Offer Period Extension

RNS Number : 6375S

Equatorial Palm Oil plc

11 November 2013

 



11 November 2013

EQUATORIAL PALM OIL PLC

("EPO" or the "Company")

Offer Period Extension

Equatorial Palm Oil PLC (AIM: PAL.L) announced on 16 October 2013 that it was in early stage discussions with Kuala Lumpur Kepong Berhad ("KLK") regarding the funding of EPO's joint venture, Liberian Palm Developments Limited ("LPD"), which may or may not lead to an offer of funding for LPD and which may or may not include an offer for all or part of the Company. 

In accordance with Rule 2.6(a) of the Takeover Code ("the Code"), KLK was required, by 5.00 p.m. on 12 November 2013 (the "relevant deadline"), to either announce a firm intention to make an offer for Equatorial Palm Oil PLC, under Rule 2.7 of the Code, or announce that it does not intend to make an offer for EPO.   

In accordance with Rule 2.6(c) of the Code, at the request of the Board of the Company, the Panel on Takeovers & Mergers has consented to an extension of the relevant deadline, until 5.00 p.m. on 12 December 2013 to enable the parties to progress their ongoing discussions.  There can be no certainty that at the end of this period any offer for EPO will be made.

Further announcements will be made as appropriate.

Enquiries:

Equatorial Palm Oil PLC Michael Frayne (Executive Chairman) www.epoil.co.uk	[phone]
Strand Hanson Limited (Financial Adviser) James Harris / Andrew Emmott	[phone]
Mirabaud Securities LLP (Broker) Peter Krens	[phone]

Strand Hanson Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting exclusively for EPO and no one else in connection with the possible offer and will not be responsible to anyone other than EPO for providing the protections afforded to clients of Strand Hanson Limited or for providing advice in relation to the possible offer or any other matter referred to herein.

Website disclosure

In accordance with Rule 30.4 of the Code, a copy of this announcement will be available on EPO's website at www.epoil.co.uk by no later than 12 noon on 12 November 2013.

 

END

 

 

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