1st Nov 2019 11:25
(Alliance News) - Equatorial Palm Oil PLC on Friday said Non-Executive Chair Michael Frayne has been made executive chair as the firm's executive director has stepped down.
Shares in the crude palm oil developer and producer were down 14% at 0.90 pence in London on Friday.
Geoffrey Brown has retired from his executive position with immediate effect and is now a non-executive director. The firm did not provide a reason for Brown's retirement from the role.
Equatorial Palm Oil's estates are located on the Liberian coast. Its first export shipment of crude palm oil took place September 18 from Liberia's port of Buchanan, with the announcement sparking a share price surge at the time to 1.66p from 0.80p before the shipment.
By Anna Farley; [email protected]
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