Loan Repayment
Updated : 07:00
Cambium Global Timberland Limited
(the "Company")
Repayment of Loan
As announced on 21 December 2017, the Company entered in to an unsecured loan facility agreement (the "Loan Agreement") with the Company's largest shareholder Peter Gyllenhammar AB ("PGAB"). The Company drew down £1,413,873.61 in order to enable the Group to remove outstanding mortgages over the Group's 3R Tocantins property without depleting existing cash balances. The interest rate was 6% for the first 12 months and thereafter 8%.
The Company is pleased to announce that it is has repaid all of the outstanding Loan and accrued interest amounting to £1,759,323.61 to PGAB. The source of the repayment funding was cash received from asset sales and the Company is now debt free.
For further enquiries please contact:
Chairman
Tony Gardner-Hillman
01534 486980
Broker and Nominated Adviser
W H Ireland
James Joyce / Darshan Patel
020 7220 1698
Administrator and Company Secretary
Praxis Fund Services (Jersey) Limited
01534 835831
Inside information
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.
LEI: 213800YGRM8HG1S74M46
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