ECURITIES 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) January 3, 2017
Pope Resources, A Delaware Limited Partnership
(Exact name of registrant as specified in its charter)
Delaware (State or other jurisdiction of incorporation or organization) | 91-1313292 (I.R.S. Employer Identification No.) |
19550 Seventh Avenue NE, Poulsbo, Washington 98370
(Address of principal executive offices) (ZIP Code)
Registrant's telephone number, including area code (360) 697-6626
NOT APPLICABLE
(Former name or former address, if changed since last report.)
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 8.01 | OTHER EVENTS |
On January 3, 2017, the registrant issued a press release announcing recent closings of conservation sales from its Hood Canal tree farm in Jefferson and Kitsap counties totaling $5.3 million. The sale transactions comprise the following: 1,361 acres of timberland to Forterra, which will ultimately be transferred to Kitsap County; 159 acres of timberland to the Washington State Department of Natural Resources; and a conservation easement covering 1,497 acres of timberland to The Trust for Public Land. The conservation easement sale precludes future development but allows continuing timberland operations. Under the sale to Forterra, the Partnership will retain the right to harvest timber on that 1,361-acre parcel for 25 years. A copy of that press release is attached hereto as Exhibit 99.1.
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 January 3, 2017 |
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: January 3, 2017 | 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 investors@orminc.com |
NEWS RELEASE
FOR IMMEDIATE RELEASE NASDAQ:POPE
POULSBO, Wash.
January 3, 2017
POPE RESOURCES ANNOUNCES CONSERVATION SALES TOTALING $5.3 MILLION
Pope Resources (Nasdaq:POPE) announced today recent closings of conservation sales from its Hood Canal tree farm in Jefferson and Kitsap counties totaling $5.3 million. The sale transactions comprise the following: 1,361 acres of timberland to Forterra, which will ultimately be transferred to Kitsap County; 159 acres of timberland to the Washington State Department of Natural Resources; and a conservation easement covering 1,497 acres of timberland to The Trust for Public Land. The conservation easement sale precludes future development but allows continuing timberland operations. Under the sale to Forterra, the Partnership will retain the right to harvest timber on that1,356-acre parcel for 25 years.
"Each of these conservation transactions serve a different purpose,” said Tom Ringo, President and CEO, “but what they share in common is lessening potential future land use conflicts together with balancing recreational and economic uses.”
About Pope Resources
Pope Resources, a publicly traded limited partnership, and its subsidiaries Olympic Resource Management and Olympic Property Group, own or manage 215,000 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 Partnership 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.