24 February 2014
EQUATORIAL PALM OIL plc
(“EPO” or the “Company”)
Operational Update &
Appointment of Directors
Equatorial Palm Oil plc, (AIM: PAL), the AIM listed palm oil development and production company
with operations in Liberia, West Africa provides the following update to the market:
Operational Update

2014 planting target of 5,000 hectares: 3,000 hectares at Palm Bay estate and 2,000
hectares at Butaw estate

Full activities have now resumed at both estates following receipt of loan funds and
proceeds of the subscription shares from KL–Kepong International Ltd., a wholly owned
subsidiary of Kuala Lumpur Kepong Berhad ("KLK")

KLK now the largest shareholder in EPO and the 50/50 joint venture partner with EPO in
the operating company Liberian Palm Developments Limited (“LPD”)

Initial land contractors selected and have been operating since December 2013

KLK’s experienced personnel are supporting EPO management in the operational
running of the Liberian oil palm development projects

Expansion of Liberian workforce continues to support reinvigorated development activity
Changes to Board of Directors
The Board is delighted to announce the appointments of Mr Lee Oi Hian and Mr Teh Sar Moh
Nee as Non-Executive Directors with immediate effect. Mr Lee Oi Hian is the current Chief
Executive Officer of KLK, listed on the Bursa Malaysia with a market capitalisation of
approximately £4.5bn (as at 30 January 2014), having joined the Board of KLK on 1 February
1985. Mr Teh Sar Moh Nee is currently the Regional Director (Peninsular Malaysia) of the KLK
Group and is responsible for all of KLK’s plantations in Peninsular Malaysia. Short biographies of
both new directors are set out below.
Further, the Company notes the retirement of Mr Anthony Samaha as a director of the Company
with immediate effect. Mr Samaha was a founding director of EPO in 2005 and has provided
invaluable assistance including as Chairman of the Audit Committee. The Company wishes him
well in his future endeavours.
Michael Frayne and Geoffrey Brown remain as Executive Directors of Company.
Michael Frayne, Executive Chairman of EPO, commented:
“The EPO Board welcomes Mr Lee Oi Hian and Mr Teh Sar Moh Nee who have transformed KLK
into one of the leading oil palm companies in the world. Their knowledge and experience will be
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invaluable as we develop our estates in Liberia. I would also like to acknowledge the contribution
of Mr Anthony Samaha who is retiring as a director for his tireless efforts.
2014 will be a transformational year for the Company now that it has the support and funding
from its largest shareholder KLK. The target planting of over 5,000 hectares this year supports
the large scale planting programme that the Company put in place 2 years ago. The team in
Liberia will greatly benefit from the experience of KLK as we look to ramp up planting rates in the
coming years.”
Mr Lee Oi Hian, aged 63
Mr Lee Oi Hian has been the Chief Executive Officer of KLK since 2001. He joined the Company
in 1974 as an executive and was appointed to the Board of KLK in 1985. In 1988, he was
appointed as Managing Director and became Chairman of KLK Group in 1993. He subsequently
held the post of joint Chairman and Chief Executive Officer until 2008, when he relinquished his
role as Chairman, remaining as Chief Executive Officer of the Group.
Mr Lee Oi Hian has served in various positions in the plantations industry, including the
Malaysian Palm Oil Council, the Malaysian Palm Oil Board and the Malaysian Cocoa Board. He
is also currently the Chairman of Batu Kawan Berhad, and a trustee of several charitable
organisations.
Mr Lee Oi Hian is also an Honorary Fellow of the Malaysian Oil Scientists’ and Technologies’
Association (MOSTA) and Honorary Fellow of the Incorporated Society of Planters (FISP).
Current directorships
Batu Kawan Berhad
Kuala Lumpur Kepong Berhad
Applied Agricultural Resources Sdn Bhd
Arusha Enterprise Sdn Bhd
Avery Holdings International Inc
Champion Brave Sdn Bhd
Congleton Holdings Sdn Bhd
Di-Yi Sdn Bhd
Davos Life Science Pte Ltd
Gerizim Holdings Pte Ltd
Grateful Blessings Inc
KLK Farms Pty Ltd
KLK Overseas Investments Ltd
Kolb Distribution AG
Kulumpang Development Corporation Sdn Bhd
Malay Rubber Plantations (Malaysia) Sdn Berhad
Mount Gerizim Farms Pty Ltd
Palm-Oleo Sdn Bhd
Perdana Leadership Foundation
Perfect Portfolio (S) Pte Ltd
Perfect Portfolio Sdn Bhd
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Past directorships within the last 5 years
Davos Life Science Sdn Bhd
Star Foundation
Esterol Sdn Bhd
Tan Sri Lee Loy Seng Foundation
Dr. W. Kolb Holding AG (Merged
into Kolb Distribution AG on 12 December
2013)
Royal Perak Golf Club Berhad
Taiko Plantations Sendirian Berhad
Taiko-Straits Developments Sdn Bhd
Wan Hin Investment Sdn Bhd
Wan Hin Plantations Sdn Bhd
Yayasan KLK
Yayasan Tuanku Bainun
Mr Teh Sar Moh Nee, aged 58
Mr Teh Sar Moh Nee started his planting career in 1976 in Sime Darby Plantation Berhad before
joining the KLK Group in 1984. He serves as Regional Director (Peninsular Malaysia) of the KLK
Group and has also held the position of Chief Executive Officer at Ladang Perbadanan-Fima
Berhad since May 2008.
Mr Teh Sar Moh Nee is a Council member and 2nd Deputy President of the Malaysian
Agricultural Producers Association (“MAPA”) and also sits on MAPA's Finance/Executive
Committee and Negotiating Committee. Mr Teh Sar Moh Nee attended the Senior Management
Programme at Harvard Business School and Senior Executive Programme at Stanford University
Business School.
Current directorships
Past directorships within the last 5 years
Applied Agricultural Resources Sdn Bhd
The Kuala Pertang Syndicate Ltd (Dissolved on
2 December 2013)
Gunong Pertanian Sdn Bhd
The Shanghai Kelantan Rubber Estates (1925)
Ltd (Dissolved on 1 February 2013)
Kulumpang Development Corporation Sdn Bhd
K.H. Syndicate Limited (Dissolved on 16 April
2012)
Ladang Perbadanan-Fima Berhad
Rubber Fibreboards Sdn Bhd
Uni-Agro Multi Plantations Sdn Bhd
There is no further information required to be disclosed pursuant to Schedule 2(g) of the AIM
Rules.
- END For further information, please visit www.epoil.co.uk or contact:
Equatorial Palm Oil plc
Michael Frayne (Chairman)
+44 (0) 20 7493 7671
Strand Hanson Limited (Nominated Adviser)
+44 (0) 20 7409 3494
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James Harris / Andrew Emmott / James Bellman
Mirabaud Securities LLP (Broker)
Peter Krens
+44 (0) 20 7484 3510
Notes to editors:
Equatorial Palm Oil plc is an AIM listed crude palm oil developer and producer with palm oil
estates in Liberia, West Africa. The Company was founded in 2005 and is focused on becoming
a global, sustainable producer of high quality palm oil to regional and international markets.
With a significant land position in Liberia through its operating subsidiary Liberian Palm
Developments Limited (LPD), the Company is geographically well positioned to serve the
international and regional markets and is committed to making a positive impact on the
communities in which it operates through investment in local schools, health clinics, housing and
infrastructure.
The Company’s largest shareholder in EPO and 50:50 joint venture partner in LPD is Kuala
Lumpur Kepong Berhad ("KLK"). KLK is one of the largest palm oil producers in the world and
the Company will greatly benefit from their many years of expertise in oil palm development.
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