Restructure Potential Demerger of Carbon Business

November 14, 2018
ANNOUNCEMENT NUMBER 344

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HIGHLIGHTS

  • 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.