Nov 01, 2010 08:00
St Peter Port, Guernsey, 1st November, 2010 - The Forest Company Limited ("The Forest Company" or the "Company"), a closed-ended investment company incorporated and registered in Guernsey, announces that the Adjusted Net Asset Valuation ("NAV") as at September 30th, 2010 is USD 183,459,977or USD 8.4813 per share.
Despite taking in USD 126 mm in May 2010 The Forest Company is pleased to announce a continuation to the steady rise in the NAV per share seen over recent quarters.
The Forest Company calculates NAV on a quarterly basis.
For additional information, please contact:
Sally-Anne Baron, Timber Capital Limited + 1 441 295 4737
About The Forest Company:
The Forest Company is a vehicle that combines socially and environmentally responsible forestry investment with unique potential for stable and attractive returns through the participation in the value chain of competitive and sustainable industries.
The Forest Company is a closed-end investment company established in 2007 in order to take advantage of investment opportunities in trees, timberland and timber related assets. We focus on forest plantations in areas with high biological growth rates, such as Australia, Brazil, Chile, New Zealand, Panama and Uruguay, with an initial emphasis on Brazil. In March 2008, we raised USD 50 million in equity capital in a private placement to institutional investors. We have committed the majority of the funds, USD 43 million, to the company's first two investments, both located in Brazil. In May 2010 we raised a further USD 126 million through the same means. We have committed the initial capital to the company's first two investments, both located in Brazil. We are currently working to deploy the new funds raised.
We aim to build a diversified timberland portfolio in terms of age, class and species that is intended to maximise the risk/return profile. We believe that this approach will generate both long-term capital appreciation for Shareholders and an attractive and sustainable income yield.
Timber Capital Limited is the investment manager to The Forest Company.
__________
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. There will be no public offer of securities in the United States. No offer is directed at individuals whose participation would require additional prospectus, registration or other measures beyond those prescribed by Swedish law, or would violate applicable rules in such countries. Any Prospectus or application form relating to any offer, may not be distributed in any country in which the distribution of an offer or any offer itself requires measures as outlined above, or are contrary to the regulations in such countries.