PAL: Kuala Lumpur Kepong Berhad: Statement re Possible Offer

  PAL: Kuala Lumpur Kepong Berhad: Statement re Possible Offer

UK Regulatory Announcement

LONDON

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE
A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

22 October 2013

                           Equatorial Palm Oil PLC

                           ("EPO" or the "Company")

                         Possible offer consideration

In its announcement of 15 October 2013, the board of EPO noted early stage
discussions with Kuala Lumpur Kepong Berhad ("KLK") regarding the funding of
EPO's joint venture, Liberian Palm Developments Limited ("LPD"), which may or
may not lead to an offer of funding for LPD and which may or may not include
an offer for all or part of the Company. LPD is a joint venture with Biopalm
Energy Limited ("Biopalm").

KLK confirms that, if it were to make an offer for EPO, the consideration is
likely to be solely in cash.

There can be no certainty that any offer for EPO will be made, nor as to any
other terms of any such offer should one be forthcoming, nor can there be any
certainty that any funding will be provided by KLK as a result of these
discussions. This announcement does not amount to a firm intention to make an
offer under Rule 2.7 of the City Code on Takeovers and Mergers (the "Code").

Enquiries:

Lincoln International LLP (Financial Adviser)
                                               +44 20 7022 9880
Julian Tunnicliffe / Harry Kalmanowicz

Lincoln International LLP which is regulated in the United Kingdom by The
Financial Conduct Authority is acting for KLK in relation to the matters
described in this announcement and is not advising any other person, and
accordingly will not be responsible to anyone other than KLK for providing the
protections afforded to customers of Lincoln International LLP or for
providing advice in relation to the matters described in this announcement.

The directors of KLK accept responsibility for the information contained in
this announcement. To the best of their knowledge and belief (having taken all
reasonable care to ensure that such is the case), the information contained in
this announcement for which they are responsible is in accordance with the
facts and does not omit anything likely to affect the import of such
information.

Disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of
any class of relevant securities of an offeree company or of any securities
exchange offeror (being any offeror other than an offeror in respect of which
it has been announced that its offer is, or is likely to be, solely in cash)
must make an Opening Position Disclosure following the commencement of the
offer period and, if later, following the announcement in which any securities
exchange offeror is first identified. An Opening Position Disclosure must
contain details of the person's interests and short positions in, and rights
to subscribe for, any relevant securities of each of (i) the offeree company
and (ii) any securities exchange offeror(s). An Opening Position Disclosure by
a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm
(London time) on the 10th business day following the commencement of the offer
period and, if appropriate, by no later than 3.30 pm (London time) on the 10th
business day following the announcement in which any securities exchange
offeror is first identified. Relevant persons who deal in the relevant
securities of the offeree company or of a securities exchange offeror prior to
the deadline for making an Opening Position Disclosure must instead make a
Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1%
or more of any class of relevant securities of the offeree company or of any
securities exchange offeror must make a Dealing Disclosure if the person deals
in any relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the dealing
concerned and of the person's interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree company and
(ii) any securities exchange offeror, save to the extent that these details
have previously been disclosed under Rule 8. A Dealing Disclosure by a person
to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London
time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding,
whether formal or informal, to acquire or control an interest in relevant
securities of an offeree company or a securities exchange offeror, they will
be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by
any offeror and Dealing Disclosures must also be made by the offeree company,
by any offeror and by any persons acting in concert with any of them (see
Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant
securities Opening Position Disclosures and Dealing Disclosures must be made
can be found in the Disclosure Table on the Takeover Panel's website at
www.thetakeoverpanel.org.uk, including details of the number of relevant
securities in issue, when the offer period commenced and when any offeror was
first identified. You should contact the Panel's Market Surveillance Unit on
+44 (0)20 7638 0129 if you are in any doubt as to whether you are required to
make an Opening Position Disclosure or a Dealing Disclosure.

Contact:

Kuala Lumpur Kepong Berhad