SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) June 22, 2016
Pope Resources, A Delaware Limited Partnership
(Exact name of registrant as specified in its charter)
Delaware | 91-1313292 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
19950 Seventh Avenue NE, Suite 200, Poulsbo, Washington 98370 |
(Address of principal executive offices) (ZIP Code) |
Registrant’s telephone number, including area code (360) 697-6626
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (SEE General Instruction A.2. below):
¬ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¬ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¬ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-(b)) |
¬ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
INFORMATION TO BE INCLUDED IN THE REPORT
Item 1.01 ENTRY INTO MATERIAL DEFINITIVE AGREEMENT
On June 22, 2016, the registrant issued a press release announcing that it has entered into a definitive agreement to acquire approximately 7,300 acres of timberland in western Washington for $31.9 million from a client of Hancock Timber Resource Group. The transaction is expected to close in the third quarter of 2016 and is contingent on obtaining financing and customary closing conditions.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
The information included in Exhibit 99.1 pursuant to Item 9.01 of this Current Report on Form 8-K shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Exchange Act or Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Exhibit No. Description
99.1 Press release of the registrant dated June 22, 2016.
SIGNATURES
Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
POPE RESOURCES, A DELAWARE LIMITED | |||
PARTNERSHIP | |||
Date: | June 22, 2016 | BY: | /s/ John D. Lamb |
John D. Lamb | |||
Vice President and Chief Financial Officer, Pope | |||
Resources, A Delaware Limited Partnership, and | |||
Pope MGP, Inc., General Partner | |||
 | Contact: John Lamb VP & CFO 360.697.6626 Fax 360.697.1157 |
NEWS RELEASE
FOR IMMEDIATE RELEASE
POULSBO, Wash.
June 22, 2016
POPE RESOURCES ANNOUNCES TIMBERLAND ACQUISITION
Pope Resources (NASDAQ:POPE) announced today that it has entered into a definitive agreement to acquire approximately 7,300 acres of timberland in western Washington for $31.9 million from a client of Hancock Timber Resource Group. The acquisition will be financed with a new credit facility and is expected to close in the third quarter of 2016, contingent on obtaining such financing.
"We like what this transaction represents in terms of species mix, age class distribution, ease-of-operability, and accretive cash flow," said Tom Ringo, President and CEO. "An added plus is how the property folds neatly into our existing timberland management infrastructure due to its proximity to other lands that we already own and manage."
About Pope Resources
Pope Resources, a publicly traded limited partnership, and its subsidiaries Olympic Resource Management and Olympic Property Group, own or manage 207,000 acres of timberland and development property in Washington, Oregon, and California. We also manage, co-invest in, and consolidate two private equity timber funds, for which we earn management fees. These funds provide an efficient means of investing our own capital in Pacific Northwest timberland while earning fees from managing the funds for third-party investors. The company and its predecessor companies have owned and managed timberlands and development properties for over 160 years. Additional information on the company can be found at www.poperesources.com. The contents of our website are not incorporated into this release or into our filings with the Securities and Exchange Commission.