Equatorial Palm Oil plc Result of GM and change of registered office (2359L)

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                                      [phone] 
 Brandon Hill Capital Limited 
  (Broker to the Placing) 
  Jonathan Evans/Oliver Stansfield                  [phone] 
 

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END

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January 11, 2021 05:16 ET (10:16 GMT)