ANNOUNCEMENT NUMBER 344
- Alterra Board has committed in-principle to a restructure and demerger of its Carbon Business to better realise value to shareholders and enable the development of new agribusiness projects.
- A new company Carbon Conscious Investments Ltd has been established which will own the Carbon Business and is currently a 100% owned subsidiary of Alterra.
- Subject to shareholder approval, the demerger will take place via Alterra distributing 85% of the CCIL shares in-specie to Alterra shareholders with Alterra retaining 15%.
- Alterra will be contracted to continue to manage the Carbon Business operations under a Service Agreement.
- A Notice of Meeting outlining the Proposed Transaction will be distributed to shareholders in the near future.