Update for Forestlands investors 07/08/17

07 August 2017

Information for the shareholders in the Forestlands companies

We have received queries about the sale price of the forests. The Overseas Investment Office has recently published the sale price received by Forestlands. This information is now available on the OIO website which references a sale price of $23,500,000.

Regarding the distribution of funds, as we have previously stated the responsibility for determining a process to allocate funds among the companies or investors remains with the Forestlands companies and their director. The FMA has been informed that the director has instructed third party experts, including Korda Mentha, with a view towards advising on distributions to shareholders of the Forestlands companies. 

We cannot comment on other matters that are currently the subject of ongoing inquiries by the SFO or the FMA.

We will update investors when there is further information available.

Related

Case: Forestlands