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Major Events in 2008

Major events 2008

4,200 ha new forest planted

An all-time-high record of planting in 2008, 50% more than

2007, and three times the level of three years ago.

FSC auditor recommends certification

SGS, an accredited FSC auditor, certified Green Resources’ main

Tanzanian plantations, Mapanda and Uchindele, under the

Forest Stewardship Council’s standards, the world’s leading

certification system for sustainable forest management.

Strong industrial growth

Revenues increased by 64% reaching USD 10mn and the EBITA

margin recovered to 23%, back to 2006 levels after a poor

2007. It was the fourth year averaging 50% pa revenue


Raising USD 32mn of financing

In December 2008, Green Resources raised USD 32mn in new

equity and convertible debt, primarily from Phaunos Timber

Fund, in addition to an existing shareholder, securing continued

strong growth of the company.

Development grants

Green Resources received close to USD 1mn in development

grants from the IFC, Norway and Austria, an all-time record for

the company.