Articles On Kangaroo Island Plantation Timbers (ASX:KPT)

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This decision follows the company being advised that its application to develop an export seaport facility on the island has been declined by the South Australian Government.

The appointment of the new non-executive directors James Davis and Mitch Taylor follows the resignation of Graham Holdaway in May 2020 and John Sergeant in May 2021.

At the close of the offer period on June 18, 2021, STAM had acceptances for 1,100,532 shares, equivalent to 1.95% of the shareholding of the company, taking its total holding to 28.18%.

SA Minister for Innovation and Skills David Pisoni mentioned the company’s commitment to employment diversity, worker support structures, safety systems and training regime.

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The company says the new offer is still considerably short of the appropriate value of its land assets on Kangaroo Island.

This month KPT welcomed the Federal Budget announcement of $32 million of road funding for Kangaroo Island as the final piece of the puzzle to clear the way for approval of its proposed KI Seaport development.

Last week, KPT welcomed the announcement in the Federal Budget of $32 million of road funding for Kangaroo Island as the final piece of the puzzle to clear the way for approval of its proposed KI Seaport development at Smith Bay.

Last week, KPT welcomed the announcement in the Federal Budget of $32 million of road funding for Kangaroo Island as the final piece of the puzzle to clear the way for approval of its proposed KI Seaport development at Smith Bay.

The resignation follows the takeover bid for the company announced by Samuel Terry Asset Management on Monday.

The unconditional offer at $1.05 cash per share was received this morning from Samuel Terry Asset Management Pty Ltd as trustee for Samuel Terry Absolute Return Active Fund.

Just over a year since being devastated by bushfires, Kangaroo Island Plantation Timbers (ASX:KPT) has got a takeover bid from Samuel Terry Asset Management. The timber grower saw over 90 per cent of its plantations on Kangaroo Island damag...

The Kangaroo Island Plantation Timbers Ltd (ASX: KPT) share price is surging today after the company was subject to a complete takeover bid from an investment fund called Samuel Terry Asset Management. The Kangaroo Island Plantation share...

Members of the Select Committee on Matters Relating to the Timber Industry in the Limestone Coast visited Kangaroo Island to hear about issues facing KPT and other growers in accessing markets on the mainland.

Buyers were particularly interested in the KPT wood that had positive 'resi testing' results, proving its suitability for construction grade lumber.

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The offer made by KI Phoenix is substantially less than book value, which, based on independent expert advice, sits at $59.28 million.

The two most practical alternatives to Smith Bay for handling chip, log and pellets are the existing ramp facility at Kingscote wharf, and the SeaLink passenger ferry service from Penneshaw.

The four-week public exhibition period has started prior to a final decision around development approval of the KI Seaport development.

Harvestco is hiring for a range of roles related to harvesting and a jobs expo will be held at Kingscote Town Hall on January 24.

Key information provided to the South Australian Government will be subject to public exhibition in January and February 2021, prior to a final decision on approval.

The company has reached initial agreement with the SA Department for Infrastructure and Transport on a process for detailed planning and management of road use and traffic management.

The grant will be used to develop a biomass pellet plant which will be capable of accepting fire-damaged logs and any other logs that cannot be sold into export markets.

Germination of blue gum seedlings is directly linked to the intensity of fire, so the combination of older trees and high-intensity wildfires on Kangaroo Island have led to germination of trees in some areas.

Harvesting has started along power lines in consultation with SA Power Networks as part of the KPT group fire prevention strategy.

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The company, hit by devastating bushfires in Australia last summer, has received a total of $54.6 million in progress payments on the insurance policy. 

The seaport would allow for export of timber and timber products from the company’s plantations.

It believes there is sufficient residual value to justify the cost of harvest and transport, as well as building the seaport at Smith Bay.

The company has decided to move forward with salvage harvesting, taking into consideration the need for timeliness to maximise recoverable volume.

The agreement with Maritime Constructions Pty Ltd of Port Adelaide brings the company a step closer to developing the Kangaroo Island Seaport.

The independent valuation of land and structures as of June 30, 2020, amounts to $59.3 million, an increase on the previous valuation in 2017.

A crop of blue gum and pine has been planted in a small 24-hectare compartment, the island’s first plantation planting in more than 10 years.

Participants have agreed to work collaboratively for the best outcome for koala welfare on the island as KIPT prepares to harvest its estate.

The harvest of pine logs is more urgent than bluegum because pine does not regenerate after fire and the logs are deteriorating on the stump.

The company has now received $49.6 million in progress payments on the treecrop insurance policy which has a limit of claims of $65 million and additional benefits of $3.2 million for other items.

The Response Document addresses in detail every individual issue raised by government agencies and the community at Smith Bay in the first and second rounds of public consultation.

The Supreme Court of South Australia has clarified the rights of the company and its neighbour over two easements affecting a land parcel.

The company has received the final progress payment of $1 million to cover the replacement cost of fire-damaged houses and sheds.

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This payment takes the total received from the treecrop insurance policy, which has a $65 million limit, to $30 million.

The company remains committed to plantation forestry operations following summer bushfires with the proposed Kangaroo Island Seaport to play a key future role.

The company plans to bring the land back into full production as soon as possible after salvaging the damaged tree crop.