St Peter Port, Guernsey, 9 July, 2012
The Forest Company announces a directorate change and Chairman's incentive package
St Peter Port, Guernsey, Monday 9 July, 2012
Directorate change
The Company announces that Joseph Edmond Ryan has been appointed as a Director of the Company and Chairman of the Audit Committee with immediate effect. Mr. Ryan has 35 years' experience as a Chartered Accountant with PricewaterhouseCoopers and was a partner for nearly 25 years, both in the Audit and Corporate Finance Divisions, where he was involved with some of the world's largest M&A transactions. He has worked on transactions in over 30 countries and has gained extensive experience in UK, USA and International Accounting Standards.
Mr. Ryan is a non-executive director/member of the audit committees of several sports related organisations such as Badminton England, Commonwealth Games England and UK Sport. Mr. Ryan qualified as a Chartered Accountant in 1974 and has completed the Senior Executive Programme and the Continuing Executive Programme at London Business School, in addition to attending several industry related programmes specifically designed by London Business School for partners in PricewaterhouseCoopers.
Chairman's incentive package
As part of the Chairman's compensation package, The Company has put in place an incentive plan for Mr. Häggblom in his capacity as Chairman of the Company so that part of the Chairman's compensation is structured as a multi-year retention package. It is at the Board's discretion whether this is paid in cash or shares, and has effective monetary value of USD 70,000 per annum. The Chairman's additional incentive package remains within the maximum annual expenditure on Directors' fees as set out in the articles of the Company.
About The Forest Company:
The Forest Company combines socially and environmentally responsible forestry investments with unique potential for stable and attractive returns through participation in the value chain of competitive and sustainable industries.
The Forest Company Limited is a closed-ended investment company, incorporated and registered in Guernsey in 2007, in order to take advantage of investment opportunities in trees, timberland and timber related assets. The Company focuses on forest plantations in areas with high biological growth rates, such as Brazil and Colombia. To date The Forest Company has raised USD 296 million in equity capital through private placements to institutional investors and family offices. Thus far, the Company has committed capital to five projects, which include both greenfield and standing plantations located in Brazil and Colombia.
The Company aims to build a diversified timberland portfolio in terms of age, class and species that is intended to maximise the risk/return profile. The Company believes that this approach will generate both long-term capital appreciation for shareholders and an attractive and sustainable income yield. For more information, visit www.theforestcompany.se.
Timber Capital Limited is the investment manager to The Forest Company.
For additional information, please contact:
Sally-Anne Baron +1 441 295 4737
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This press release is not for distribution, directly or indirectly, in or into the United States (including its territories and dependencies, any State of the United States and the District of Columbia), Canada, Australia or Japan. This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act").
Securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act.
This document is an advertisement and does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any decision in respect of The Forest Company Limited or other evaluation of any securities of Forest Company Limited or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities. Neither the issue of this document nor any part of its contents constitutes an offer to sell or invitation to purchase any securities of Forest Company Limited or any other entity or any persons holding securities of Forest Company Limited.
