Foresight Sustain. - Results of General Meeting

Foresight Sustainable Forestry

21/12/2022 13:11

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RNS Number : 5094K  Foresight Sustain. Forestry Co PLC  21 December 2022

21 December 2022

 

Foresight Sustainable Forestry Company Plc

("FSF" or "the Company")

 

Results of General Meeting

 

The board of directors of the Company is pleased to announce that at the
General Meeting of the Company held on 21 December 2022, all of the
resolutions were passed by way of a poll. The voting was as follows:

 

 Resolution                        Votes For (including discretion)  %      Votes Against  %
 1 - Adoption of new articles      106,276,749                       99.98  17,000         0.02
 2 - Changes to investment policy  106,276,622                       99.98  17,000         0.02

 

Following the successful outcome of the vote, the Company has satisfied all
conditions to enable it to offer FSF's investors the option to elect to
receive distributions "in kind" of carbon credits. It is not currently the
intention to commence the sale or distribution of any voluntary carbon credits
in advance of 2030. All carbon credits created from the current wave of
investment will be fully distributed or sold not later than 2050.

 

The approvals also satisfy the requirements of the London Stock Exchange who
granted the Company its Voluntary Carbon Market designation on 5 December
2022.

 

 

END

 

About the Company

Foresight Sustainable Forestry Company Plc ("the Company") is an externally
managed investment company investing in a diversified portfolio of UK forestry
and afforestation assets. Targeting a net total return of more than CPI +5%,
the Company provides investors with the opportunity for real returns and
capital appreciation driven by the prevailing global imbalance between supply
and demand for timber; the inflation-protection qualities of UK land
freeholds; and biological tree growth of 3% to 4% not correlated to financial
markets. It also offers outstanding sustainability and ESG attributes and
access to carbon units related to carbon sequestration from new afforestation
planting. The Company targets value creation as the afforestation projects
successfully achieve development milestones in the process of converting open
ground into established commercial forest and woodland areas. The Company is
seeking to make a direct contribution in the fight against climate change
through forestry and afforestation carbon sequestration initiatives and to
preserve and proactively enhance natural capital and biodiversity across its
portfolio. It is managed by Foresight Group LLP.
https://fsfc.foresightgroup.eu/ (https://fsfc.foresightgroup.eu/)

 

For further information, please contact:

 Foresight Sustainable Forestry Company Plc              +44 20 3667 8100

 Robert Guest

 Richard Kelly

 fsfc@foresightgroup.eu

 Jefferies International Limited                         +44 20 7029 8000

 Will Soutar

 Citigate Dewe Rogerson                                  +44 7768 981763

 Toby Moore (toby.moore@citigatedewerogerson.com
 (mailto:toby.moore@citigatedewerogerson.com) )

 Michael Mpofu (michael.mpofu@citigatedewerogerson.com
 (mailto:michael.mpofu@citigatedewerogerson.com) )

 

 

This announcement does not constitute, and may not be construed as, an offer
to sell or an invitation to purchase investments of any description, or the
provision of investment advice by any party. No information set out in this
announcement is intended to form the basis of any contract of sale, investment
decision or any decision to purchase securities in the Company.

 

This announcement may include statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "anticipates", "expects", "intends", "may", "will",
"targeting" or "should" or, in each case, their negative or other variations
or comparable terminology. All statements other than statements of historical
facts included in this announcement, including, without limitation, those
regarding the Company's financial position, strategy, plans, proposed
acquisitions and objectives, are forward-looking statements.

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