PAL Equatorial Palm Oil Plc

 

TIDMPAL 
 
RNS Number : 3123T 
Equatorial Palm Oil plc 
27 September 2010 
 

    Equatorial Palm Oil plc / Index: AIM / Epic: PAL / Sector: Food Producers 
27 September 2010 
                Equatorial Palm Oil plc ('EPO' or 'the Company') 
                      Appointment of Non-Executive Director 
 
Equatorial Palm Oil plc, the AIM listed and Liberia focussed sustainable oil 
palm plantation developer, is pleased to announce the appointment of Mr. Shankar 
Varadharajan as non-executive director with immediate effect.  The appointment 
is under the terms of the subscription agreement, as announced on 27 May 2010, 
which provided the Siva Group with the right to appoint a director to the Board. 
 
Mr. Varadharajan, who has a Master of Science in Financial Information Systems, 
has over 13 years experience of global management, having held senior positions 
for international corporations including Motorola and The Tata Group.  During 
his career he has gained extensive experience in executing business strategy, 
organising project financing and capital raisings, mergers and valuations and 
third party vendor management. 
 
EPO Chairman Michael Frayne said, "We continue to build upon our already 
exciting relationship with The Siva Group, and this appointment will solidify 
our relationship with them, as we fast track all our operations across the three 
plantation areas of Palm Bay, Butaw and River Cess.  The Siva Group has 
recognised the huge potential of our operations, and is keen to work closely 
with us to substantially de-risk our project financially and advance our land 
position to the benefit of shareholders.  I would like to welcome Shankar to the 
Board and I look forward to working closely with him to progress our shared 
objectives of establishing a new palm oil province in Liberia." 
 
Mr. Varadharajan, aged 36, is or has been a director of the following companies 
during the previous five years: 
 
+------------------------+------------------------------------+ 
| Current Directorships: | Directorships held within the      | 
|                        | previous five years:               | 
+------------------------+------------------------------------+ 
| Nil                    | 21st Century Infra Tele Ltd        | 
+------------------------+------------------------------------+ 
 
There is nothing further which is required to be announced pursuant to Schedule 
Two paragraph (g) of the AIM Rules. 
 
                                  * * ENDS * * 
 
 For further information please visit www.epoil.co.uk or contact: 
+--------------+---------------------------+-------------------+ 
| Michael      | Equatorial Palm Oil plc   | Tel: 020 7766     | 
| Frayne       |                           | 7555              | 
+--------------+---------------------------+-------------------+ 
| Peter Krens  | Mirabaud Securities LLP   | Tel: 020 7484     | 
|              |                           | 3510              | 
+--------------+---------------------------+-------------------+ 
| Pascal Keane | Shore Capital & Corporate | Tel: 020 7408     | 
|              | Limited                   | 4090              | 
+--------------+---------------------------+-------------------+ 
| Edward       | Shore Capital & Corporate | Tel: 020 7408     | 
| Mansfield    | Limited                   | 4090              | 
+--------------+---------------------------+-------------------+ 
| Hugo de      | St Brides Media & Finance | Tel: 020 7236     | 
| Salis        | Ltd                       | 1177              | 
+--------------+---------------------------+-------------------+ 
| Elisabeth    | St Brides Media & Finance | Tel: 020 7236     | 
| Cowell       | Ltd                       | 1177              | 
+--------------+---------------------------+-------------------+ 
 
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 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. 
 
About The Siva Group 
Founded in 1986 by Mr. C Sivasankaran, The Siva Group is a Chennai based US$3 
billion Indian conglomerate, with over 3,000 employees and operations in Realty, 
Telecom, Project Engineering, Shipping, Renewable Energy, Agriculture and 
e-education/software.  The Siva Group's diverse businesses are focussed on 
performance, competitiveness, value creation and customer-orientation.  While 
simultaneously strengthening its traditional base, the Group is centred on 
identifying new business opportunities including agriculture.  Given its global 
footprint, the Group is now aggressive in incorporating international expansion 
possibilities into its growth plans. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 BOABLGDCXSDBGGS 
 

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