Business
First Day of Dealings on AIM
First Day of Dealings on AIM.
About this update from Capital Metals Plc
[{"type":"text","content":"\n RNS Number : 7093H Equatorial Palm Oil 26 February 2010 \n\nEquatorial Palm Oil plc / Index: AIM / Epic: PAL / Sector: Food Producers\n26 February 2009\nEquatorial Palm Oil plc ('EPO' or 'the Company')\nFirst Day of Dealings on AIM\n \nEquatorial Palm Oil plc, aiming to become a sustainable, low-cost producer of crude palm oil ('CPO'), is listing on AIM today. The Company has raised approximately £6.5 million before expenses by way of a placing of 37,118,000 new Ordinary Shares at 17.5 pence per share ('the Placing'), giving it a market capitalisation of approximately £14.3 million on Admission. The money raised will be used to develop sustainable palm oil plantations and a CPO processing operation in Liberia, where the Company controls circa 169,000 hectares of land. Mirabaud Securities LLP and Shore Capital Stockbrokers Limited are Joint Brokers to the Company and Shore Capital and Corporate Limited is its Nominated Adviser.\n \nOverview\n \n· Objective to become a major producer of sustainable, low-cost CPO\n· Seeking admission to AIM in order to have access to equity capital markets and raising\n approximately £6.5 million before expenses\n· Extensive land bank of circa 169,000 hectares, approximately 89,000 held under two 50 year\n leases ratified by the Government of Liberia\n· Proven suitability for sustainable development of oil palm plantations located near the coast in\n Liberia, West Africa\n· Three core business activities: the rehabilitation of existing oil palm plantations to provide early\n cashflow; the development of new plantations; and the development of out-grower small holdings\n· Operating in Liberia provides low cost production environment, immediate access to the West\n African palm oil market and stable political environment\n· Major interest in development of Liberian palm oil industry by international palm oil producers\n such as Sime Darby\n· Growth market - demand of CPO forecast to grow by an annual...