Phaunos Timber Fund Limited 2016 Final Dividend (5130I)
20 June 2017 - 1:05AM
UK Regulatory
TIDMPTF
RNS Number : 5130I
Phaunos Timber Fund Limited
19 June 2017
Phaunos Timber Fund Limited
("Phaunos" or the "Company")
19 June 2017
2016 Final Dividend
The Board of Phaunos is pleased to announce the declaration of a
final dividend of US$0.016 cents, amounting to a total dividend
declared of US$0.019 cents gross per Ordinary Share for the year
ended 31 December 2016, with an ex-dividend date of 29 June 2017, a
record date of 30 June 2017 and a payment date of 28 July 2017. The
Final Dividend is a distribution of surplus cash generated by the
Company's plantations and investments throughout 2016.
Sir Henry Studholme, Chairman of Phaunos Timber Fund, commented
on the declaration:
"The declaration of the 2016 Final Dividend is in line with
previous communications to shareholders and represents distribution
of surplus cash from operations of the Company. Future dividend
policy will be reviewed in the light of the decision by
shareholders at the recent Annual General Meeting not to continue
the Company. Proposals for the orderly realisation of the assets
will be put to Shareholders at an Extraordinary General Meeting to
be held as soon as practicable but in any event not later than 19
October 2017."
Sir Henry Studholme Bt
Chairman
Enquiries:
Phaunos Timber Fund Limited (Chairman)
Sir Henry Studholme
Stafford Capital Partners Limited (Manager)
Michael Goodfellow, +44 (0)20 7535 4915
Media Enquiries:
Phoenix Financial PR
Gordon Puckey: +44 (0) 7799 767468
Winterflood Investment Trusts (Corporate Broker)
Joe Winkley, +44 (0)20 3100 0301
info@phaunostimber.com
Notes to Editors
1. About Phaunos Timber Fund Limited
Established in 2006, Phaunos Timber Fund Limited ("PTF" or "the
Company") invests in a concentrated, but diversified portfolio of
timberland and timber-related investments.
PTF is a Guernsey-domiciled authorised closed-ended investment
scheme, authorised by the Guernsey Financial Services Commission
under section 8 of The Protection of Investors (Bailiwick of
Guernsey) Law, 1987 (as amended) and the Authorised Closed-ended
Investment Schemes Rules 2008 made thereunder. The Company's
ordinary shares are traded on the Main Market of the London Stock
Exchange. www.phaunostimber.com
2. About Stafford Capital Partners Limited
Established in 2000, Stafford Capital Partners ("Stafford") is a
leading private markets investment group. It has specialist
investment teams working across Real Assets, Private Equity and
Credit, and with offices in Austin, Boston, Hanover, London, Sydney
and Zurich, has a truly global presence. As at 31 March 2017,
Stafford has more than US$4.8 billion under management and advice,
with US$2.3 billion in timberland investments. Stafford was
appointed as the Manager of Phaunos on 1 July 2014.
(www.staffordcp.com)
Stafford's timberland business provides fund management and
advisory services to institutions seeking global timberland
exposure; this is achieved through pooled investment vehicles and
co-investment opportunities in transactions (which are sometimes
larger than the capacity of the primary fund). Stafford's pooled
funds offer globally diversified portfolios of timberland assets,
and are actively managed to take advantage of developing market
trends. Stafford presently manages timber investments in Australia,
Brazil, Canada, Central America, Chile, New Zealand, the US and
Uruguay.
Stafford Capital Partners is a member of the 'Principles for
Responsible Investment' (PRI); these Principles are an
internationally agreed upon framework, designed to help
institutional investors to incorporate Environmental, Social and
Governance (ESG) considerations into their investment
decision-making and ownership practices. The PRI has acknowledged
Stafford as having incorporated a solid framework for ESG
considerations into its investment decision process.
The Company's ticker is PTF. www.phaunostimber.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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