Equatorial Palm Oil PLC - AIM-listed cash shell - Raises GBP400,000 from placing of 100.0 million shares at 0.4 pence each to "enable the company to explore new corporate opportunities and to provide additional working capital". Placing is run by Brandon Hill Capital, which is appointed joint broker alongside Mirabaud Securities Ltd. Participants in placing also agree to invest a further GBP400,000 in total on the condition that the company either complete a reverse takeover or becomes an investing company by raising at least GBP6 million. Equatorial Palm Oil became a cash shell in June after completing the sale of its 50% interest in Liberian Palm Developments Ltd to Kuala Lumpur Kepong Bhd. Calls general meeting for September 8 for shareholder approval.
Current stock price: 0.58p
Year-to-date change: down 17%
By Tom Waite; thomaslwaite@alliancenews.com
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