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Kangaroo Island Plantation Timbers Ltd

Kangaroo Island Plantation Timbers attracts sophisticated investors to unique offering

The halt will remain in place until Monday 4th December 2017.

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The company's shares are in pre-open

Kangaroo Island Plantation Timbers Ltd (ASX:KPT) holds a unique asset in eucalyptus trees, which can continue to grow with little investment.

The company has potential for sustainable production of 500,000 green tonnes per annum, adding around 6% to Australia’s timber exports.

Eucalyptus globulus grown on Kangaroo Island is expected to be equal to the best quality woodchips currently exported from Australia.

KPT recently entered into a Memorandum of Understanding with Mitsui Bussan Woodchip Oceania Pty Ltd creating an exclusive marketing arrangement.

The company is now preparing to outline details of a placement to sophisticated investors, and the ASX has granted a trading halt.

The halt will remain in place until the opening of trade on Monday 4th December 2017, or earlier if an announcement is made to the market.

Quick facts: Kangaroo Island Plantation Timbers Ltd

Price: $2.23

Market: ASX
Market Cap: $125.06 m
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