TFC announces membership of the AICSep 22, 2011 17:45
St Peter Port, Guernsey, September 22, 2011
The Forest Company announces membership of the Association of Investment Companies.
St Peter Port, Guernsey, Thursday 22nd September, 2011 - The Forest Company Limited, a closed-ended investment company, incorporated and registered in Guernsey, announced membership to the Association of Investment Companies ("AIC").
The Association of Investment Companies (AIC) is the trade organisation for the closed-ended investment company industry. The AIC represent a broad range of closed-ended investment companies, including investment trusts, offshore investment companies and venture capital trusts (VCTs) which are traded on the London Stock Exchange, AIM, SFM, Euronext and the Channel Islands Stock Exchange.
The AIC monitors and analyses the political and regulatory developments that affect investment companies and their boards, and represents the industry to ensure the best possible regulatory, tax and legislative environment. This involves dealing with issues emanating from the UK, EU and Channel Islands. The AIC also provide
technical support and guidance to Members and their advisers in areas such as accounting, tax, company law and regulation. They additionally provide support services to Directors, particularly in the area of Corporate Governance, and aim to enhance the awareness and reputation of the investment company sector through a number of tools.
Rainer Haggblom, chairman of The Forest Company said "We believe that The Forest Company has a tradition of going beyond the basic requirements. With regards to environmental sustainability, we exceed local requirements and aim to have every plantations certified to the high international standards of the Forest Stewardship Counsel. We grow plantations in abandoned farm lands or acquire existing plantations in areas where we can be confident about fundamental competitiveness of the industries and best practices and expertise in environmental sustainability. Now, with regards to Corporate Governance we will again exceed local requirements and comply with AIC's code of Corporate Governance as a full member of the Association. We believe that exceeding requirements benefits all stakeholders. Meeting a clear and recognized criteria such as the AIC code benefits our shareholders and helps raise the bar for industries as a whole".
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. As of Aug 19th, 2011, The Forest Company has raised USD 262 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:
Vielcka D. Dutt, The Forest Company, +1 441 295 4736
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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.