June 3 (Reuters) - Kangaroo Island Plantation Timbers Ltd KPT.AX :
* RECEIVED THIRD PROGRESS PAYMENT OF $10 MILLION FROM ITS TREECROP INSURANCE POLICY
* WILL APPLY $7.5 MILLION OF FUNDS TO FULLY REPAY ITS COMMONWEALTH BANK LOAN
June 3 (Reuters) - Kangaroo Island Plantation Timbers Ltd KPT.AX :
* RECEIVED THIRD PROGRESS PAYMENT OF $10 MILLION FROM ITS TREECROP INSURANCE POLICY
* WILL APPLY $7.5 MILLION OF FUNDS TO FULLY REPAY ITS COMMONWEALTH BANK LOAN