008. This will bring the fleet of VLCCs controlled by the company to 3. The company currently controls / operates a fleet of 29 vessels.

Mercator Lines Q4 net jumps 4.52 times

Mercator Lines reported a phenomenal rise in standalone net profit for the quarter ended March 2008, helped by substantial improvement in operating efficiency, strong sales growth and lower interest cost.

Mercator Lines plans Rs 40-bn capex for next 2 years

Mercator Lines has drawn up a Rs 40-billion capital expenditure program for the next two years, reports Business Line.

Mercator Lines Board to consider dividend for 2007-2008

Mercator Lines Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 14, 2008, inter alia, to consider & approve, annual accounts of the Company for the year ended on March 31, 2008 and recommendation of dividend on Share Capital of the Company for the financial year 2007-08, if any.

HFA Holdings shares released from escrow

HFA Holdings decreased its interest in its own shares from 182,457,487 shares (39.70%) to 106,783,803 shares (23.23%) after 75,673,684 shares were released from escrow

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