Bond Conversion & Acquisition Update

RNS Number : 6422E
Asian Plantations Limited
01 June 2012

1 June 2012


Asian Plantations Limited

("APL" or the "Company")


Bond Conversion &

Acquisition Update


Asian Plantations Limited (LSE: PALM), a palm oil plantation company with operations in Malaysia, announces that the holder of its 1.75 per cent. US$1,000,000 convertible unsecured bond due 2014 (the "Convertible Bond") has notified the Company of its conversion, in accordance with the terms previously announced on 19 November 2010. The Convertible Bond has been converted into 313,383 new ordinary shares ("New Shares") of no par value in the Company.


Application has been made to the London Stock Exchange plc for the New Shares to be admitted to trading on AIM ("Admission") and it is expected that dealings in the New Shares will commence on 7 June 2012, following which the enlarged issued share capital of the Company will total 46,511,134 Ordinary Shares. The Company does not hold any shares in treasury.


Acquisition update


Further to the announcement of 28 February 2012, the Company announces that it is no longer proposing to pursue the acquisition of a 60% stake in a Malaysian company with 9,000 titled hectares and 8,000 leased hectares.  The Company continues to assess several potential opportunities, with the intention of acquiring further wholly-owned parcels of land, and further announcements will be made in due course.



For further information contact:


Asian Plantations Limited

Graeme Brown, Joint Chief Executive Officer

Dennis Melka, Joint Chief Executive Officer



Tel:  +65 6325 0970


Strand Hanson Limited

James Harris

Paul Cocker

Liam Buswell



Tel: +44 (0) 20 7409 3494

Panmure Gordon (UK) Limited

Tom Nicholson

Callum Stewart



Tel:   +65 8614 7553

Tel: +44 (0) 20 7459 3600

Macquarie Capital (Europe) Limited

Steve Baldwin

Dan Iacopetti



Tel: +44 (0) 20 3037 2000


Bankside Consultants

Simon Rothschild


Tel: +44 (0) 20 7367 8871




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