ArborGen Holdings Advises First PPP Loan Forgiveness
To: NZX From: Sharon Ludher-Chandra
Tel: 021 898 624
Further information on ArborGen Holdings Limited can be viewed at our web site
http://www.arborgenholdings.com or email info@arborgenholdings.com
ArborGen Holdings Advises First PPP Loan Forgiveness
25 June 2021
Global advanced genetics seedling company, ArborGen Holdings Limited (NZX: ARB) has advised the first
loan received from the Small Business Administration (SBA) under the CARES Act Paycheck Protection
Program (PPP), of US$2.335 million, has now been completely forgiven. This loan was received in May
2020 and recorded as other income in ArborGen’s FY2021 earnings. The funding allowed ArborGen to
retain all employees and avoid any lay-offs during a period of significant uncertainty resulting from the
global pandemic.
ENDS
ArborGen
ArborGen is the largest commercial global seedling supplier and a leading provider of advanced genetics, for the forest
industry. Employing state-of-the-art technology, ArborGen is developing high-value products that significantly improve
the productivity of a given acre of land by enabling our customers to grow trees that yield more wood per acre with
greater consistency and quality in a shorter period of time. For more information, please visit ArborGen’s website at
www.arborgen.com.
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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