Cambium Global Timberland Limited Florida Land Sale

LONDON (Dow Jones)--Cambium Global Timberland Ltd (TREE.LN), a forestry manager, said Friday that the land sale of 13,810 acres of land in Florida completed on May 31, 2012.

MAIN FACTS:
-Estimated proceeds net of estimated transaction costs and a loan prepayment fee will be $15.4 million, representing 97% of the Oct. 31 third-party appraisal.
-$5.4 million will be used to pay down principal on the amount borrowed by the company in May 2010; following the repayment, the principal balance will stand at approximately $6.2 million.
-Company does not anticipate further sales for Cambium of properties in the United States

-Shares at 0959 GMT unchanged at 43.5 pence valuing the company at GBP44 million.

-By Rory Gallivan,
Dow Jones Newswires; 44-20-7842-9411;
rory.gallivan@dowjones.com
(END) Dow Jones Newswires

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