Bond Conversion & Acquisition Update (6422E)
June 01 2012 - 6:45AM
UK Regulatory
TIDMPALM
RNS Number : 6422E
Asian Plantations Limited
01 June 2012
1 June 2012
Asian Plantations Limited
("APL" or the "Company")
Bond Conversion &
Acquisition Update
Asian Plantations Limited (LSE: PALM), a palm oil plantation
company with operations in Malaysia, announces that the holder of
its 1.75 per cent. US$1,000,000 convertible unsecured bond due 2014
(the "Convertible Bond") has notified the Company of its
conversion, in accordance with the terms previously announced on 19
November 2010. The Convertible Bond has been converted into 313,383
new ordinary shares ("New Shares") of no par value in the
Company.
Application has been made to the London Stock Exchange plc for
the New Shares to be admitted to trading on AIM ("Admission") and
it is expected that dealings in the New Shares will commence on 7
June 2012, following which the enlarged issued share capital of the
Company will total 46,511,134 Ordinary Shares. The Company does not
hold any shares in treasury.
Acquisition update
Further to the announcement of 28 February 2012, the Company
announces that it is no longer proposing to pursue the acquisition
of a 60% stake in a Malaysian company with 9,000 titled hectares
and 8,000 leased hectares. The Company continues to assess several
potential opportunities, with the intention of acquiring further
wholly-owned parcels of land, and further announcements will be
made in due course.
For further information contact:
Asian Plantations Limited
Graeme Brown, Joint Chief Executive Tel: +65 6325 0970
Officer
Dennis Melka, Joint Chief Executive
Officer
Strand Hanson Limited
James Harris Tel: +44 (0) 20 7409 3494
Paul Cocker
Liam Buswell
Panmure Gordon (UK) Limited
Tom Nicholson Tel: +65 8614 7553
Callum Stewart Tel: +44 (0) 20 7459 3600
Macquarie Capital (Europe) Limited
Steve Baldwin Tel: +44 (0) 20 3037 2000
Dan Iacopetti
Bankside Consultants
Simon Rothschild Tel: +44 (0) 20 7367 8871
This information is provided by RNS
The company news service from the London Stock Exchange
END
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