Irish Forestry Funds Sale

TradeGenetics

Cheques were posted last Friday. The company has not issued any press release with return on investment. They state they sold prematurely due to good price. Shareholders had no say in this sale. I think public meeting is needed to discuss. Let’s wait to see return first

Count Hairyfoot

There was a multi page thread on this in the Forestry section with people starting to plan a response and it seems to have been removed. I can't see why as there was nothing improper in it.

Anyway, yes it looks like the returns will be terrible and some sort of response from the shareholders is appropriate.

Davo222

So much for democracy, where are these substantial returns?

FishHook

Cheque arrived in post this morning. A measly € 1,313.11. What a farce :-( !!!!

Just joined

FishHook wrote: »

Cheque arrived in post this morning. A measly € 1,313.11. What a farce :-( !!!!

Which fund fish hook?

Davo222

Substantial returns, lol, hope the newspapers will follow up on this one.

Robodoc

FishHook wrote: »

Cheque arrived in post this morning. A measly € 1,313.11. What a farce :-( !!!!

Was that for a single share, and in which fund?
There were 26 pages in “third Irish Forestry fund”, all gone this morning, someone high up must have known what the reaction would be and got it removed.

FishHook

Single share. Third Irish Forestry Fund.

FishHook

By lodging the cheque, does it mean that you have accepted the amount ? Or should I hold on to it to see what if anything develops ?

Tow

So much for rhe agricultural land alone increasing in value by * 5 in the last 21 years. Someone is making a lot of money.

Robodoc

I see that Irish Forestry Fund have a facebook page, untouched for years but still up, there website seems to be down this morning, i think their fb page needs a few messages to brighten up their day

Hatters

Can’t believe that extensive thread was removed. What was the reason and by whom?

Tow

I will lodge mine, but write out my concerns point by point on the back of the cheque. There is a always a possibility of it bouncing etc..

tomgilboy

Boards.ie have a duty to its users to explain their actions ?

paris24

Where on earth has that thread gone, why would someone remove it?
Anyone want to call into Paul office this morning demanding answers?!

Robodoc

FishHook wrote: »

By lodging the cheque, does it mean that you have accepted the amount ? Or should I hold on to it to see what if anything develops ?

Personally I think I would lodge it as it represents some pathetic return, lodging does not mean that you are satisfied with the return, it is hard to know whether legal action would achieve anything and by the time legal action came around anyway the cheque would be worthless.

Davo222

Probably find Paul is on a beach in the Caribbean. And my post will disappear in a few moments

Anne Smyth

Not at all happy with the return, so much for an excellent return for share holders 😡

paris24

Absolute snakes so they are

Robodoc

As regards the deleted posts, if you hit search in boards and enter Third Irish Forestry Fund, you come to options to query why the board is missing, I’ve questioned was it removed because of pressure from IFF, maybe others should do the same

paris24

https://www.agriland.ie/farming-news/single-largest-private-forestry-transaction-in-irish-history-completed/

https://www.google.ie/amp/s/amp.independent.ie/business/irish/forestry-investors-in-line-for-sale-windfall-38124848.html

How. How can these articles stand

nerine

And we live in a democracy! I have shares in several of the later growth plans so will see what those cheques look like later when postman arrives. I think it would be good at least to highlight this matter for future possible investors otherwise the casual reader and/or investor are left with the impression that this was a great investment

paris24

Robodoc wrote: »

As regards the deleted posts, if you hit search in boards and enter Third Irish Forestry Fund, you come to options to query why the board is missing, I’ve questioned was it removed because of pressure from IFF, maybe others should do the same

I can’t find that , where to query the removal?

Davo222

Propaganda! This is why the newspapers should report on the outcome as they were quick to praise the fund creating the illusion that investors were doing great.we need balanced reporting.

Robodoc

paris24 wrote: »

I can’t find that , where to query the removal?

Go to the search bar at the top of the page, enter “ third irish forestry fund”, press the magnifying glass, should pull up options to query why the thread is missing

Tow

Energy would be better spent in writing to the various regulators, detailing various concerns.

1. Company directors not acting in the best interest of the shareholders.

2. Conflict of interest in the directors company(s) is getting the ongoing job of managing the forest.

3. Excess audit costs etc.

4. Giving shot term reasons for selling early. Reasons which may actually act in our favor:
Brexit - Ireland maybe able to supply into UK via the 'backstop', while other countries cannot.
Trees cut early in Europe due to disease, causing glut in market. Irish trees not affected and trees not due to be felled for another 10 years. In 10 years this is lightly to cause a lack of supply in Europe.

5. Fund cashed in 10 year premature. Trees only reach full value after ~30 years.

6. Increase in land value not taken into account. Our money (shareholders) funds were used to buy the land. Government grants paid for the planting and some of the management costs.

7. Irish investment and very large areas of land sold to foreign vulture fund.

Robodoc

Robodoc wrote: »

Go to the search bar at the top of the page, enter “ third irish forestry fund”, press the magnifying glass, should pull up options to query why the thread is missing

Sorry, cannot find that link now, that’s how I remember doing it

Spain Calling

Go to Contact US at the bottom of their web page.

antietam1

nerine wrote: »

And we live in a democracy! I have shares in several of the later growth plans so will see what those cheques look like later when postman arrives. I think it would be good at least to highlight this matter for future possible investors otherwise the casual reader and/or investor are left with the impression that this was a great investment

They seem to be now looking for investors with a 100k or more, I started that thread and thought it was harmless enough.

tomgilboy

1058 euros for a single (750 euro) share in the 7th. (Scam Scheme) investment plan.

Yes it smells to high heaven .. and has been churned to death on the now 'removed' thread ...which is very odd given that it happened the day the cheques finally arrived ..not before !

Does AXA have any connection with Boards.ie ? ..do they sponsor or advertise on it ?

John C 1981

I got cheques today in respect of my shares in the Third, Fourth and Fifth funds but nothing for the Sixth. Anyone receive anything for their shares in the sixth fund?

antietam1

John C 1981 wrote: »

I got cheques today in respect of my shares in the Third, Fourth and Fifth funds but nothing for the Sixth. Anyone receive anything for their shares in the sixth fund?

May I ask did you have to sign for the cheques?

John C 1981

antietam1 wrote: »

May I ask did you have to sign for the cheques?

I didn't. They were sent by standard post.

TradeGenetics

Can someone open social media page (facebook, twitter etc) with regard to this scam on behalf of shareholders interest. Needs reported to all regulatory bodies, ministers, eu needs look into it. We live in western world. After banking meltdown they must have better regulations in place. There seems no accountability.

antietam1

Thanks John, in all this forget to ask did anyone else get offers.
I know someone who turned down 6k about 8 or 9 years ago, it was on the internet so who knows how serious the bidder was.
Should add it was 6k for 4 shares.

galwaytt

Count Hairyfoot wrote: »

There was a multi page thread on this in the Forestry section with people starting to plan a response and it seems to have been removed. I can't see why as there was nothing improper in it.

Anyway, yes it looks like the returns will be terrible and some sort of response from the shareholders is appropriate.

I thought I was hallucinating as I had subscribed to that thread, and couldn't find it this morning ?

Why on earth would that be pulled,and by whom ?

FFruits

Send this to the Irish times, Financial Times along with link to this forum. I’m not living in Ireland but did have a share. It might be better for someone to send who’s in Eire

gordongekko

FFruits wrote: »

Send this to the Irish times, Financial Times along with link to this forum. I’m not living in Ireland but did have a share. It might be better for someone to send who’s in Eire

Wouldn't make any difference where you are living. Post a copy of any reply you get

FFruits

From a forum moderator....

It was hidden by a mod for review purposes - this usually happens if there are a large number of recent posts that need to be reviewed before posting can be resumed.

I'll ask the mod in question for more information.

greysides

From the Moderator who hid it"
I was the Mod. The thread is not deleted but removed from view pending decisions by the Moderation team on an issue that has developed. Given the length of the thread and the subject matter, as we are not experienced in that area, I would ask for a little patience. The thread will be re-instated ASAP.
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gordongekko

TradeGenetics wrote: »

Can someone open social media page (facebook, twitter etc) with regard to this scam on behalf of shareholders interest. Needs reported to all regulatory bodies, ministers, eu needs look into it. We live in western world. After banking meltdown they must have better regulations in place. There seems no accountability.

Send us a link here when you set up the page

tomgilboy

Well Moderators of Boards.ie ..why are you all so quiet ..you can act quick enough when it suits ye !

Please answer your users questions ?

Clarity would help !

Phoebas

That thread included accusations of wrongdoing against named individuals.
I'm not all that surprised that it was pulled.

I understand that people were disappointed about expected returns, but probably a bit quick to assume wrongdoing.

Davo222

I thought the boards were about freedom of speech. Please repost original threads.

Davo222

Why take all threads down then?

Phoebas

Davo222 wrote: »

I thought the boards were about freedom of speech. Please repost original threads.

Boards is a private website. You don't have freedom of speech here.

Davo222

No freedom of speech wow!

Harry Palmr

Calm down, the law applies to everyone on boards. It's not a conspiracy, it's amazing that people who are old enough to have been waiting a decade for share maturity are so immature.

Davo222

O sassy keep your hair on.

Tow

Phoebas wrote: »

I understand that people were disappointed about expected returns, but probably a bit quick to assume wrongdoing.

There are clear conflicts of interest and they cut short the investment by 10 years. If the funds matured after 30 years. The trees felled and sold and the land sold on the open market, as per the prospectus. Then a ~3% return on investment (or even less) then it would be fair and square. Then current situation is another story!

cruizer101

To be fair the original thread was in the farming and forestry forum which whilst there is some connection probably isn't the best place for it, makes far more sense here.

paris24

Postman arrived. What a complete farce