Tenon Clearwood

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Rubicon Limited is a New Zealand-based company listed (RBC) on the main board of the New Zealand Stock Exchange (RBC:NZX). Approximately 75% of Rubicon’s issued shares are held by US beneficial holders and 3% is held by Board and management (all of which has been purchased from Director’s and executive’s personal funds). David Knott, who is a director of Rubicon, is also a principal of Knott Partners, which together with its associates owns a further 28.2%. Rubicon’s second largest shareholder is Libra Funds LP, at 17.6%.

Rubicon was formed out of the separation of New Zealand’s largest industrial company at that time, Fletcher Challenge Limited. As part of this separation, Rubicon began life with a portfolio of energy and forestry assets. All the energy assets were subsequently disposed for NZ$118 million, with NZ$92 million being returned to shareholders by way of on-market share buyback programmes, and the residual being retained for subsequent investment into its forestry portfolio.

The Company now has two core forestry investments:

  • ArborGen Inc (“ArborGen), a private US-based company. Rubicon owns 100% of ArborGen’s issued capital.

  • Tenon Clearwood Limited Partnership (“TCLP” or “Tenon Clearwood”), a private NZ-based partnership, in which Rubicon controls 50%.

The sole purpose of Rubicon is to bring value to these two investments.

Please click on the Tenon Clearwood or ArborGen logos to learn more about either of these businesses.

 

 

Forward Looking Statements

There are statements in this website that are “forward looking statements.” As these forward-looking statements are predictive in nature, they are subject to a number of risks and uncertainties relating to Rubicon, and our Tenon Clearwood and ArborGen investments, some of which are beyond our control. As a result of the foregoing, actual results and conditions may differ materially from those expressed or implied by such statements. Tenon Clearwood’s risks and uncertainties include - that its operations and results are significantly influenced by the level of activity in the various sectors of the economies in which it competes, particularly in North America and Europe. Fluctuations in industrial output, foreign exchange changes, commercial and residential construction activity, capital availability, housing turnover and pricing, levels of repair and remodelling and additions to existing homes, new housing starts, relative exchange rates, interest rates, and profitability of customers, can have a substantial impact on Tenon Clearwood’s results of operations and financial condition. ArborGen’s risks and uncertainties include (in addition to those of Tenon Clearwood) - the global markets and geographies in which it operates, intellectual property protection, regulatory approvals, public and customer acceptance of genetically engineered products, customer adoption of advanced seedling products, the success of ArborGen’s research and development activities, weather conditions and biological matters. As a result of the foregoing, actual results and conclusions may differ materially from those expressed or implied by such statements.