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 0.0% 12.65 12.30 13.00 12.65 12.65 12.65 0.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Forestry & Paper 0.0 -0.2 -1.1 - 9

Cambium Global Timberland Limited Portfolio Update

08/08/2019 12:28pm

UK Regulatory (RNS & others)


Cambium Global Timberland (LSE:TREE)
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6 Months : From May 2019 to Nov 2019

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TIDMTREE

RNS Number : 4367I

Cambium Global Timberland Limited

08 August 2019

8 August 2019

Cambium Global Timberland Limited

(the "Company")

Portfolio Update

The Company announces today the signature of a conditional agreement for the sale of its tree farm at Agua Santa, in Minas Gerais, Brazil. The agreement will result in total payments over a 24 month period which, at today's exchange rate, amount to GBP6.22m (contracted as a total of BRL 30.0m). Title will only pass to the buyer at the end of the payment period.

This asset had been carried at GBP4.9m in the 30 April 2019 Annual Report and Accounts.

The contract is conditional on the completion of due diligence by the buyer and requires a BRL 3,000,000 down payment on the completion of due diligence, followed by 24 monthly repayments of BRL 1,125,000. The Company will update the market on completion of the sale in due course.

The sale is in line with the Company's policy to realise its assets and will reduce operational expenditure and expedite further returns to shareholders in due course.

Tony Gardner-Hillman, Chairman, welcomed the sale as a further significant step in the right direction against a backdrop of market conditions in Brazil which continue to be slow, a situation which was covered in more detail in the Annual Financial Report for the year to 30 April 2019, released on 25 July 2019.

The Company continues to hold its interests in Tocantins, Brazil and two other properties in Minas Gerais, Brazil.

For further enquiries please contact:

Chairman

Tony Gardner-Hillman

01534 486980

Broker and Nominated Adviser

W H Ireland

James Joyce

020 7220 1698

Administrator and Company Secretary

Praxis Fund Services (Jersey) Limited

01534 835831

Inside information

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014). Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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August 08, 2019 07:28 ET (11:28 GMT)

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