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Irish Forestry Funds Sale

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  • 21-08-2019 6:40am
    #1
    TradeGenetics
    Registered Users Posts: 3 ✭


    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


«13456

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    #2
    Count Hairyfoot
    Registered Users Posts: 91 ✭✭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.


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    #3
    Davo222
    Registered Users Posts: 24 ✭Davo222


    So much for democracy, where are these substantial returns?


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    #4
    FishHook
    Registered Users Posts: 79 ✭✭FishHook


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


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    #5
    Just joined
    Registered Users Posts: 2 ✭Just joined


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

    Which fund fish hook?


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    #6
    Davo222
    Registered Users Posts: 24 ✭Davo222


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


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    #7
    Robodoc
    Registered Users Posts: 25 ✭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.


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    #8
    FishHook
    Registered Users Posts: 79 ✭✭FishHook


    Single share. Third Irish Forestry Fund.


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    #9
    FishHook
    Registered Users Posts: 79 ✭✭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 ?


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    #10
    Tow
    Registered Users Posts: 6,407 ✭✭✭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.

    When is the money (including lost growth) Michael Noonan took in the Pension Levy going to be paid back?



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    #11
    Robodoc
    Registered Users Posts: 25 ✭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


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    #12
    Hatters
    Registered Users Posts: 10 ✭Hatters


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


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    #13
    Tow
    Registered Users Posts: 6,407 ✭✭✭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..

    When is the money (including lost growth) Michael Noonan took in the Pension Levy going to be paid back?



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    #14
    tomgilboy
    Registered Users Posts: 19 ✭tomgilboy


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


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    #15
    paris24
    Registered Users Posts: 30 ✭paris24


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


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    #16
    Robodoc
    Registered Users Posts: 25 ✭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.


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    #17
    Davo222
    Registered Users Posts: 24 ✭Davo222


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


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    #18
    Anne Smyth
    Registered Users Posts: 1 ✭Anne Smyth


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


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    #19
    paris24
    Registered Users Posts: 30 ✭paris24


    Absolute snakes so they are


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    #20
    Robodoc
    Registered Users Posts: 25 ✭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


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    #21
    paris24
    Registered Users Posts: 30 ✭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


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    #22
    nerine
    Registered Users Posts: 30 ✭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


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    #23
    paris24
    Registered Users Posts: 30 ✭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?


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    #24
    Davo222
    Registered Users Posts: 24 ✭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.


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    #25
    Robodoc
    Registered Users Posts: 25 ✭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


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    #26
    Tow
    Registered Users Posts: 6,407 ✭✭✭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.

    When is the money (including lost growth) Michael Noonan took in the Pension Levy going to be paid back?



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    #27
    Robodoc
    Registered Users Posts: 25 ✭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


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    #28
    Spain Calling
    Registered Users Posts: 8 ✭Spain Calling


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


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    #29
    antietam1
    Registered Users Posts: 355 ✭✭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.


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    #30
    tomgilboy
    Registered Users Posts: 19 ✭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 ?


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    #31
    John C 1981
    Registered Users Posts: 63 ✭✭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?


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