TENON LIMITED(TEN)

delisted from the New Zealand stock market

we understand the company delisted following the sale of its operating assets and capital return of the bulk of the proceeds to shareholders (either NZ$3.8036 or US$2.6540, depending on the individual shareholder's currency election) - the company will shortly enter a voluntary liquidation process and it is expected there will be a further capital return later in the year

Tenon announces that it has completed the sale of its last business, its Clearwood business based in Taupo, New Zealand, to Tenon Clearwood Limited Partnership. On that date, Tenon also cancelled one out of every two ordinary shares held by each shareholder, with shareholders being paid either NZ$3.8036 or US$2.6540 (depending on the individual shareholder's currency election) per each cancelled share. With the sale of Clearwood completed, Tenon has entered its wind-down and voluntary liquidation phase.

name changed from Fletcher Challenge Forests Limited