Ann: First Buy-back Offers Made to Acquire MIS Assets-TFC.AX, page-12

This is why...
At the AGM last year TFC indicated that the Company intended to offer to acquire ~$13m of MIS grower plantation interests. Subsequently, earlier this year TFC signed new multi-year agreements to supply wood to buyers in India and China. With increased demand TFC now intends to gain greater control over the harvests by offering to acquire up to $53m of MIS grower interests in plantations that will be harvested over the next 7 years.

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