5 Jan 2011 07:00
Equatorial Palm Oil plc ('EPO' or 'the Company')
Investor subscription update
Equatorial Palm Oil plc, the AIM listed Liberian focussed sustainable oil palm plantation developer, is pleased to announce that Andrew Milne has, under the Investor Subscription Letter (the 'ISL', as described in the Company's AIM Admission Document dated 26 February 2010), has subscribed for an additional 600,000 new ordinary shares at a price of 17.5p per new ordinary share.
In addition, the Company has today issued 250,000 new Ordinary Shares of 1p each in the Company ("Ordinary Shares") pursuant to the exercise of warrants issued by the Company to placees on Admission.
The enlarged issued share capital of the Company following the issue of the 850,000 new ordinary shares will be 118,385,099 ordinary shares. Application has been made for the new ordinary shares to be admitted to trading on AIM and the new ordinary shares are expected to commence trading on 11 January 2011.
* * ENDS * *
For further information please visit www.epoil.co.uk, or contact:
Equatorial Palm Oil plc Company Michael Frayne, Chairman |
+44 (0) 20 7766 7555 |
Shore Capital & Corporate Ltd. NOMAD and Joint Broker Pascal Keane Edward Mansfield |
+44 (0) 20 7408 4090
|
Mirabaud Securities LLP Broker Peter Krens |
+44 (0) 20 7484 3510 |
Pelham Bell Pottinger Financial / Corporate PR Klara Kaczmarek Charles Vivian |
+44 (0) 20 7861 3883 +44 (0) 20 7861 3126 |
Notes to editors:
About Equatorial Palm Oil
EPO's objective is to become a producer of sustainable, low-cost CPO and to this end it has extensive operations located near the coast in Liberia, West Africa. The Company's operational strategy is expected to be implemented through three core business activities: the rehabilitation of existing oil palm plantations; the development of new plantations; and the development of out-grower small holdings. The Company has secured Government ratified Investment Agreements in Liberia for the investment, rehabilitation and participation by the Group over a sizeable acreage of existing oil palm plantations. EPO's operations have already commenced at the Butaw Plantation and Palm Bay Plantation.