New Britain Palm Oil Limited BOARD AND MANAGEMENT CHANGES (8292H)

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RNS Number : 8292H

New Britain Palm Oil Limited

18 March 2015

18 March 2015

New Britain Palm Oil Limited

("NBPOL", the "Group" or the "Company")

BOARD AND MANAGEMENT CHANGES

New Britain Palm Oil Limited (LSE: NBPO; POMSoX: NBO), one of the world's largest fully integrated producers of sustainable palm oil, announces the following Board and management changes.

Mr Nick Thompson will step down from his role as Chief Executive Officer and Executive Director of NBPOL with effect from 18(th) June 2015. Mr Thompson will take on an advisory role with Sime Darby Plantation Sdn Bhd based in Kuala Lumpur. The Board has initiated the search for a suitable replacement for Mr Thompson as CEO of NBPOL.

Dr. Simon Lord, Director of Sustainability for NBPOL, has been appointed as Executive Vice President, Group Sustainability & Quality Management for Sime Darby Berhad based in Kuala Lumpur. Dr. Lord's appointment will be effective from 1(st) April 2015.

Dato' Henry Barlow, Chairman of NBPOL, commented:

"During his 31 years with NBPOL and 21 years as its Managing Director/CEO, Nick has overseen the remarkable transformation of NBPOL from a modest 15,400 Ha oil palm plantation on the island of New Britain to a world class producer of sustainable and traceable palm oil. He leaves the Company in excellent shape and, in doing so, passes the baton to a high quality management team who have benefited greatly from his mentorship over the years. Nick should be enormously proud of his personal contribution to NBPOL and indeed the oil palm industry in Papua New Guinea.

Dr. Lord leaves the Company after 20 years of valuable service to pursue a new role overseeing sustainability and quality management for the Sime Darby Group. He commenced his career with the Company in Research & Development and in more recent years has been integral to building NBPOL's reputation as an industry leader in sustainability. Dr. Lord's appointment will further strengthen Sime Darby's own sustainability credentials.

On behalf of the NBPOL Board, shareholders and employees, we sincerely thank Nick and Simon for their valuable contribution to NBPOL over many years. We are extremely pleased that these two high calibre individuals will be joining the Sime Darby team."

Enquiries:

 
        New Britain Palm Oil Limited             Tel (Singapore): +65 6227 
         Nick Thompson (Chief Executive           6247 
         Officer) 
         Amir Mohareb (Chief Financial 
         Officer) 
         Ben Oakley (Corporate Development 
         and IR) 
        Newgate Communications                   Tel: [phone] 
         (PR Adviser)                             Email: [e-mail] 
         James Benjamin 
         Clotilde Gros 
         Georgia Lewis 
 

Website: www.nbpol.com.pg

Notes to editors:

NBPOL is a large scale integrated industrial producer of sustainable palm oil in Australasia, headquartered in Papua New Guinea ('PNG'). It has over 79,800 hectares of planted oil palm estates, over 7,700 hectares of sugar cane and a further 9,200 hectares of grazing pasture; twelve oil mills; two refineries, one in PNG, and one in Liverpool, UK; and a seed production and plant breeding facility. The Company is listed on both the Main Market of the London Stock Exchange and on the Port Moresby Stock Exchange in PNG.

NBPOL is fully vertically integrated, producing its own seed (which it also sells globally), planting, cultivating and harvesting its own land, and processing and refining palm oil (both in PNG and the UK). It also contracts directly with its end customers in the EU and arranges shipping of its products.

NBPOL has high regard for the importance of its sustainability credentials. It has achieved 100% certification of all estates, mills and smallholders to the Roundtable on Sustainable Palm Oil ('RSPO') standard. NBPOL continues to be active in proving its performance through its certification to ISO 14001 and its close involvement with other innovative initiatives. The Company is a certified supplier of sustainable palm oil from its entire production base in PNG and Solomon Islands, under the RSPO guidelines.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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