Investor subscription update

RNS Number : 6570R

Equatorial Palm Oil plc

26 August 2010

 

Equatorial Palm Oil plc / Index: AIM / Epic: PAL / Sector: Food Producers

26 August 2010

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, announces that the due date for the first part of the second tranche of subscription shares under the Investor Subscription Letter (the 'ISL', as described in the Company's AIM Admission Document dated 26 February 2010) has been deferred for six months.  The six month deferral, effective from 26 August 2010, is for the subscription of 1,500,000 new Ordinary Shares in EPO at a price of 17.5p per share.  The consideration for deferral is the cancellation of 2,014,285 warrants attached to the ISL.

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 For further information please visit www.epoil.co.uk, or contact: 

Michael Frayne	Equatorial Palm Oil plc	Tel: [phone]
Peter Krens	Mirabaud Securities LLP	Tel: [phone]
Pascal Keane	Shore Capital & Corporate Limited	Tel: [phone]
Edward Mansfield	Shore Capital & Corporate Limited	Tel: [phone]
Hugo de Salis	St Brides Media & Finance Ltd	Tel: [phone]
Elisabeth Cowell	St Brides Media & Finance Ltd	Tel: [phone]

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.

 

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