Appointment of Director

RNS Number : 7539E

Equatorial Palm Oil plc

10 May 2017

 

10 May 2017

EQUATORIAL PALM OIL plc

("EPO" or the "Company")

Appointment of Director

Equatorial Palm Oil plc, (AIM: PAL), the AIM listed palm oil development and production company with operations in Liberia, West Africa announces the appointment of Mr Lee Guo Zhang as a Non-Executive Director with immediate effect. Mr Lee Guo Zhang joined Kuala Lumpur Kepong Berhad ("KLK") in 2010 as an executive. He has experience across various departments in KLK and was promoted to his current position as a Senior Manager in the Plantations Division in 2015.

Michael Frayne, Non-Executive Chairman of EPO, commented:

"We are delighted that Guo Zhang has agreed to join the Board of EPO. Guo Zhang has been involved in EPOs business in Liberia since KLK invested into EPO in late 2013. His guidance and input will be extremely valuable for the Company, especially as we draw nearer to completion of the first stage of our new 60 metric tonne per hour palm oil mill at Palm Bay estate and production in 2018."

Mr Lee Guo Zhang, aged 29

Mr Lee Guo Zhang graduated with a Bachelor Degree in Medicinal & Biological Chemistry from the University of Nottingham in 2009.

Current directorships	Past directorships within the last 5 years
Bornion Estate Sdn. Bhd.	N/A
Malay Rubber Plantations (Malaysia) Sdn. Bhd.
P.T. Safari Riau
P.T. Agro Makmur Abadi

Lee Guo Zhang holds 17,000,000 ordinary shares of 1 penny each in the Company representing approximately 4.77 per cent. of the Company's issued share capital.

There is no further information required to be disclosed pursuant to Schedule 2(g) of the AIM Rules.

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

Equatorial Palm Oil plc Geoffrey Brown (Executive Director)	[phone]
Strand Hanson Limited (Nominated Adviser) James Harris / James Bellman	[phone]
Mirabaud Securities LLP (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.

Notes to editors:

Equatorial Palm Oil plc is an AIM listed crude palm oil developer and producer with palm oil estates in Liberia, West Africa.  The Company was founded in 2005 and is focused on becoming a global, sustainable producer of high quality palm oil to regional and international markets.

With a significant land position in Liberia through its operating subsidiary Liberian Palm Developments Limited (LPD), the Company is geographically well positioned to serve the international and regional markets and is committed to making a positive impact on the communities in which it operates through investment in local schools, health clinics, housing and infrastructure. 

The Company's largest shareholder in EPO and 50:50 joint venture partner in LPD is Kuala Lumpur Kepong Berhad ("KLK").  KLK is one of the largest palm oil producers in the world and the Company will greatly benefit from their many years of expertise in oil palm development.

 

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