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Foresight Sustainable Forestry Acquires Three Afforestation Sites
Monday 15 August 2022

UK-based investment company Foresight Sustainable Forestry Company plc (LSE: FSF) which invests in UK forestry and afforestation assets, has acquired three afforestation sites, the company said.

On 8th August 2022, FSF completed the acquisition of a cluster of afforestation properties near Huntly, Scotland, for GBP 3.4m (4.1m).

The three properties, Ness Bogie (128.6 hectares), Ream's Hill (37.6 hectares), and Brown Hill (30.8 hectares), are all located within c.4 miles of each other and encompass a total area of 197 hectares.

Once established, the properties represent a package of unconstrained, high yielding and thinnable (which enables accelerated harvesting revenues and supports increased tree growth rates) afforestation schemes, extending FSF's growing presence in Aberdeenshire.

The acquisition expands the total area of FSF's portfolio to 8,966 hectares, increases the %age (by value) of afforestation sites in the portfolio to 40%, and therefore achieves the IPO target of having 40-50% of FSF's portfolio (by value) allocated to afforestation assets.

The company is managed by Foresight Group LLP.
Date Published: 15/08/2022