MP Evans is an AIM-listed palm oil producer with operations in Indonesia. Despite a short-term climate-driven trading setback, the strategy of expansion and development of its core business is on course, with a strong balance sheet further reinforced by recent non-core disposals. Management, with support of 41% of shareholders, has rejected a 740p hostile approach by KLK, a Malaysian plantation company, on the grounds that it very substantially undervalues the shares.
23 Nov 2016
Expansion strategy on course
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Expansion strategy on course
M.P. Evans Group PLC (MPE:LON) | 858 103 1.4% | Mkt Cap: 455.3m
- Published:
23 Nov 2016 -
Author:
Paul Hickman -
Pages:
4
MP Evans is an AIM-listed palm oil producer with operations in Indonesia. Despite a short-term climate-driven trading setback, the strategy of expansion and development of its core business is on course, with a strong balance sheet further reinforced by recent non-core disposals. Management, with support of 41% of shareholders, has rejected a 740p hostile approach by KLK, a Malaysian plantation company, on the grounds that it very substantially undervalues the shares.