Appointment of New In-Country CEO

RNS Number : 0470O

Dekeloil Public Limited

02 November 2016

 

DekelOil Public Limited / Index: AIM / Epic: DKL / Sector: Food Producers

2 November 2016

DekelOil Public Limited ('DekelOil' or the 'Company')

Appointment of New In-Country CEO

DekelOil Public Limited, operator and 85.75% owner of the profitable and vertically integrated Ayenouan palm oil project in Côte d'Ivoire (the 'Project'), is pleased to announce that it has appointed Mr. Vince McAleer as CEO of the Company's subsidiary, Dekeloil Côte d'Ivoire SA.  Mr McAleer, who has more than 25 years' experience in tropical agriculture, processing and trading, will commence the role on 16 November 2016 and will be based in Côte d'Ivoire.

Mr McAleer replaces Mr. Eyal Timmor who has decided to pursue other opportunities but will remain with the Company until the end of the year to ensure a smooth transition.  Eyal has been integral in developing DekelOil into the profitable entity that it is now, and the Directors would like to take this opportunity to thank him for his valuable contributions and wish him the best for the future. 

Vince McAleer is a professional agribusiness manager with more than 30 years' experience in tropical agriculture, processing and trading, including 20 years of technical, operational, and board level appointments in the palm oil sector in Indonesia, Nigeria and Papua New Guinea with CDC and SIAT sa. Most recently Vince was CEO of the African Agriculture Fund's palm oil platform, with investments in the Democratic Republic of Congo and Sierra Leone. He has a degree in agriculture from the University of Reading and an MBA from the University of Warwick.

DekelOil Executive Director Lincoln Moore said, "The appointment of Vince as CEO of our subsidiary in Côte d'Ivoire represents the culmination of a six month process to find the right candidate with the relevant experience and expertise to perform this important role.  With a strong background in agriculture and most importantly an exceptional local knowledge of the West African palm oil industry, Vince ticks all the boxes.  We believe his addition to the management team on the ground will be invaluable as we continue to deliver on our strategy to become a leading West African crude palm oil producer."

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For further information please visit the Company's website or contact:

DekelOil Public Limited Youval Rasin Shai Kol Lincoln Moore	[phone]
Cantor Fitzgerald Europe (Nomad and Broker) Andrew Craig Richard Salmond	[phone]
Beaufort Securities Limited (Broker) Zoe Alexander Elliot Hance	[phone]
Optiva Securities Limited (Broker) Christian Dennis Jeremy King	[phone]
St Brides Partners Ltd (Investor Relations) Elisabeth Cowell Frank Buhagiar	[phone]

Notes:

DekelOil Public Limited is a low cost producer of palm oil in West Africa, which it is focused on rapidly expanding.  To this end, it has an 85.75% interest in one of the largest oil processing mills based in Côte d'Ivoire, which has a capacity of 70,000 tons of CPO.  Feedstock for the Mill comes from several co-operatives and thousands of smallholders, however it also has nearly 1,900 hectares of its own plantations.  Furthermore, it has a world-class nursery with a 1 million seedlings a year capacity. 

 

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