Last checked at 16 Jun 2016 15:00
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF LOCAL SECURITIES LAWS OR REGULATIONS.
DekelOil Public Limited / Index: AIM / Epic: DKL / Sector: Food Producers
DekelOil Public Limited
('DekelOil' or the 'Company')
Result of General Meeting,
Issue of Equity,
Share Consolidation and
Total Voting Rights
Result of General Meeting
DekelOil is pleased to announce that, at the General Meeting held earlier today, all of the Resolutions proposed were duly passed by Shareholders.
Issue of Equity
Application has been made to the London Stock Exchange for the admission of the 933,222,080 ordinary shares of €0.00003367 each ('Ordinary Shares') to be admitted to trading on AIM. Admission is expected to take place at 8.00 a.m. on 17 June 2016.
Share Consolidation
The Company confirms that the Share Consolidation of the Ordinary Shares of the Company, whereby every 10 Ordinary Shares will be consolidated into 1 New Ordinary Share has been approved. Any fractional entitlements arising from the Share Consolidation will be aggregated and sold in the market and the net proceeds will be retained for the benefit of the Company.
As all Ordinary Shares will be consolidated, each shareholder's shareholding as a proportion of the total number of issued ordinary shares in the share capital of the Company will be the same immediately before and after the implementation of the share consolidation (save in respect of fractional entitlements).
The full terms and explanatory notes of the consolidation are set out in the full Notice of General Meeting which has been sent to Shareholders.
Total Voting Rights
In accordance with the FCA's Disclosure Rule and Transparency Rules, following the Share Consolidation, the Company's share capital and total voting rights will comprise 247,704,894 ordinary shares of €0.0003367 each. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company will be 247,704,894.
The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.
Capitalised terms used in this announcement have the same meaning as set out in the Circular.
**ENDS**
For further information please visit the Company's website www.dekeloil.com or contact:
DekelOil Public Limited Youval Rasin Shai Kol Lincoln Moore | +44 (0) 207 236 1177 |
Cantor Fitzgerald Europe (Nominated Adviser and Broker) Andrew Craig Richard Salmond | +44 (0) 207 894 7000 |
Beaufort Securities Limited (Broker) Elliot Hance
|
+44 (0) 207 382 8300 |
Optiva Securities Limited (Broker) Christian Dennis Jeremy King | +44 (0) 203 137 1903 |
St Brides Partners Ltd (Investor Relations) Elisabeth Cowell Frank Buhagiar | +44 (0) 207 236 1177 |
Notes:
DekelOil Public Limited is a low cost producer of palm oil in West Africa, which it is focused on rapidly expanding. To this end, it has a 51% interest in one of the largest oil processing mills based in Côte d'Ivoire, which has a capacity of 70,000 tons of CPO. Feedstock for the Mill comes from several co-operatives and thousands of smallholders, however it also has nearly 1,900 hectares of its own plantations. Furthermore, it has a world-class nursery with a 1 million seedlings a year capacity.