Business
Indonesian commodity exporting
M.P. Evans Group PLC has noted the Indonesian President's announcement regarding proposed changes to commodity exports, but states that detailed regulations are not yet published and the Group is monitoring developments. As all of the Group's sustainable palm oil output is sold locally within Indonesia, any changes to export mechanisms will not have a direct impact, though indirect impacts on domestic pricing are possible. The Board remains confident in the long-term fundamentals of the Indonesian palm oil sector and the resilience of its operations. Disclaimer*
About this update from M.p. Evans Group Plc
M.P. EVANS GROUP PLC ("the Group" or "M.P. Evans") PLANS FOR EXPORT OF INDONESIAN COMMODITIES M.P. Evans, a producer of sustainable palm oil, notes today's announcement by the President of Indonesia, Prabowo Subianto, regarding proposed changes to the export of crude palm oil and other commodities. At this stage, the detailed implementing regulations have not yet been published, and the Group is monitoring developments closely with its local management team, advisers and industry partners. The Group's operations are fully compliant with Indonesian laws and regulations, and it has longstanding relationships with local stakeholders and government authorities. All the Group's output is sold locally in Indonesia, and a significant part of Indonesian production is consumed domestically. Any changes to export mechanisms will not have a direct impact on the Group. There may be some indirect impact as prices available for the Group's output adjust to take account of new arrangements. The Board remains confident in the long-term fundamentals of the Indonesian palm oil sector and in the resilience and efficiency of the Group's operations. The Board will provide further updates should it be necessary to do so. Enquiries: M.P. Evans Group PLC Tel: +44 (0) 1892 516333 Peter Hadsley-Chaplin, chairman Matthew Coulson, chief executive Luke Shaw, chief financial officer Cavendish Capital Markets (Nomad and joint broker) Tel: +44 (0) 20 7220 0500 Matt Goode, George Lawson (Corporate finance) Harriet Ward (ECM) Canaccord Genuity Limited (Joint broker) Tel: +44 (0) 20 7523 4500 Henry Fitzgerald-O'Connor, George Grainger Alma Strategic Communications (Financial PR) Tel: +44 (0)20 3405 0205 Rebecca Sanders-Hewett, Josh Royston, David Ison
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