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Friday, 14th January 2000 Evergreen Forests Limited has changed its registered office and address for service from: Level 25, ASB Bank Centre To: Level 15, Quay Tower Postal address does not change from PO Box 6540, Auckland. Thursday, 9th December 1999 Evergreen Forests Limited has announced that John Parker, Senior Vice President at Xylem Investments, Inc. has resigned from the Board of Directors and that the Board yesterday has appointed Mr Roy McCluskey, as a director of the Company. Mr McCluskey is Senior Associate at Xylem Investments, Inc. Placement Of Convertible Notes
Friday, 26th November 1999
Wednesday, 27th October 1999
Thursday, 7th October 1999 At the Evergreen Forests Limited Annual Meeting today, the following resolutions were passed:
Wednesday, 2 June 1999 Australian Stock Exchange listing The Board of Directors of Evergreen Forests Limited advises that the Company was admitted to the Official List of the Australian Stock Exchange on Monday 31 May 1999. Official Quotation of the company's securities will commence today at 11am EST. The ASX code for the ordinary shares is EVF and for the convertible notes is EVFG. Thursday, 6 May 1999 Mr. Donald M. Campbell appointed a director Evergreen Forests Limited has announced that following the Board of Directors meeting on the 5 May 1999, the Board has appointed Mr Donald M Campbell as a director of the Company. Mr Campbell is Chief Executive of Hambrecht & Quist Guaranty Finance, LLC. Friday, 26 March 1999 Convertible note issue summary
Wednesday, 3rd February 1999 First operating profit The directors of Evergreen Forests Limited report the company's first operating profit from harvesting activities for the six months to 31st December 1998, when a profit of $890,000 was achieved. This compares with the previous corresponding period loss of $186,000. A fully underwritten zero coupon convertible note issue which will raise $21.9 million (announced today) will enable Evergreen to continue its growth and to enhance its ability to maximise long-term profitability by selling into stronger markets. Harvesting began in late September in Northland at close to projected production rates and the directors note that the Company's entry into harvesting and log marketing has been achieved profitably, by targeting areas containing a high proportion of pruned logs. Subject to market conditions, our present plans are to sell almost twice as much timber in the second half of the year although because it had been intended to start the harvest before September, sales for the full year may be below the level previously anticipated. As noted in the 1998 Annual Report, the Company expects to record a modest profit for the year ended 30th June 1999. The market for pruned logs eased slightly during the period although offsetting this was a return of demand for unpruned logs in traditional export markets, such as Korea and Japan, suggesting that the worst of the Asian downturn is now over. The lifting of a United States injunction against imports of New Zealand timber is also very encouraging. Recovery in both domestic and Australian economies will also support increasing demand. Turnover for the six months was $2.4 million (1997 $222,000), and while modest, recognises the Company's changing status from an investor concentrating on capital value growth to an investor and producer with increasing revenues. On behalf of the Board of Directors. Peter Wilson Return to Public Announcements |