Appointment of Non-Executive Director

RNS Number : 4245P

Dekeloil Public Limited

19 August 2014

 



DekelOil Public Limited / Index: AIM / Epic: DKL / Sector: Food Producers

19 August 2014

DekelOil Public Limited ('DekelOil' or 'the Company')

Appointment of Non-Executive Director

DekelOil Public Limited, operator and 51% owner of an established vertically integrated palm oil project in Côte d'Ivoire, is pleased to announce that Ms. Orli Arav, who has more than eighteen years' experience in project and structured finance within financial institutions and advisory firms, particularly in Africa, has been appointed as Non-executive Director with immediate effect.  In tandem with this, Richard Amon, the Company's current non-executive director, will step down from the Board, also with immediate effect, however he will continue to advise the Company as a consultant.  Ms. Arav's prominent role in a number of African transactions will be highly beneficial to the Company as it focusses on its expansion plans to build DekelOil into a leading palm oil company in West Africa.

Orli has an in-depth market and industry knowledge of Emerging Markets and since 2005 has focussed on sub-Saharan Africa through her position as Head of the Emerging Africa Infrastructure Fund (EAIF) at Frontier Markets Fund Managers. EAIF is an open end debt fund for sub-Saharan Africa based in London that was set up by international development ministries of the Netherlands, Sweden, Switzerland and the UK.  During this time she successfully structured and closed a number of transactions providing capital to infrastructure projects.  Orli has also held roles in the project finance divisions of global accountancy firms PriceWaterhouseCoopers and Ernst & Young. 

DekelOil Executive Director Lincoln Moore said, "Orli has significant experience of operating within the African capital markets and I am delighted to welcome her to the Board as we focus on increasing both our production and presence in Cote d'Ivoire to become a leading West African palm oil developer. Additionally, I would like to take this opportunity to thank Richard Amon for his support and I look forward to continuing our working relationship through his role as a Consultant to the Company."

Further information:

Orli Arav, 46, is currently a director of:

Tel Aviv University Trust UK

Global Sustainable AgroForestry Fund (member of the advisory board)

She has been a director/partner of no other companies/partnerships within the last 5 years.

Ms. Arav does not hold shares in the Company.

Save as set out in this announcement, there are no further matters to be disclosed in accordance with paragraph(g) of Schedule 2 of the AIM Rules for Companies.

** ENDS **

For further information please visit the Company's website www.dekeloil.com or contact:

Youval Rasin	DekelOil Public Limited	Tel: [phone]
Shai Kol
Lincoln Moore
Andrew Craig Ben Wright	Nplus1 Singer Advisory LLP	Tel: [phone]
Christian Dennis Jeremy King	Optiva Securities Limited	Tel: [phone]
Elisabeth Cowell	St Brides Media & Finance Ltd	Tel: [phone]
Frank Buhagiar

Notes:

DekelOil Public Limited is a low cost producer of palm oil in West Africa, which it is focused on rapidly expanding.  To this end, it has a 51% interest in one of the largest oil processing mills based in Côte d'Ivoire, which has a capacity of 70,000 tons of CPO.  Feedstock for the Mill comes from 27,000 hectares of mature palm oil plantations that have been secured under long term contracts with smallholders, however it also has nearly 1,900 hectares of its own plantations.  Furthermore, it has a world-class nursery with a 1 million seedlings a year capacity. 

 

END

 

 

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