Peru: Camposol Holding reports first quarter 2012 results

On January 26th 2012, Camposol S.A., Camposol Holding Plc's subsidiary, successfully issued a USD 125 MM 9.875% senior unsecured notes due 2017, which are guaranteed by Camposol Holding Plc as parent guarantor and Marinazul S.A. and Campoinca S.A. as subsidiary guarantors. Settlement of the bond issue occurred on February 2nd, 2012. The net proceeds from the bond issue were used to pay long term debt, to finance capital expenditures and for general corporate uses. With this transaction, the Company secured its access to a long term source of financing which is far greater and deeper that the options it had previously developed.

On 27 February, Mr. Christopher Yetter, a member of the Board of Directors of Camposol Holding Plc since 2007, presented his resignation. On that same date, Mr. Sam Aguirre was appointed member of the Board of Directors of Camposol Holding Plc.

On 12 March, the Company announced an offer to repurchase own shares. As of 26 March, after the settlement of the offer, Camposol Holding Plc owns 1,087,372 own shares, equivalent to approximately 3.64% of the total shareholding.

The Company is currently focused on adding value to its clients through commercial, marketing and service initiatives which should result on higher margins. Additionally CAMPOSOL is analyzing new opportunities to consolidate its leadership through additional planting of current crops, planting of new crops, strategic alliances and acquisitions.

Company expects good demand for all fresh produce in general and for avocado specifically in both the United States and Europe. In 2012, the US market is open for Camposol avocados since the beginning of the season.

Executive Chairman Samuel Dyer Coriat and CFO Jorge Ramirez will host a conference call today, Thursday 10 May 2012 at 04:00 pm CET/ 08:00 am Lima.
Please see the full first quarter 2012 report and presentation via the links below.

CSOL Q1 2012 report
CSOL Q1 2012
CSOL invitation Q1 2012

For more information, please visit www.camposol.com.pe