An unknown buyer exchanged a contract to acquire 8,065 acre property in Stewart County from Cambium Global Timberland Limited (AIM:TREE) managed by CP Cogent Asset Management, LP for $9.1 million on May 14, 2014. The net proceeds of sale will be applied in discharging associated indebtedness of $6.2 million and surplus cash remaining after providing for working capital requirements will be made available to shareholders. The transaction is expected to complete on June 26, 2014.

Paul Fincham and Jonathan Becher of Panmure Gordon & Co. plc acted as financial advisors to CP Cogent Asset Management, LP.