Issue of Equity (6810B)
February 23 2011 - 2:00AM
UK Regulatory
TIDMPAL
RNS Number : 6810B
Equatorial Palm Oil plc
22 February 2011
Equatorial Palm Oil plc ('EPO' or the 'Company')
Investor subscription update
Equatorial Palm Oil plc, the AIM listed Liberian focussed
sustainable oil palm plantation developer, is pleased to announce
that Andrew Milne has, under the Investor Subscription Letter (the
'ISL', as described in the Company's AIM Admission Document dated
26 February 2010), subscribed for an additional 400,000 new
ordinary shares. Mr Milne has now completed the entire subscription
of 6,857,143 shares at 17.5p to raise GBP1.2 million under the ISL.
Mr Milne said, "As an active private investor, I am pleased to have
completed my subscription for new shares in the Company which
represents a substantial investment in EPO and this palm oil
project."
Application has been made for the new ordinary shares to be
admitted to trading on AIM and the new ordinary shares are expected
to commence trading on 28 February 2011.
* * ENDS * *
For further information please visit www.epoil.co.uk, or
contact:
Equatorial Palm Oil plc
Company
Michael Frayne, Chairman +44 (0) 20 7766 7555
Shore Capital & Corporate
Ltd.
NOMAD and Joint Broker
Pascal Keane
Edward Mansfield +44 (0) 20 7408 4090
Mirabaud Securities LLP
Broker
Peter Krens +44 (0) 20 7484 3510
Pelham Bell Pottinger
Financial / Corporate PR
Charles Vivian +44 (0) 20 7861 3126
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 extensive 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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