Result of Warrant Buyback by the Company

RNS Number : 9061T

Equatorial Palm Oil plc

13 December 2011

 



13 December 2011

EQUATORIAL PALM OIL plc

("EPO" or the "Company")

Result of Warrant Buyback by the Company

Equatorial Palm Oil plc, (AIM: PAL), the AIM listed palm oil development company with operations in Liberia, announces that pursuant to the offer made to purchase warrants from existing warrant holders (the "Offer"), which was announced on 11 November 2011, it has received acceptances for the purchase of 3,955,012 warrants (the "Purchased Warrants"). Each warrant was purchased at a price of 0.5p per warrant, with the total cost of the purchase, including stamp duty, being £19,885.06.

In accordance with the terms of the Offer the Purchased Warrants will be cancelled and in due course the Company intends to issue an equal number of new warrants, containing equivalent terms and exercise period, to a number of directors and shareholders of the Company, as outlined in the announcement on 11 November 2011 (the "New Warrants"). A further announcement will shortly be made by the Company at the point in time at which the New Warrants are issued.

As stated in the terms of the Offer, and as of 12 December 2011, the Offer is now closed. The remaining warrants will continue to be exercisable on the existing terms until 26^th February 2012.

For further information, please contact:

Equatorial Palm Oil plc Michael Frayne (Chairman) www.epoil.co.uk	[phone]
Strand Hanson Limited (Nominated Adviser) James Harris / Paul Cocker	[phone]

Mirabaud Securities LLP (Broker) Peter Krens	[phone]
Pelham Bell Pottinger (Financial/ Corporate PR) Archie Berens / Philippe Polman	[phone]

 

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