Re: Investor Subscription

RNS Number : 3407U

Equatorial Palm Oil plc

13 October 2010

 

Equatorial Palm Oil plc / Index: AIM / Epic: PAL / Sector: Food Producers

13 October 2010

Equatorial Palm Oil plc ('EPO' or 'the Company')

Investor subscription update

Further to the announcement of 26 August 2010 Equatorial Palm Oil plc, the AIM listed Liberian focussed sustainable oil palm plantation developer, is pleased to announce that Andrew Milne has, under the Investor Subscription Letter (the 'ISL', as described in the Company's AIM Admission Document dated 26 February 2010), has subscribed for 2,000,000 new ordinary shares at a price of 17.5p per new ordinary share raising £350,000 for the Company.

The enlarged issued share capital of the Company following the issue of the 2,000,000 new ordinary shares will be 116,751,670 ordinary shares.  Application has been made for the Placing Shares to be admitted to trading on AIM and the Placing Shares are expected to commence trading on 14 October 2010.

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

Michael Frayne	Equatorial Palm Oil plc	Tel: [phone]
Peter Krens	Mirabaud Securities LLP	Tel: [phone]
Pascal Keane	Shore Capital & Corporate Limited	Tel: [phone]
Edward Mansfield	Shore Capital & Corporate Limited	Tel: [phone]
Hugo de Salis	St Brides Media & Finance Ltd	Tel: [phone]
Elisabeth Cowell	St Brides Media & Finance Ltd	Tel: [phone]

Notes to editors:

About Equatorial Palm Oil

EPO's objective is to become a producer of sustainable, low-cost CPO and to this end it has extensive operations located near the coast in Liberia, West Africa.  The Company's operational strategy is expected to be implemented through three core business activities: the rehabilitation of existing oil palm plantations; the development of new plantations; and the development of out-grower small holdings.  The Company has secured Government ratified Investment Agreements in Liberia for the investment, rehabilitation and participation by the Group over a sizeable acreage of existing oil palm plantations.  EPO's operations have already commenced at the Butaw Plantation and Palm Bay Plantation.

 

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