Appointment of Director

RNS Number : 3779Y

Equatorial Palm Oil plc

08 May 2019

 

8 May 2019

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 today announces the appointment of Mr Patrick Kee Chuan Peng as a Non-Executive Director replacing Mr Teh Sar Moh Nee who retires with immediate effect.

Mr Patrick Kee Chuan Peng joined Kuala Lumpur Kepong Berhad ("KLK") in 1982. He has vast experience in all aspects of operations at KLK and was promoted to his current position as Group Plantations Director of KLK on 1 October 2017.

Mr Teh Sar Moh Nee has retired from KLK as Operations Director and accordingly steps down as a director of EPO.          

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

"We are delighted that Patrick has agreed to join the Board of EPO. Patrick has been at KLK since 1982 and was the former head of all KLKs plantations in Indonesia. His guidance, experience and input will be extremely valuable for the Company, especially as we ramp up our production and look to increase the yields at Palm Bay estate.

"I would like to take this opportunity to thank Mr Teh for his valuable contribution to the Company since his appointment as a director in 2014. We wish Mr Teh the very best for his retirement."

Mr Patrick Kee Chuan Peng, aged 60

Mr Patrick Kee Chuan Peng has served KLK's subsidiaries in various capacities from Assistant, Manager, General Manager to Regional Director in West Malaysia, Sabah and Indonesia. He is an Associate Member of the Incorporated Society of Planters. He has also attended the Senior Management Development Programme conducted by Harvard Business School and Advance Management Programme of INSEAD.

Current directorships	Previous directorships (within the last 5 years) None
Applied Agricultural Resources Sdn. Bhd.
Golden Complex Sdn. Bhd.
KL-Kepong Plantation Holdings Sdn. Bhd.
KL-Kepong (Sabah) Sdn. Bhd.
P.T. Adei Plantation & Industry
P.T. Agro Makmur Abadi
P.T. Alam Karya Sejahtera AKS
P.T. Anugrah Surya Mandiri
P.T. Bumi Makmur Sejahtera Jaya
P.T. Hujan Hijau Mas
P.T. Jabontara Eka Karsa
P.T. Karya Makmur Abadi
P.T. KLK Agriservindo
P.T. Langkat Nusantara Kepong
P.T. Malindomas Perkebunan
P.T. Menteng Jaya Sawit Perdana
P.T. Mulia Agro Permai
P.T. Parit Sembada
P.T. Perindustrian Sawit Synergi
P.T. Putra Bongan Jaya
P.T. Safari Riau
P.T. Satu Sembilan Delapan
P.T. Sekarbumi Alamlestari
P.T. Steelindo Wahana Perkasa
P.T. Tekukur Indah
Uni-Agro Multi Plantations Sdn. Bhd

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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