St Peter Port, Guernsey, 28 February 2017
Director Resignation
St Peter Port, Guernsey, 28 February 2017 - The Board of the Forest Company Limited (the "Company"), a closed-ended investment company, incorporated and registered in Guernsey, regrets to announce that Dr Dermot Smurfit has resigned as a director of the Company with effect from 28 February 2017 for personal reasons. The Board would like to thank Dr Smurfit for his nine years' service on the Board of the Company and for all of his valued advice and commitment during his tenure.
Following the resignation of Dr Smurfit it is noted that the Board is now fully independent of the appointed Investment Manager and continues to adhere to Channel Islands Securities Exchange Authority Ltd ("CISEA") Listing Rule 7.3 (1) (b) (ii).
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, 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 388 million in equity capital through private placements to institutional investors and family offices. Total dividends paid since inception amount to USD 52.5 million. 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 would generate both long-term capital appreciation for shareholders and an attractive 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:
ir@theforestcompany.se, The Forest Company, +55 11 3087 1015
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This announcement 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 announcement 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 The 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 The Forest Company Limited or any other entity or any persons holding securities of The Forest Company Limited.
