Corticeira Amorim
Disclosure of Material Information
Mozelos, Portugal, August 4, 2022
CORTICEIRA AMORIM, S.G.PS., S.A. ("CORTICEIRA AMORIM") announces that:
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- CORTICEIRA AMORIM today acquired through its subsidiary COLD RIVER'S HOMESTEAD SA, S.A. an 1,855 hectare plot of land owned by Novo Banco for a total amount of 22.3 million euros
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- This property includes a set of forestry assets that constitute a part of the former Herdade de Rio Frio and which are adjacent to the properties already owned by COLD RIVER'S HOMESTEAD SA, S.A.
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- As opportunely announced, CORTICEIRA AMORIM plans to improve the productivity of its agroforestry assets at Herdade de Rio Frio by increasing the tree density of this unique cork oak forest. This acquisition will enable CORTICEIRA AMORIM to expand its area of intervention with important gains in scale and operational leverage.
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- The preservation of the cork oak forest is one of the strategic goals of CORTICEIRA AMORIM, which intends to continue its active participation in the intervention in new cork oak plantations through land purchases, leasing or partnerships. The company's objective is to carry out applied research on the impacts of irrigation, fertilisation, nutrition and soil on the cork oak tree and to help promote and disseminate the use of new techniques for planting and managing the cork oak forest that are more efficient and resilient to forecast climate scenarios.
The Board of Directors
Corticeira Amorim, SGPS, S.A. Edifício Amorim I
Rua Comendador Américo Ferreira Amorim, 380 4535-186 Mozelos, Portugal
IRO: Ana Negrais de Matos, CFA T: + 351227475423 F: + 351 227475407
Share Capital: € 133 000 000,00 A company incorporated in Santa Maria da Feira – Portugal Registration and Corporate Tax ID No. PT500077797 instagram: amorimcork
www.corticeiraamorim.com
[email protected]