Helping hand to get timber off Kangaroo Island miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
2021-05-26 by Proactive Australia
Kangaroo Island Plantation Timbers Ltd (ASX:KPT) managing director Keith Lamb has demonstrated his confidence in the company s strategy with the purchase of shares in an on-market transaction.
On May 24 Lamb acquired 5,000 shares at $1.15 per share in a direct interest, increasing the total number of securities held to 20,000 shares.
Reject takeover offer
The company s directors last week unanimously recommended that shareholders reject an on-market takeover offer from Samuel Terry Absolute Return Active Fund (STAM).
STAM already holds 26.26% of KPT and has offered to acquire all KPT shares at a price of $1.05 cash per share.
KPT chairman Paul McKenzie said the directors had recommended shareholders reject the offer for the following reasons:
Pine harvesting begins on Kangaroo Island as region recovers from last year s bushfires
ThuThursday 28
JanJanuary 2021 at 10:52pm
KIPT s director says the harvest has contracted due to bushfires, so it s more of a salvage operation.
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Contractors are stepping up timber harvesting on Kangaroo Island, despite the impact of last year s fires.
Key points:
Kangaroo Island Plantation Timbers has awarded a contract to harvest 200,000 tonnes of pine on the island
Much of KIPT s stock was burnt during Black Summer fires
The State Government is considering an application to build a port on Kangaroo Island to export the timber
Kangaroo Island, Australia to build biomass pellet mill | Bioenergy Insight Magazine bioenergy-news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bioenergy-news.com Daily Mail and Mail on Sunday newspapers.
The forestry vision that turned into a nightmare
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When Nationals politician John Anderson released a policy called Plantations for Australia: The 2020 Vision back in 1997, he had no idea how nightmarish that vision would turn out to be.
Instead of creating thousands of hectares of environmentally friendly native forests and a thriving timber industry, one ASX-listed company has been left with a charred mess and no easy way of cleaning it up.
This is a story of some of the worst government decisions in recent history crashing into the extreme heat of the 2019-20 summer. The drama is set about 200 kilometres south-west of Adelaide on Kangaroo Island, a flat land mass 155 kilometres wide and one-third as long with above average rainfalls and mild summers. And it starts with the Keating goverment’s National Forest Policy Statement of 1992, which stated places like Kangaroo Island were great for growing timber.