21/02/2013 (StockMarketWire.com) - Equatorial Palm Oil said Broadcourt Investments has subscribed for 6.9 million shares at 12p each, a total of £0.83 million, the funds being used for a loan to its Liberian Palm Developments JV.

Broadcoart Investments is associated with EPO's largest shareholder, BioPalm Energy Ltd.

The proceeds received by EPO would be used to provide a $1.2 million loan to its joint venture company, Liberian Palm Developments Ltd.

"The funds will provide short-term financing to support LPD's ongoing development of its oil palm projects in Liberia, West Africa, in advance of the anticipated funding from the African Export-Import Bank being raised for the company," it said.