Result of GM and Update re Disposal

RNS Number : 4137P

Equatorial Palm Oil plc

09 June 2020

 

9 June 2020 

EQUATORIAL PALM OIL plc

("EPO" or the "Company")

Result of GM and Update re Disposal

Equatorial Palm Oil plc (AIM: PAL) announces, further to its announcement of 18 May 2020, that the resolution proposed at its General Meeting ("GM") held earlier today, as set out in the notice of meeting dated 18 May 2020, was duly approved by shareholders. Accordingly, the proposed disposal by the Company's wholly owned subsidiary, Equatorial Biofuels (Guernsey) Limited ("Equatorial Biofuels"), of its 50 per cent. interest in Liberian Palm Developments Limited ("LPD") to Kuala Lumpur Kepong Berhad ("KLK") has now been approved by shareholders pursuant to Rule 15 of the AIM Rules for Companies (the "Disposal").

There are now no outstanding conditions precedent to completion of the Disposal save for the completion of final procedural documentation, which is expected to be completed in the coming days. A further announcement will be released in due course to confirm completion of the Disposal, upon which the Company will be deemed an AIM Rule 15 cash shell as defined in the AIM Rules for Companies.

For further information, please visit www.epoil.co.uk or contact:

Equatorial Palm Oil plc Michael Frayne (Executive Chairman)	[phone]
Strand Hanson Limited (Nominated Adviser) James Harris / James Bellman	[phone]
Mirabaud Securities Limited (Broker) Peter Krens	[phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

 

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