Issue of Equity

RNS Number : 6810B

Equatorial Palm Oil plc

22 February 2011

 



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), subscribed for an additional 400,000 new ordinary shares.  Mr Milne has now completed the entire subscription of 6,857,143 shares at 17.5p to raise £1.2 million under the ISL. Mr Milne said, "As an active private investor, I am pleased to have completed my subscription for new shares in the Company which represents a substantial investment in EPO and this palm oil project."

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 28 February 2011.

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

Equatorial Palm Oil plc Company Michael Frayne, Chairman	[phone]
Shore Capital & Corporate Ltd. NOMAD and Joint Broker Pascal Keane Edward Mansfield	[phone]
Mirabaud Securities LLP Broker Peter Krens	[phone]
Pelham Bell Pottinger Financial  / Corporate PR Charles Vivian	[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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