Holdings in Company / Directo

RNS Number : 2555V

Asian Plantations Limited

29 October 2010

 



29 October 2010

Asian Plantations Limited

("APL" or the "Company")

Holdings in the Company and Directors' Dealings

Asian Plantations Limited (LSE: PALM), a palm oil plantation company with operations in Malaysia, has been notified that the KSC Closed-Ended Plantation Fund ("KSC") disposed of, on 29 October 2010, 2,239,000 ordinary shares of no par value in the Company ("Ordinary Shares"), representing approximately 6.7 per cent. of APL's issued ordinary share capital (the "Disposal").  

Following the Disposal, KSC no longer holds a notifiable interest in the issued share capital of the Company.

Concurrent with the Disposal:

Dennis Melka and Graeme Brown, Joint Chief Executive Officers of the Company, each acquired 75,000 Ordinary Shares at a price of 125 pence per Ordinary Share, representing, in aggregate, 0.45 per cent. of the issued share capital of the Company.   Following this increase in holdings, Dennis Melka and Graeme Brown are now each beneficially interested in 2,101,001 Ordinary Shares, representing approximately 12.6 per cent. of the issued ordinary share capital of the Company, respectively.

The Asian Agricultural Fund I ("AAF"), managed by Asian Agri Capital Limited, also acquired 160,000 Ordinary Shares, representing 0.48 per cent. of the issued share capital of the Company. Following this increase in holdings, AAF is now beneficially interested in 1,038,000 Ordinary Shares, representing 3.1 per cent. of the issued ordinary share capital of the Company.

Dennis Melka, APL's Joint Chief Executive Officer, commented:

"KSC was our original private equity investor in 2008, when the Company had less than 4,800 hectares of land, all of which was unplanted at the time.  We thank them for their support and partnership in growing the Company to its current position.  The Disposal has allowed the Company to significantly broaden its institutional investor base in the London market and we are pleased to welcome these new shareholders to the Company."

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 Liam Buswell	Tel: [phone]
Panmure Gordon (UK) Limited Tom Nicholson Edward Farmer	Tel: [phone]
Bankside Consultants Simon Rothschild Louise Mason	Tel: [phone] Tel: [phone]

 

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