Exercise of Options

RNS Number : 5259B

Dekeloil Public Limited

05 March 2014

 



DekelOil Public Limited / Index: AIM / Epic: DKL / ISIN: CY0103462210 / Sector: Food Producers

5 March 2014

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

Exercise of Options

DekelOil Public Limited, operator and 51% owner of an established vertically integrated palm oil project in Côte d'Ivoire announces that it has received notice for the exercise of 6,288,447 options (each over one new Ordinary Share in the capital of the Company exercisable at €0.00003367 per Ordinary Share) which were granted to two senior management prior to the Company's admission to AIM in March 2013 (the 'Exercise').

Application will be made for the 6,288,447 new Ordinary Shares issued pursuant to the Exercise, which will rank pari passu with all existing Ordinary Shares, to be admitted to trading on AIM. Admission is expected to take place on or around 12 March 2014.

Following the issue of the new Ordinary Shares, the Company's total issued share capital will consist of 1,400,451,021 Ordinary Shares.

** ENDS **

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

Youval Rasin	DekelOil Public Limited	Tel: [phone]
Shai Kol	DekelOil Public Limited	Tel: [phone]
Lincoln Moore	DekelOil Public Limited	Tel: [phone]
Christian Dennis Jeremy King Roland Cornish Rosalind Hill Abrahams Elisabeth Cowell	Optiva Securities Limited Optiva Securities Limited Beaumont Cornish Limited Beaumont Cornish Limited St Brides Media & Finance Ltd	Tel: [phone] Tel: [phone] Tel: [phone] Tel: [phone] Tel: [phone]
Frank Buhagiar	St Brides Media & Finance Ltd	Tel: [phone]

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 ('the Mill') based in Côte d'Ivoire, which has a capacity of 70,000 tons of Crude Palm Oil ('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.  Currently, it has one off-take agreement to deliver 24,000 tonnes of CPO per annum to a local refiner and is in discussions with other potential partners. 

 

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