ATLANTA, Sept. 14, 2018 /PRNewswire/ -- CatchMark
Timber Trust, Inc. ("CatchMark") (NYSE: CTT) announced on
September 6, 2018 that it is
evaluating a potential offer to acquire Phaunos Timber Fund Ltd
(LSX: PTF), a Channel Islands
domiciled, closed-end real estate fund which owns a portfolio of
premium timberland assets, in a stock-for-stock transaction.
CatchMark wishes to direct the attention of its shareholders to
certain disclosure requirements applicable to the potential
offer. CatchMark's Class A common stock is listed for trading
on the New York Stock Exchange.
The relevant disclosure requirements are set out in Rule 8 of
the UK City Code on Takeovers and Mergers (the "Takeover Code"),
which is published and administered by the UK Takeover Panel. In
particular, Rule 8.3 of the Takeover Code requires that any person
who is interested (directly and indirectly) in 1% or more of any
class of relevant security of any party to the offer period must
make (a) an Opening Position Disclosure and (b) a Dealing
Disclosure if they deal in any relevant security of any party to
the offer during an offer period. CatchMark's Class A common stock
is a relevant security for the purposes of this offer
period.
Further information about the Takeover Panel's disclosure regime
is available at: http://www.thetakeoverpanel.org.uk/disclosure. If
any CatchMark shareholder has any questions on these disclosure
requirements, the Takeover Panel's Market Surveillance Unit will be
happy to answer them and should be contacted on +44 (0)20 7638
0129.
In accordance with Rule 26.1 of the Takeover Code, a copy of
this announcement will be available on www.catchmark.com by no
later than 12 noon (London time)
on the business day following this announcement. The content of
such website is not incorporated into and does not form part of
this announcement.
About CatchMark
CatchMark Timber Trust, Inc. (CTT) is a self-administered and
self-managed, publicly-traded timberland REIT that strives to
deliver superior risk-adjusted returns for all stakeholders through
disciplined acquisitions, sustainable harvests, and well-timed real
estate sales. Headquartered in Atlanta and focused exclusively on timberland
ownership and management, CatchMark began operations in 2007 and
owns interests in approximately 1.6 million acres* of timberlands
located in Alabama, Florida, Georgia, Louisiana, North
Carolina, South Carolina,
Tennessee and Texas. For more information, visit
www.catchmark.com. CatchMark does not currently have a
position in any securities of Phaunos Timber Fund Ltd.
* As of July 6, 2018
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SOURCE CatchMark Timber Trust, Inc.