Completion of Acquistion

 

TIDMPALM 
 
RNS Number : 8743E 
Asian Plantations Limited 
31 December 2009 
 

 
 
Asian Plantations Limited 
("APL" or the "Company") 
 
 
Completion of Acquisition 
 
 
 
 
Asian Plantations Limited (LSE: PALM), a palm oil plantation company with 
operations in Malaysia, is pleased to confirm that it has completed the 
acquisition announced on 15 December 2009. The Company is now the legal owner of 
the entire issued share capital of Jubilant Paradise Sdn Bhd and Incosetia Sdn 
Bhd, which owns a partly developed palm oil plantation totalling approximately 
5,850 hectares in Sarawak, Malaysia (the "Acquisition"). 
 
 
The terms of the Acquisition remain consistent with those announced previously. 
 
 
Graeme Brown, APL's Joint Chief Executive Officer, commenting on the completion 
of the Acquisition, said: 
 
 
"We are delighted to complete the Acquisition ahead of the previously announced 
timetable. In addition to a significantly enlarged land bank, APL is now also 
revenue generating as we are collecting fresh fruit bunches from Incosetia's 
planted fields. We have already selected the new nursery area for Incosetia and 
the first seedlings arrive in February for poly-bag planting in preparation for 
in-field planting by year-end 2010. 
 
 
In tandem with the completion of the Acquisition, the Company has also conducted 
a social survey of the adjacent communities to the Incosetia plantation and will 
initiate, in February, a gravity-fed clean water system for approximately 25 
families in two separate longhouses. This water system will be similar to that 
built by the Company for the Apa Gun communities outside the BJ plantation. The 
Apa Gun community project supplies clean water, via a 2.1 kilometre piping 
system, to 30 families in one longhouse community located approximately 14 
kilometres from the BJ plantation." 
 
 
 
 
For further information contact: 
 
 
+---------------------------------------+--------------------------------+ 
| Asian Plantations Limited             | Tel:  [phone]            | 
| Dennis Melka, Joint Chief Executive   |   Tel:  [phone]         | 
| Officer                               |                                | 
| Graeme Brown, Joint Chief Executive   |                                | 
| Officer                               |                                | 
|                                       |                                | 
+---------------------------------------+--------------------------------+ 
| Strand Hanson Limited                 |       Tel: [phone] | 
| James Harris                          |                                | 
| Paul Cocker                           |                                | 
|                                       |                                | 
+---------------------------------------+--------------------------------+ 
| Mirabaud Securities LLP               |       Tel: [phone] | 
| Rory Scott                            |                                | 
|                                       |                                | 
+---------------------------------------+--------------------------------+ 
| Bankside Consultants                  |       Tel: [phone] | 
| Simon Rothschild                      |       Tel: [phone] | 
| Oliver Winters                        |                                | 
|                                       |                                | 
+---------------------------------------+--------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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