TREE.L Share News (TREE)

As part of the planned disposal of its assets, Cambium Global Timberland has signed contracts for the sale of its 8,065 acre property in Stewart County in Georgia.The sale is being made for cash consideration of $9.1m. The proceeds will be used in discharging associated indebtedness of some $6.2m, with any remaining cash to be put towards working capital requirements, while any remaining cash will be made available to shareholders. Completion is expected to take place on June 26th this year. NR