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TREE Cambium Global Timberland Limited

6.75
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cambium Global Timberland Limited LSE:TREE London Ordinary Share JE00B1NNWQ21 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 6.75 6.00 7.50 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Cambium Global Timberland Limited Timber Disposal (4373O)

07/11/2016 7:00am

UK Regulatory


Cambium Global Timberland (LSE:TREE)
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TIDMTREE

RNS Number : 4373O

Cambium Global Timberland Limited

07 November 2016

7 November 2016

Cambium Global Timberland Limited

(the "Company" or "Cambium")

Timber Disposal

Cambium Global Timberland Limited has entered into a wood supply agreement with SUZANO PAPEL E CELULOSE S.A, a publicly owned Brazilian pulp and paper company ("Suzano"), to sell to Suzano substantially all of the standing timber on Cambium's 3R property in Tocantins state, Brazil.

The Cambium board is delighted with the commercial terms of the agreement, which is expected to generate an income to Cambium approximately equalling the current book value of the trees (before legal and financial advisory costs related to the transaction). The final price to be paid by Suzano will be determined pursuant to a pre- harvest inventory to be commissioned in early 2017. Broadly, a deposit is payable to Cambium within 15 days of the agreement which is expected to amount to approximately 20% of the total purchase price (the total price to be finally quantified after the pre-harvest inventory), with approximately 60% due after the pre-harvest inventory in the first half of 2017 and the balance before the end of 2017 once all the wood has been removed.

This sale is part of the planned orderly realisation of Cambium's assets. The board continues its efforts to realise remaining assets and looks forward to making further announcements at appropriate times.

- END -

Broker and Nominated Adviser

Panmure Gordon

Paul Fincham/Jonathan Becher

0207 886 2500

Sub-Administrator and Delegate Company Secretary

Praxis Fund Services Limited

Janine Lewis/Matt Falla

01481 737600

This information is provided by RNS

The company news service from the London Stock Exchange

END

DISQQLFBQFFLFBD

(END) Dow Jones Newswires

November 07, 2016 02:00 ET (07:00 GMT)

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