Sale Of West Coast Forestry Rights
18 August 2005
Evergreen Forests Announces Sale Of West Coast Forestry Rights
Evergreen Forests Limited announced today that it has sold its forestry rights on West Coast South Island for $3.4 million with settlement for 30th September 2005.
Chairman Peter Wilson said this was a further sale of peripheral forest assets in terms of the Company’s strategy of consolidating its forest estate. The sale price was in excess of 30th June 2005 carrying value.
Mr Wilson said this sale will not alter the distribution range outlined in the 16th August announcement.