In 2012 UK Firm Property Frontiers approached EcoPlanet Bamboo Group about partnering with their firm and Citadel through the development of a UK based Special Purpose Vehicle for the purpose of developing a commercial bamboo plantation. The break down of responsibilities was:
Property Frontiers and Citadel would raise the project financing through the issuance of a UK bond issuance.
EcoPlanet Bamboo would develop and manage a dedicated bamboo plantation in Nicaragua.
EcoPlanet Bamboo welcomed the idea as a mechanism to scale up company development beyond existing operations in Nicaragua and South Africa. The company committed to developing the Rio Kama plantation to the highest social and environmental standards and contributing to emerging global commitment for forest landscape restoration.
EcoPlanet Bamboo is the global leader in the development of bamboo plantations. EcoPlanet Bamboo investments are in commercial bamboo farms in Nicaragua, South Africa and Ghana. EcoPlanet Bamboo was founded in 2010 by Troy Wiseman and Camille Rebelo. EcoPlanet Bamboo investments are triple bottom line. Troy Wiseman EcoPlanet Bamboo CEO is a successful entrepreneur. EcoPlant owns the world's largest bamboo farms..
A SUMMARY OF THE BAMBOO BOND
2012 - 2013
Prior to the bondholders voting to sell the bond on October 2013, all 285 bond holders received interest payments on time:
Bond Type 1: $50,000 - 11.0%
Bond Type 2: $27,500 - 10.0%
Bond Type 3: $16,500 - 8.34%
These payments were carried out exactly as per the terms of the bond agreements.
Bamboozled Bamboo Investment EcoPlanet Bamboo
2013 - 2014
In 2013 EcoPlanet Bamboo received a purchase offer for the Rio Kama plantation. Bondholders were provided the terms of this offer and requested to vote. Sale of the plantation and the associated bamboo bond required a 75% majority.
Approval of sale: 282 votes - 98.9%
Disapproval of sale: 1 vote - 0.4%
No reply: 2 votes or 0.7%
As a result of this vote the Rio Kama plantation was sold to the Eco Resources Fund and the Bamboo Bond dissolved.
The remaining 135 individuals who voted to retain their shares instead of taking a payout continue to hold 6.48 million shares in the ERF Fund.
EcoPlanet Bamboo has no ownership, management or control over this Fund. Bamboo Investments