Of Interest19 May 2020 12:13
Proposed Disposal - post period end
On 18 May 2020, the Company announced the Proposed Disposal by the Company's wholly owned subsidiary, Equatorial Biofuels (Guernsey) Limited ("Equatorial Biofuels"), of its 50 per cent. equity interest in Liberian Palm Developments Limited, the Group's operating subsidiary, to KLK Agro Plantations Pte Ltd ("KLK Agro") (a wholly owned subsidiary of KLK). In addition, the Company will novate an intragroup debt advanced by the Company to LPD in the sum of approximately US$6,197,000 ("Novation"). The aggregate consideration for the Proposed Disposal and the Novation is £1. The Proposed Disposal is subject to shareholder approval at a forthcoming General Meeting on 9 June 2020. Further information can be found in a Circular, which includes a notice of the General Meeting, which is available on the Company's website.
Best of