Plywood Factory Development

• Raised US$48m of new money (taking total funds raised to c.US$120m).
• Break ground to on 13,000m2 factory extension in Ghana to extend veneer production operations to full plywood production (to be commissioned in 2021).
• 50,000 pole per annum CCA treatment plant commissioned in Sierra Leone

Edge Glue Panel Production

• Edge Glue Panel Production commences in Sierra Leone at pilot scale.
• Trading department commences, trading third party timber products into West Africa (thus building revenue and market presence).

Rotary Veneer Production

• Rotary veneer production commences in Ghana, selling export and into the local market.

Plantation Area Established Exceeds 10,000ha

Sawmilling commences in Sierra Leone

First Investment by CDC Group plc

• US10.5m equity and US$4.5m mezzanine debt commitment with Finnfund increasing to match.

First Investment by Finnfund

• US$6m mezzanine debt commitment.

First Investment by Aqua Ventures

• US$750,000 invested by Aqua Ventures.

First Eucalyptus Planted

Founded by Andrew Collins, CEO and Charles Bosworth, Strategy Director

• Small scale plantation development <20ha commencing in 2010