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Radicle Projects

  • BY: Andrew Hore |
  • POSTED: 09/06/2008 |

Radicle Projects is spinning off a new timber investment company on Aim.

Radicle Timber will invest in plantation forest assets that can be developed on a sustainable basis in Australia and Asia Pacific. Blue Oar will be its nominated adviser and broker.

Radicle Projects invests in Australian agricultural projects growing a range of crops including almonds, grapes for wine and olives. It will inject around £10m worth of forestry assets into Radicle Timber. They include more than 600 acres of Paulownia, 210 hectares of silky oak and she-oak forests and 23 one hectare units of eucalyptus. Radicle Projects, new subsidiary Radicle Investment Management will be Radicle Timber’s investment manager.

Radicle Timber plans to raise up to £40m and it will be quoted on Aim and the Channel Islands Stock Exchange. That is more than three times the size of Radicle Projects, which is valued at £12.3m at 64.5p a share.

Radicle Projects will place some of the shares it receives for its timber assets and expects to retain a 15%-20% stake in Radicle Timber.

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