LONDON (Thomson Financial) - Radicle Projects Plc. said it plans to launch a
new investment company, Radicle Timber Plantations, focusing on timber
plantations in Australia and the rest of the Asia Pacific region.
The UK company involved in Australian agribusiness projects said Radicle
Timber plans to raise up to 40 million pounds and to list on the AIM market of
the London Stock Exchange and the Channel Islands Stock Exchange.
Radicle Timber will acquire Radicle Projects' forestry assets for about 10
million pounds on admission to AIM.
Radicle Projects also said it plans to place a part of its stake in Radicle
Timber with investors on admission to AIM, and expects to retain a stake of
between 15 percent and 20 percent in the new company.
The company said it will appoint Myles Stewart-Hesketh as Radicle Timber
chairman. Stewart-Hesketh is on the boards of agri-science companies and
institutional investment organisations in Australia and internationally.
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