Kuala Lumpur Kepong Berhad Statement re Possible Offer
October 22 2013 - 5:52AM
UK Regulatory
TIDMPAL
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
22 October 2013
Equatorial Palm Oil PLC
("EPO" or the "Company")
Possible offer consideration
In its announcement of 15 October 2013, the board of EPO noted
early stage discussions with Kuala Lumpur Kepong Berhad ("KLK")
regarding the funding of EPO's joint venture, Liberian Palm
Developments Limited ("LPD"), which may or may not lead to an offer
of funding for LPD and which may or may not include an offer for
all or part of the Company. LPD is a joint venture with Biopalm
Energy Limited ("Biopalm").
KLK confirms that, if it were to make an offer for EPO, the
consideration is likely to be solely in cash.
There can be no certainty that any offer for EPO will be made,
nor as to any other terms of any such offer should one be
forthcoming, nor can there be any certainty that any funding will
be provided by KLK as a result of these discussions. This
announcement does not amount to a firm intention to make an offer
under Rule 2.7 of the City Code on Takeovers and Mergers (the
"Code").
Enquiries:
Lincoln International LLP (Financial Adviser) +44 20 7022 9880
Julian Tunnicliffe / Harry Kalmanowicz
Lincoln International LLP which is regulated in the United
Kingdom by The Financial Conduct Authority is acting for KLK in
relation to the matters described in this announcement and is not
advising any other person, and accordingly will not be responsible
to anyone other than KLK for providing the protections afforded to
customers of Lincoln International LLP or for providing advice in
relation to the matters described in this announcement.
The directors of KLK accept responsibility for the information
contained in this announcement. To the best of their knowledge and
belief (having taken all reasonable care to ensure that such is the
case), the information contained in this announcement for which
they are responsible is in accordance with the facts and does not
omit anything likely to affect the import of such information.
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in
1% or more of any class of relevant securities of an offeree
company or of any securities exchange offeror (being any offeror
other than an offeror in respect of which it has been announced
that its offer is, or is likely to be, solely in cash) must make an
Opening Position Disclosure following the commencement of the offer
period and, if later, following the announcement in which any
securities exchange offeror is first identified. An Opening
Position Disclosure must contain details of the person's interests
and short positions in, and rights to subscribe for, any relevant
securities of each of (i) the offeree company and (ii) any
securities exchange offeror(s). An Opening Position Disclosure by a
person to whom Rule 8.3(a) applies must be made by no later than
3.30 pm (London time) on the 10th business day following the
commencement of the offer period and, if appropriate, by no later
than 3.30 pm (London time) on the 10th business day following the
announcement in which any securities exchange offeror is first
identified. Relevant persons who deal in the relevant securities of
the offeree company or of a securities exchange offeror prior to
the deadline for making an Opening Position Disclosure must instead
make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes,
interested in 1% or more of any class of relevant securities of the
offeree company or of any securities exchange offeror must make a
Dealing Disclosure if the person deals in any relevant securities
of the offeree company or of any securities exchange offeror. A
Dealing Disclosure must contain details of the dealing concerned
and of the person's interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree
company and (ii) any securities exchange offeror, save to the
extent that these details have previously been disclosed under Rule
8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies
must be made by no later than 3.30 pm (London time) on the business
day following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a
securities exchange offeror, they will be deemed to be a single
person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and
8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Panel's Market Surveillance Unit
on +44 (0)20 7638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
This information is provided by Business Wire
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