Completion of Acquisition

RNS Number : 6881Y

Asian Plantations Limited

30 December 2010

 



30 December 2010

Asian Plantations Limited

("APL" or the "Company")

Completion of Acquisition

Asian Plantations Limited (LSE: PALM), a palm oil plantation company with operations in Malaysia, is pleased to confirm that it has now completed the acquisition announced on 16 August 2010. The Company is now the legal owner of the entire issued share capital of Fortune Plantation Sdn. Bhd (the "Acquisition").

The terms of the Acquisition remain consistent with those announced previously.

Graeme Brown, APL's Joint Chief Executive Officer, commenting on the completion of the Acquisition, said:

"We are delighted to complete the Acquisition, which has now significantly enlarged the Company's land bank and is an important step towards achieving the Company's stated objective of owning in excess of 20,000 hectares of Malaysian titled land within two years of listing."

For further information contact:

Asian Plantations Limited Dennis Melka, Joint Chief Executive Officer Graeme Brown, Joint Chief Executive Officer	Tel:  [phone]                        Tel:  [phone]
Strand Hanson Limited James Harris Paul Cocker	Tel: [phone]
Panmure Gordon (UK) Limited Tom Nicholson Edward Farmer	Tel: [phone]
Bankside Consultants Simon Rothschild Louise Mason	Tel: [phone] Tel: [phone]

 

END

 

 

ACQURRRRRSAUORA