Cambium Global Timberland Limited Trading Update and Extension of Reporting Deadline (6117Q)

TIDMTREE

RNS Number : 6117Q

Cambium Global Timberland Limited

28 October 2021

28 October 2021

Cambium Global Timberland Limited

("Cambium" or "the Company")

Trading Update and Extension of Reporting Deadline

The Company provides the following update.

As has previously been reported, the sales of all the Company's interests in land have been concluded, leaving Cambium with only its interests in the related receivables (expected to be fully collected by February 2023) and its bank balances.

The Company continues to seek to keep costs to a minimum pending being able to complete the return of capital to shareholders.

Net Asset Value (NAV)

The Company expects the FY 2021 (30 April 2021) NAV to sit at or just above the level of GBP7 million (circa 9.7p per share) being a slight increase compared with the half year (31 October 2020) reported NAV of GBP6.5m (8.8p per share). This expected increase is due, in particular, to the crystallisation of sale prices and the additional receipt of proceeds from the release of the Lizarda lien, each as previously reported.

Extension of Reporting Deadline

Due to the Covid-19 impact, resulting in delays in the provision of information by our service provider in São Paulo, the Company will not be able to post its annual audited report and accounts for the financial year ended 30 April 2021 (the "Annual Report") to shareholders by 31 October 2021.

The Company has applied, pursuant to the guidance provided in "Inside AIM" on 27 January 2021, for an additional period to publish the Annual Report and has been granted an extension by AIM to publish by 30 November 2021. The Company expects to publish within the extension period granted.

 
 Contacts 
 
 Cambium Global Timberland Limited    www.cambi um.j e 
 c/o Praxis Fund Services (Jersey) 
  Limited                             [phone] 
 
 WH Ireland Limited                   www.whirelandplc.com/ 
 James Joyce / Darshan Patel          [phone] 
 

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October 28, 2021 07:58 ET (11:58 GMT)