TIDMNBPO
RNS Number : 8693L
New Britain Palm Oil Limited
19 January 2009
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19 January 2009
NEW BRITAIN PALM OIL LIMITED
Director's Shareholding
New Britain Palm Oil Limited (the "Company") announces that following the FSA's
statement of 9 January 2009 in respect of "Disclosure and Model Code obligations
in respect of the use of shareholdings as security" and an internal review of
shareholdings and dealings by the Company's directors and persons discharging
managerial responsibilities and their respective connected persons, Pacific Rim
Plantation Services Pte. Limited ("Pacific Rim") has confirmed to the Company
that 6,630,000 ordinary shares of no par value in the capital of the Company
("Ordinary Shares"), representing approximately 4.57 per cent. of the Company's
issued share capital, held by it are subject to charges in favour of Pacific
Rim's banks. One of these charges was entered into in July 2007, prior to the
Company's admission to the Official List in December 2007, in respect of
5,880,000 Ordinary Shares. Following the review referred to above, Pacific Rim
notified the Company on 15 January 2009 that it had entered into that charge and
that a subsequent charge in respect of 750,000 Ordinary Shares was entered into
on 24 June 2008. The Company confirms that it was not in a close period when the
second charge was entered into.
Alan Chaytor, an executive director of the Company, is the 100 per cent.
beneficial owner of Pacific Rim and as such Pacific Rim is deemed a connected
person of Alan Chaytor.Pacific Rim continues to hold an additional 69,000,
representing less than 0.01 per cent. of the Company's issued share capital,
Ordinary Shares which are not subject to any third party charges. Pacific Rim
has confirmed that it is not in default of any of its banking commitments and
that it has no current intention of selling any of its shares in the Company.
Enquiries:
+----------------------------------+-----------------------------------------+
| Gavin Anderson (Financial | Tel: +44(0)20 7554 1400 |
| PR Adviser) | Email: nbpol@gavinanderson.co.uk |
| Ken Cronin | |
| Janine Brewis | |
| Anthony Hughes | |
| | |
+----------------------------------+-----------------------------------------+
| New Britain Palm Oil | Tel: +44(0)20 7554 1400 |
| Limited | |
| Nick Thompson | |
| Alan Chaytor | |
| David Dann | |
| | |
+----------------------------------+-----------------------------------------+
| Singer Capital Markets | Tel: +44(0)20 3205 7500 |
| Limited | |
| Nicholas How | |
| Richard Savage | |
| | |
+----------------------------------+-----------------------------------------+
Website: www.nbpol.com.pg
This information is provided by RNS
The company news service from the London Stock Exchange
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