Nuhaka to sell forestry right to GMO Renewable Resources

Nuhaka Forestry Fund today said its unit-holders had approved the $7.16m sale of its forestry right to GMO Renewable Resources.

Settlement was scheduled for November 10, the listed forestry firm said in a statement to NZX today. GST would be added to the sale price.

Nuhaka's trustee now intends to wind-up and distribute the fund, and would contact unit-holders in the next two weeks.

Nuhaka shares last traded at $4.20 on October 21, having ranged between $3.90 and $5.49 in the past year.

- NZPA