Equatorial Palm Oil plc Ebola and Operational Update (0187W)
November 04 2014 - 2:01AM
UK Regulatory
TIDMPAL
RNS Number : 0187W
Equatorial Palm Oil plc
04 November 2014
4 November 2014
EQUATORIAL PALM OIL plc
("EPO" or the "Company")
Ebola and Operational Update
Equatorial Palm Oil plc (AIM: PAL), the AIM listed palm oil
development and production company with operations in Liberia, West
Africa today updates the market with respect to the Ebola virus in
Liberia and an operational update.
Ebola
There have been no instances of Ebola on or around our
operations at Palm Bay and Butaw estates. We currently have over
1,500 employees in Liberia of whom 12 are expatriate staff. No
expatriate employees have left the country because of Ebola nor
have any indicated they wish to do so.
We have introduced a number of preventative and precautionary
measures at all our sites in accordance with Government guidelines.
We have established numerous hand sterilisation points and provided
"Thermo Flash" thermometers to check the temperature of both our
workers and visitors to our locations. Our clinics are all equipped
with isolations gowns, gloves and face masks for use, if necessary,
in screening patients. Furthermore, our health clinic staff provide
outreach services to neighbouring villages to ensure that everyone
in the vicinity of our concession areas fully understand the
necessary procedures that must be followed to prevent both the
introduction of the disease and the prevention of infection.
Recently we have increased our alert level to include restrictions
on non-essential domestic travel for our employees.
EPO has donated necessary medical equipment and supplies to the
County Task Force in Grand Bassa, and Sinoe counties, where our
concessions lie and also to the County Task Force of River Cess
County. Furthermore our joint venture partner, Kuala Lumpur Kepong
Berhad ("KLK"), from Malaysia has donated $110,000 together with
other Malaysian oil palm corporates arranged by the Malaysian
government for the purchase of rubber gloves, which is an essential
item in the fight against the Ebola disease.
EPO has joined the Ebola Private Sector Mobilisation Group
("EPSMG") which comprises over 70 companies and 40 public
bodies/NGOs with operations in or near Ebola countries. Like EPO,
these companies have made long term commitments to these countries
and their people and intend to honour these commitments. We have
strong ties to the local communities that depend on our operations.
Despite the challenging environment, we are continuing where
possible with normal operations, with the health and safety of our
employees being the absolute priority at all times.
We have enormous respect for the organisations and selfless
individuals working to contain this outbreak and bring the epidemic
to an end. We are in regular dialogue with the Liberian government,
NGOs and other task forces involved in supporting their work.
Operations of Liberian Palm Developments Ltd ("LPD")
Our operations to date are continuing on as normalised basis as
possible except that it is not easy to travel between places given
the numerous check points where officials are checking for Ebola.
We expect to plant up to 2,500 hectares of oil palm up to the end
of calendar year 2014 over both of our estates, which, although
lower than our target for the year as announced on 18 April 2014,
will be a considerable effort given the Ebola challenges faced by
our staff in Liberia.
The directors believe 2015 will be a transitional year for the
Liberian operations as the Palm Bay estate will move from
previously planted areas of oil palms to new expansion areas. LPD
has committed to ensuring that it has free, prior and informed
consent from the communities in which it operates before any
development work is undertaken at these sites. Accordingly, the
government inspectors from the Liberian Department of Agriculture
will be involved in the process. At present that process
understandably has been slowed down by the Ebola virus on the basis
there are certain restrictions on the free movement of persons
travelling in the country.
Geoffrey Brown, Executive Director of EPO (who is currently in
Liberia), commented:
"Ebola is without doubt a horrific virus. But it is a virus that
with the right understanding, precautions and processes in place
should be avoidable and containable. We very much welcome the
support of the international community to help countries such as
Liberia and that gives EPO and its employee's great confidence.
"Our employees are our most significant asset and it is
testament to their dedication that our operations at our estates
continue as best we can. EPO is dedicated to supporting the
Liberian government and the communities in which we operate in
order to flight Ebola."
- END -
For further information, please visit www.epoil.co.uk or
contact:
Equatorial Palm Oil plc +44 (0) 20 7493
Geoffrey Brown (Executive Director) 7671
Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409
James Harris / Andrew Emmott / James Bellman 3494
Mirabaud Securities LLP (Broker) +44 (0) 20 7484
Peter Krens 3510
Notes to editors:
Equatorial Palm Oil plc is an AIM listed crude palm oil
developer and producer with palm oil estates in Liberia, West
Africa. The Company was founded in 2005 and is focused on becoming
a global, sustainable producer of high quality palm oil to regional
and international markets.
With a significant land position in Liberia through its
operating subsidiary LPD, the Company is geographically well
positioned to serve the international and regional markets and is
committed to making a positive impact on the communities in which
it operates through investment in local schools, health clinics,
housing and infrastructure.
The Company's largest shareholder and 50:50 joint venture
partner in LPD is KLK. KLK is one of the largest palm oil producers
in the world and the Company will greatly benefit from their many
years of expertise in oil palm development.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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