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. END End CA:00374557 For:ARB Type:GENERAL Time:2021-06-25 12:06:38