Announcement • May 14
Mercantile Ports & Logistics Limited Announces Board Changes Mercantile Ports & Logistics Limited announced the appointment of Marty Martin to the Board of Directors of MPL, subject to completion of the customary regulatory processes. Marty Martin is a former senior United States intelligence and national security official with an extensive career spanning approximately three decades in the U.S. intelligence community, including the Central Intelligence Agency (CIA), U.S. Army Special Forces, and broader national security operations. Mr. Martin served as a Senior Intelligence Service Executive within the CIA and held multiple senior operational and leadership positions globally. During his career, Mr. Martin worked under four U.S. Presidents and played a significant role in some of the most sensitive national security and counterterrorism operations undertaken by the United States following the events of September 11, 2001. He was involved in leading elements of the CIA's global operations and held senior operational leadership roles across the Middle East and other strategically important regions. Mr. Martin also served as Chief of Station for the CIA's Near East Division between 2004 and 2007, overseeing significant operational activity and large-scale strategic programmes during a critical period for U.S. foreign policy and national security operations. His background provides the Company with deep expertise in international strategic affairs, geopolitical risk assessment, and global stakeholder engagement. At the same time, the Company announced that Karanpal Singh has informed the Board that he wishes to step down from the Board of Directors, with Hunch's interests continuing to be represented on the Board by Amit Dutta. New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (60% average weekly change). Earnings have declined by 38% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (UK£7.48m market cap, or US$10.1m). Buy Or Sell Opportunity • Apr 17
Now 21% undervalued Over the last 90 days, the stock has risen 236% to UK£0.021. The fair value is estimated to be UK£0.026, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 53%. 
