Equatorial Palm Oil plc Result of GM and change of registered office (2359L)
January 11 2021 - 04:16AM
UK Regulatory
TIDMPAL
RNS Number : 2359L
Equatorial Palm Oil plc
11 January 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EUREGULATION 596/2014 ("MAR"). UPON PUBLICATION OF
THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN.
11 January 2021
EQUATORIAL PALM OIL plc (to be renamed Capital Metals plc)
("EPO" or the "Company")
Result of GM and change of registered office
Equatorial Palm Oil plc (AIM: PAL) announces, further to its
announcement on 23 December 2020 that at a General Meeting ("GM")
held earlier today, the following resolutions were duly approved by
shareholders:
1. the approval of the Acquisition of Capital Metals
Limited;
2. the approval of the appointment of Gregory Martyr as a
Director of the Company;
3. the approval of the appointment of Anthony Samaha as a
Director of the Company;
4. the approval of the appointment of James Leahy as a Director
of the Company;
5. the authorisation for the Directors to allot the New Ordinary
Shares and options pursuant to the Share Option Plan;
6. the consolidation of every 20 Existing Ordinary Shares into
one New Ordinary Share;
7. the disapplication of statutory pre-emption provisions to
allow the Directors in certain circumstances to allot New Ordinary
Shares in connection with the Proposals and the Share Option Plan
for cash other than on a pre-emptive basis; and
8. the approval of the Change of Name to Capital Metals plc.
As outlined in the Admission Document dated 23 December 2020, 18
ordinary shares have been allotted at the nominal value. The record
date for the Share Consolidation is 600 p.m. today and Admission of
22,813,876 New Ordinary Shares of 0.2 pence each (to replace the
existing 456,277,520 existing ordinary shares of 0.01 pence each)
is expected on 12 January 2021. The Change of Name is expected to
become effective shortly (at which point a further announcement
will be made), and the allotment of the Placing Shares, the
Subscription Shares and Consideration Shares will take place on 12
January 2021.
It is expected that the readmission of the Enlarged Issued
Ordinary Share Capital to trading on AIM ("Admission") will take
place at 8.00 a.m. on 13 January 2021.
In respect of the Acquisition, the Company can confirm that the
CML Minority Acquisition Agreement was entered into on 8 January
2021, on the terms explained in the Admission Document. Prior to
entering into this agreement, the Company received further
acceptances from holders of shares in Capital Metals Limited
meaning that the Company will acquire in aggregate 99% of the
entire issued share capital of Capital Metals Limited (rather than
98.15%).
The Company's shares will remain suspended until Admission.
Change to Registered Office
In addition, the Company's registered office has changed with
immediate effect to 1 King Street, Office 3.05, London, EC2V
8AU.
Capitalised terms in this announcement, unless otherwise
defined, have the meaning given to them in the announcement dated
23 December 2020.
For further information, please visit www.epoil.co.uk or
contact:
Equatorial Palm Oil plc (to
be renamed Capital Metals plc)
Michael Frayne (Executive Chairman) + 44 (0) 20 7317 6800
SPARK Advisory Partners (Nominated
Adviser)
Neil Baldwin +44 (0) 20 3368 3554
Brandon Hill Capital Limited
(Broker to the Placing)
Jonathan Evans/Oliver Stansfield +44 (0) 20 3463 5000
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END
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