Miton Acquires Significant Interest in Company

RNS Number : 2523F

Dekeloil Public Limited

11 November 2015

 

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

11 November 2015

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

Miton Group Acquires Significant Interest in Company

DekelOil Public Limited, operator and 51% owner of the vertically integrated Ayenouan palm oil project in Côte d'Ivoire, was notified on 10 November 2015 that Miton Group PLC acquired 51,599,997 shares, representing a 3.35% interest in the Company, on 9 November 2015.

DekelOil Executive Director, Lincoln Moore, said, "We are delighted to welcome Miton Group, the leading fund manager, to our shareholder register.  We view this as an endorsement of the excellent progress we have made to date at our integrated Ayenouan palm oil project in Côte d'Ivoire, where we recently reported a major jump in crude palm oil production to 29,137 tonnes for the nine months to 30 September 2015, which is double the total volumes achieved in 2014.  With a new kernel crushing plant due to commence operations in the near term this is an exciting period for DekelOil, and I look forward to providing updates over the coming months."

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

DekelOil Public Limited Youval Rasin Shai Kol Lincoln Moore	[phone]
Cantor Fitzgerald Europe (Nomad and Broker) Andrew Craig Chris Viggor	[phone]
Beaufort Securities Limited (Broker) Saif Janjua Elliot Hance	[phone]
Optiva Securities Limited (Broker) Christian Dennis Jeremy King	[phone]
St Brides Partners Ltd (Investor Relations) Elisabeth Cowell Frank Buhagiar	[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 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. 

 

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