Warrant Buyback and Issue by the Company (0352Y)

TIDMPAL

RNS Number : 0352Y

Equatorial Palm Oil plc

24 February 2012

EQUATORIAL PALM OIL plc

("EPO" or the "Company")

Warrant Buyback and Issue by the Company

Equatorial Palm Oil plc, (AIM: PAL), the AIM listed palm oil development company with operations in Liberia, announces an update pursuant to the offer made to purchase warrants from existing warrant holders on 11 November 2011 (the "Offer") and the subsequent announcement declaring it has received acceptances for the purchase of 3,955,012 warrants (the "Purchased Warrants") on 13 December 2011.

Following the cancellation of the Purchased Warrants, the Company issued 3,955,012 new warrants on equivalent terms to the Purchased Warrants (the "New Warrants"). The New Warrants have been issued to Adelise Services Limited, a company held by a trust of which Michael Frayne, a director of the Company, is a beneficiary, and BioPalm Energy Limited, a substantial shareholder in the Company (together the "Parties"). The Parties were each issued with 1,977,506 New Warrants, which will be exercisable until 26(th) February 2012.

Following the issue of the New Warrants, Mr Frayne is beneficially interested in 6,595,948 ordinary shares and 6,967,676 warrants in the Company.

Following the issue of the New Warrants, Biopalm Energy has 33,333,333 ordinary shares and 1,977,506 warrants in the Company.

For further information, please contact:

 
 Equatorial Palm Oil plc 
  Michael Frayne (Chairman)                     +44 (0) 20 7766 
  www.epoil.co.uk                                7555 
 Strand Hanson Limited (Nominated Adviser)      +44 (0) 20 7409 
  James Harris / Paul Cocker                     3494 
 Mirabaud Securities LLP (Broker)               +44 (0) 20 7484 
  Peter Krens                                    3510 
 Pelham Bell Pottinger (Financial/ Corporate 
  PR)                                           +44 (0) 20 7861 
  Archie Berens / Philippe Polman                3126

This information is provided by RNS

The company news service from the London Stock Exchange

END

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