TIDMNBPO
RNS Number : 1717G
New Britain Palm Oil Limited
02 March 2015
2 March 2015
New Britain Palm Oil Limited
("NBPOL", the "Group" or the "Company")
DIRECTORATE CHANGES
New Britain Palm Oil Limited (LSE: NBPO; POMSoX: NBO), one of
the world's largest fully integrated producers of sustainable palm
oil, announces the following Board changes following completion of
the acquisition by Sime Darby Plantation Sdn Bhd of approximately
98.8% of NBPOL's issued share capital.
Director Resignations
Mr. Antonio Monteiro de Castro, Dato' Kamaruzzaman Abu Kassim
and Mr. Ahamad Mohamad have resigned from the Board of the Company
with immediate effect.
Director Appointments
The following persons are appointed as non-executive directors
of the Company with immediate effect:
(1) Dato' Henry Sackville Barlow was appointed to the Board of
Sime Darby Berhad as an Executive Director on 29 September 2007 and
has been appointed as a Senior Independent Non-Executive Director
since 16 November 2010. He is also a Director of Sime Darby
Plantation Sdn Bhd.
Dato' Barlow has been appointed as the Non-Executive Chairman of
NBPOL with immediate effect.
Dato' Barlow was educated at Eton College and obtained his
Bachelor and Master of Arts degrees from the University of
Cambridge, United Kingdom. He is also a Fellow of the Institute of
Chartered Accountants in England and Wales.
Dato' Barlow is also a Director of a public company, namely, The
International and Commonwealth University of Malaysia Berhad. He
also holds the position of the Honorary Treasurer of the Malaysian
Branch of the Royal Asiatic Society and is a Trustee of the Merdeka
Award Trust.
Dato' Barlow has over 35 years of experience in the Plantation
Industry. He was the Finance Director of Barlow Boustead Estates
Agency Sdn Bhd, Joint Managing Director of Highlands & Lowlands
Berhad and Council Member of the Incorporated Society of Planters.
He served as a Board member of HSBC Bank Malaysia Berhad for more
than 20 years until 2014, including serving on the Board's Audit
Committee and chairing the Risk Management Committee.
Dato' Barlow holds several Committee memberships in the Board
Committees of Sime Darby Berhad namely Governance & Audit
Committee (Chairman), Nomination & Remuneration Committee and
Sustainability Committee (Chairman).
There are no other matters relating to the new director which
would require disclosure under Listing Rule 9.6.13R.
(2) Dato' Che Abdullah @ Rashidi bin Che Omar was appointed to
the Board of Directors of Sime Darby Plantation Sdn Bhd on 31
December 2010. He graduated with a Diploma in Plantation Management
from Universiti Teknologi Mara.
Dato' Rashidi has over 45 years of plantation experience. He
began his career with Lembaga Kemajuan Tanah Persekutuan (FELDA) as
a Cadet Planter in 1968 and left as a Manager. In 1974, he joined
Kuala Lumpur Kepong Berhad as Assistant Manager and left as Senior
Manager. In 1989, he joined Austral Enterprise Berhad as a Senior
Manager.
In 1990, Dato' Rashidi joined Tradewinds (M) Berhad as a Manager
in the Plantation Division and was subsequently promoted to General
Manager in 1993. In 1996, he was seconded to Tradewinds Plantation
Services Sdn Bhd and promoted to the position of Senior General
Manager. In 1999, he became the Executive Director of Tradewinds
Plantation Services Sdn Bhd. In 2002, he joined Lembaga Tabung Haji
as its Plantation Director. He was the Managing Director of TH
Plantations Berhad from 2003 to 2009.
Dato' Rashidi holds directorships in several companies, namely
TH Plantations Berhad Group of Companies, Loh & Loh Corporation
Berhad and Tadmax Resources Berhad.
There are no other matters relating to the new director which
would require disclosure under Listing Rule 9.6.13R.
(3) Mr. Rosely Kusip was appointed to the Board of Directors of
Sime Darby Plantation Sdn Bhd on 31 December 2010. He obtained his
Diploma in Agriculture from the College of Agriculture Malaya,
Serdang in 1972.
Mr. Rosely has over 40 years of plantation experience. He
commenced his career with Kumpulan Guthrie Berhad by joining
Highlands & Lowlands Berhad in 1972 as an Assistant Manager. In
1982, he was promoted to Estate Manager and appointed as the
Regional Controller in 1994.
In 1996, he was promoted as the General Manager of Plantation
Division in Kumpulan Guthrie Berhad. Subsequently, he was assigned
to Indonesia as the President Director to lead Minamas Plantation.
In 2003, he joined TSH Resources Berhad as the Group Plantation
Director. In 2006, he assumed the position of Managing Director of
IMC Plantation (Indonesia) of IMC Pan Asia Alliance Pte Ltd. In
2009, he set up his own investment holding company, Erka Inc, to
jointly develop a barging business in Indonesia through PT. Gebari
Medan Segera, which is involved in the barge transportation of
crude palm oil, coal and providing offshore services. He is also
currently employed as an Operations Director of Terence Corp Sdn
Bhd on project basis.
Mr. Rosely holds directorships in several other public companies
namely Innoprise Plantations Berhad and Chemara Palmea Holdings
Berhad.
There are no other matters relating to the new director which
would require disclosure under Listing Rule 9.6.13R.
(4) Tan Sri Dato' Seri Mohd Bakke Salleh is the President &
Group Chief Executive (PGCE) of Sime Darby Berhad. He was appointed
to the Board of Sime Darby Berhad as an Executive Director on 16
November 2010. He is also a Director of Sime Darby Plantation Sdn
Bhd.
Tan Sri Dato' Seri Mohd Bakke holds a Bachelor of Science
(Economics) degree from the London School of Economics, United
Kingdom. He is a Fellow of the Institute of Chartered Accountants
in England and Wales and a member of the Malaysian Institute of
Accountants.
Tan Sri Dato' Seri Mohd Bakke was the Acting PGCE of Sime Darby
Berhad and later assumed the position of PGCE on 27 November 2010.
He also sits on the Boards of Eastern & Oriental Berhad, Sime
Darby Property Berhad, Yayasan Sime Darby, Northern Corridor
Economic Region and Malaysian Industry-Government Group for High
Technology. Tan Sri Dato' Seri Mohd Bakke was the Group President
& Chief Executive Officer of Felda Global Ventures Holdings
Berhad and had also served as the Group Managing Director of Felda
Holdings Berhad, Group Managing Director and Chief Executive
Officer of Lembaga Tabung Haji and a Director, Property Division of
Pengurusan Danaharta Nasional Berhad.
Tan Sri Dato' Seri Mohd Bakke has also worked with several
subsidiaries within the Permodalan Nasional Berhad Group. He was
the Managing Director of Federal Power Sdn Bhd, Managing Director
of Syarikat Perumahan Pegawai Kerajaan Sdn Bhd and Group General
Manager of Island & Peninsular Group.
There are no other matters relating to the new director which
would require disclosure under Listing Rule 9.6.13R.
(5) Datuk Franki Anthony Dass was appointed as the Executive
Vice President of Plantation Division, Sime Darby Berhad on 1
December 2010 and was appointed to the Board of Directors of Sime
Darby Plantation Sdn Bhd on 31 December 2010.
He holds a Bachelor of Science degree majoring in Agriculture
from Universiti Pertanian Malaysia and has attended various
management programmes and MBA programmes at the Asian Institute of
Management and Malaysian Institute of Management.
Datuk Franki has over 30 years of plantation experience. He
started his career as an Assistant Manager in Kumpulan Guthrie
Berhad in 1980. After serving in various postings across Malaysia,
he became the General Manager in 2002 and was promoted to Chief
Operating Officer of PT Minamas Gemilang in Indonesia in 2004.
Subsequently, he was appointed as the Acting Executive Vice
President, Plantation Division of Sime Darby Berhad in May 2010
before assuming his current role as the Executive Vice President of
Plantation Division.
There are no other matters relating to the new director which
would require disclosure under Listing Rule 9.6.13R.
Mr Nick Thompson, Chief Executive Officer of NBPOL,
commented:
"On behalf of the NBPOL Board, shareholders and employees, we
thank Mr. Antonio Monteiro de Castro, Dato' Kamaruzzaman Abu Kassim
and Mr. Ahamad Mohamad for their valuable contribution to our
Company over many years. We wish each of them well for the
future.
At the same time, we welcome our new directors and look forward
to continued growth and success as part of the Sime Darby
family."
Enquiries:
New Britain Palm Oil Limited Tel (Singapore): +65 6227
Nick Thompson (Chief Executive 6247
Officer)
Amir Mohareb (Chief Financial
Officer)
Ben Oakley (Corporate Development
and IR)
Newgate Communications Tel: +44 (0)20 7680 6550
(PR Adviser) Email: nbpol@newgatecomms.com
James Benjamin
Clotilde Gros
Georgia Lewis
Website: www.nbpol.com.pg
Notes to editors:
NBPOL is a large scale integrated industrial producer of
sustainable palm oil in Australasia, headquartered in Papua New
Guinea ('PNG'). It has over 79,800 hectares of planted oil palm
estates, over 7,700 hectares of sugar cane and a further 9,200
hectares of grazing pasture; twelve oil mills; two refineries, one
in PNG, and one in Liverpool, UK; and a seed production and plant
breeding facility. The Company is listed on both the Main Market of
the London Stock Exchange and on the Port Moresby Stock Exchange in
PNG.
NBPOL is fully vertically integrated, producing its own seed
(which it also sells globally), planting, cultivating and
harvesting its own land, and processing and refining palm oil (both
in PNG and the UK). It also contracts directly with its end
customers in the EU and arranges shipping of its products.
NBPOL has high regard for the importance of its sustainability
credentials. It has achieved 100% certification of all estates,
mills and smallholders to the Roundtable on Sustainable Palm Oil
('RSPO') standard. NBPOL continues to be active in proving its
performance through its certification to ISO 14001 and its close
involvement with other innovative initiatives. The Company is a
certified supplier of sustainable palm oil from its entire
production base in PNG and Solomon Islands, under the RSPO
guidelines.
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange
END
BOAUGUQAWUPAGPG
New Britain Palm Oil (LSE:NBPO)
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New Britain Palm Oil (LSE:NBPO)
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