Holdings in Company / Directors dealings
October 29 2010 - 5:31AM
UK Regulatory
TIDMPALM
RNS Number : 2555V
Asian Plantations Limited
29 October 2010
29 October 2010
Asian Plantations Limited
("APL" or the "Company")
Holdings in the Company and Directors' Dealings
Asian Plantations Limited (LSE: PALM), a palm oil plantation company with
operations in Malaysia, has been notified that the KSC Closed-Ended Plantation
Fund ("KSC") disposed of, on 29 October 2010, 2,239,000 ordinary shares of no
par value in the Company ("Ordinary Shares"), representing approximately 6.7 per
cent. of APL's issued ordinary share capital (the "Disposal").
Following the Disposal, KSC no longer holds a notifiable interest in the issued
share capital of the Company.
Concurrent with the Disposal:
Dennis Melka and Graeme Brown, Joint Chief Executive Officers of the Company,
each acquired 75,000 Ordinary Shares at a price of 125 pence per Ordinary Share,
representing, in aggregate, 0.45 per cent. of the issued share capital of the
Company. Following this increase in holdings, Dennis Melka and Graeme Brown
are now each beneficially interested in 2,101,001 Ordinary Shares, representing
approximately 12.6 per cent. of the issued ordinary share capital of the
Company, respectively.
The Asian Agricultural Fund I ("AAF"), managed by Asian Agri Capital Limited,
also acquired 160,000 Ordinary Shares, representing 0.48 per cent. of the issued
share capital of the Company. Following this increase in holdings, AAF is now
beneficially interested in 1,038,000 Ordinary Shares, representing 3.1 per cent.
of the issued ordinary share capital of the Company.
Dennis Melka, APL's Joint Chief Executive Officer, commented:
"KSC was our original private equity investor in 2008, when the Company had less
than 4,800 hectares of land, all of which was unplanted at the time. We thank
them for their support and partnership in growing the Company to its current
position. The Disposal has allowed the Company to significantly broaden its
institutional investor base in the London market and we are pleased to welcome
these new shareholders to the Company."
For further information contact:
+---------------------------------+---------------------------+
| Asian Plantations Limited | |
| Dennis Melka, Joint Chief | |
| Executive Officer | Tel: +65 9878 4171 |
| Graeme Brown, Joint Chief | |
| Executive Officer | Tel: +60 19 856 0221 |
| | |
+---------------------------------+---------------------------+
| Strand Hanson Limited | |
| James Harris | Tel: +44 (0)20 7409 3494 |
| Paul Cocker | |
| Liam Buswell | |
| | |
+---------------------------------+---------------------------+
| Panmure Gordon (UK) Limited | |
| Tom Nicholson | Tel: +44 (0) 20 7459 3600 |
| Edward Farmer | |
| | |
+---------------------------------+---------------------------+
| Bankside Consultants | |
| Simon Rothschild | Tel: +44 (0)20 7367 8871 |
| Louise Mason | Tel: +44 (0)20 7367 8872 |
| | |
+---------------------------------+---------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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