Result of Scrip Dividend and Director Dealing

RNS Number : 4597P

Dekeloil Public Limited

01 September 2017

 

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

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

Result of Scrip Dividend

and Director Dealing

DekelOil Public Limited, operator and 100% owner of the profitable and vertically integrated Ayenouan palm oil project in Côte d'Ivoire, announces that in connection with the Company's maiden dividend, DekelOil has received valid elections from shareholders for the scrip dividend alternative in respect of 82,756,537 ordinary shares of €0.0003367 each ("Ordinary Shares"), representing 28.0 per cent. of the Company's issued share capital at the dividend record date.

Accordingly, based on a dividend reference price of 11.8 pence per share, a total of 1,192,242 Ordinary Shares will be allotted by the Company to shareholders who have elected to receive the scrip dividend alternative on 4 September 2017.

Application has been made to the London Stock Exchange for 1,192,242 Ordinary Shares to be admitted to trading on AIM and admission is expected to become effective on 4 September 2017. Following Admission, the Company's issued share capital will consist of 297,311,700 Ordinary Shares.

Director Dealings

Certain of the Directors have elected for a scrip dividend and as a result their shareholdings in the Company will increase. The beneficial and non-beneficial interests of those Directors and persons closely associated with them in Ordinary Shares as at the date of this announcement and following the scrip dividend issue are set out in the table below.

	Date of this announcement		Scrip dividend shares	Immediately following the scrip issue
Director	Number of Ordinary Shares	Percentage of ordinary share capital	Number of shares acquired in scrip dividend election	Number of Ordinary Shares	Percentage of the enlarged issued share capital
Youval Rasin	47,964,514	16.2%	334,024	48,298,538	16.2%
Shai Kol	10,649,174	3.6%	76,710	10,725,884	3.6%
Lincoln Moore	1,367,500	0.5%	19,701	1,387,201	0.5%

** ENDS **

For further information please visit the Company's website or contact:

DekelOil Public Limited Youval Rasin Shai Kol Lincoln Moore	[phone]
Cantor Fitzgerald Europe (Nomad and Broker) Andrew Craig Richard Salmond	[phone]
Beaufort Securities Limited (Broker) Zoe Alexander Elliot Hance	[phone]
Optiva Securities Limited (Broker) Christian Dennis Jeremy King	[phone]
St Brides Partners Ltd (Investor Relations) Frank Buhagiar Megan Dennison	[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 100% 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 several co-operatives and thousands of 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. 

Appendix

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Youval Rasin
2.	Reason for the notification
a)	Position/status:	Chief Executive Officer
b)	Initial notification/amendment:	Initial notification
3.	Details of the issuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	DekelOil Public Limited
b)	LEI:
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument: Identification code:	Ordinary shares of €0.0003367 each CY0106502111
b)	Nature of the transaction:	Scrip dividend election
c)	Price(s) and volume(s):	Prices(s) Volume(s) 11.8 pence 334,024
d)	Aggregated information: Aggregated volume: Price:	Single transaction as in 4 c) above Prices(s) Volume(s) 11.8 pence 334,024
e)	Date of transaction:	4 September 2017
f)	Place of transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Shai Kol
2.	Reason for the notification
a)	Position/status:	Deputy CEO
b)	Initial notification/amendment:	Initial notification
3.	Details of the issuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	DekelOil Public Limited
b)	LEI:
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument: Identification code:	Ordinary shares of €0.0003367 each CY0106502111
b)	Nature of the transaction:	Scrip dividend election
c)	Price(s) and volume(s):	Prices(s) Volume(s) 11.8 pence 76,710
d)	Aggregated information: Aggregated volume: Price:	Single transaction as in 4 c) above Prices(s) Volume(s) 11.8 pence 76,710
e)	Date of transaction:	4 September 2017
f)	Place of transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Lincoln Moore
2.	Reason for the notification
a)	Position/status:	Executive Director
b)	Initial notification/amendment:	Initial notification
3.	Details of the issuer emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	DekelOil Public Limited
b)	LEI:
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument: Identification code:	Ordinary shares of €0.0003367 each CY0106502111
b)	Nature of the transaction:	Scrip dividend election
c)	Price(s) and volume(s):	Prices(s) Volume(s) 11.8 pence 19,701
d)	Aggregated information: Aggregated volume: Price:	Single transaction as in 4 c) above Prices(s) Volume(s) 11.8 pence 19,701
e)	Date of transaction:	4 September 2017
f)	Place of transaction	Outside a trading venue

 

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