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NZL - Roc Partners Transaction Settlement

Friday 9th February 2024

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NZL is pleased to announce that the agreement to sell a 25% equity interest in its land portfolio to Roc Partners settled today for NZ$44.2m.

 

NZL’s 19 January 2024 market announcement outlines the key features of the Roc Partners transaction and can be found here: www.nzx.com/announcements/424985.

 

NZL will use some of the proceeds to immediately repay the NZ$11.8m convertible note that it drew down in April 2023 to partially fund its NZ$71.0m forestry acquisitions.

 

The balance of funds has been retained as working capital while NZL considers future growth and capital options.

 

An announcement of NZL’s preliminary full-year results will be made on or before 29 February 2024.

Transaction Completion



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