Cambium Global Timberland Limited Corporate Update & Auditor Update (4109A)

TIDMTREE

RNS Number : 4109A

Cambium Global Timberland Limited

01 June 2021

Cambium Global Timberland Limited

(the "Company")

Corporate Update

With reference to the potential sale of financial assets referred to in the Chairman's Statement dated 29 January 2021, published with the interim financial results to 31 October 2020, the Company announces that discussions regarding such a transaction have terminated. The Company is reviewing alternatives in relation to how it will seek to implement its strategy of returns to shareholders following the sale of its forestry assets previously announced.

Auditor Update

The Company announces that, following the completion of an extensive selection process, the Board has appointed Moore Stephens Audit & Assurance (Jersey) Limited ("Moore Stephens") as its new external auditor for the year ending 30 April 2021, to fill the casual vacancy arising from the resignation of KPMG Channel Islands Limited ("KPMG").

The Jersey Financial Services Commission has consented to the change and KPMG has deposited a statement with the Company confirming that there are no circumstances in connection with its resignation that should be brought to the attention of the members or creditors of the Company.

The Company intends to confirm the appointment of Moore Stephens in a vote of shareholders at the Company's next Annual General Meeting, and the board wishes to thank KPMG for its services and support during its many years as auditor to the Company.

Tony Gardner-Hillman, Chair of the Company's Audit Committee, commented:

"The Board would like to thank KPMG for their work as auditor since 2007. We look forward to working with Moore Stephens in the future."

For further enquiries please contact:

Chairman

Tony Gardner-Hillman

01534 486980

Broker and Nominated Adviser

W H Ireland

James Joyce

020 7220 1698

Administrator and Company Secretary

Praxis Fund Services (Jersey) Limited

01534 835831

Inside information

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014). Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.

LEI: 213800YGRM8HG1S74M46

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June 01, 2021 06:33 ET (10:33 GMT)

Cambium Global Timberland (LSE:TREE)
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