Key Post Investment in Irish Forestry Funds

" like pulling teeth to get any kind of hint as to what our return will be"

yep thats for sure

I also decided to call them, I asked were the buyers from abroad or Ireland and was told this information could not be provided....
 
Another update from Ms. McCarthy, although I doubt you could call it an update since nothing has happened
"Thank you for your enquiry. I’m afraid I do not have any further updates at this time. Discussions are on-going between the directors and the interested parties but unfortunately I do not have any new information to provide to you since you were last in touch.
As soon as the directors have further information, an update letter will be posted to shareholders"
You'd have to wonder just what the f**k is going on with these shams. I think at this stage we're being fed a pup, I honestly doubt that there are any negotiations ongoing at all.
 

Misguiding a shareholder would probably be quite illegal I imagine!
 
10th Forrest said:
Misguiding a shareholder would probably be quite illegal I imagine!
Click to expand...

Telling a shareholder the investment is 10 years, and then having to wait >12 years to get your money back, is not also mis-guidance?

What I dont understand is, that the information from the managers of the fund, is that one of the buyers wants to complete this transaction by the end of July, and we the shareholders want the sale to complete soon, so what could possibly be the hold up now?
 
Given what was outlined back in December (two parties, price range already agreed) its hard to know where the blockage is.
 
Another update from Ms. McCarthy, although again it reads like more of the same rhetoric we've been receiving for the past God knows how long -

"The directors are in continued negotiations but as of yet an agreement that satisfies both parties has not been reached. Whilst the directors have everything in place to proceed with this transaction, both parties involved must agree on the terms of the sale, including the final sales price in order to close the sale. Unfortunately as with any sales process, the party selling do not control the process and the directors require a purchasing party to agree to the terms of the sale in order to complete the transaction. As of yet, an agreement has not been reached.

Whilst it is disappointing and frustrating, to the say the least, that the sales process is taking such a long time, the directors are cognisant of their responsibility to shareholders and therefore are not willing to sell the forestry for anything less than a fair price. They are working extremely hard to protect your interests in this situation.

As already mentioned the directors will be issuing an update letter to shareholders in the coming weeks. It hasn’t been sent out as there are no updates to provide as of yet."
 
The law of diminishing returns applies I think. Constantly inquiring will keep returning the same reply until something changes, when that happens we'll be informed.
 
"They are working extremely hard"

One would think they would have a result at this stage, if this was actually the case...

Just curious does anyone have an idea how many of us are waiting for payouts from this fund?
 
"The directors have today advised that material progress has been made and that they expect to have an update issued to shareholders within 1-2 weeks......"
 
I also got the info saying progress is good and IFS should be in a position to send out letters in about 2 weeks. Fingers crossed everyone. One of the posts going back a while was wondering if it is Irish or foreign bidders. It was said to me that the bidders are foreign. That explains a lot when it comes to getting things finalised.

Frankde, it certainly would be interesting to know how many of us there are.......
 
Something that I was wondering about is the "extra" yield from trees that are after all at least one year older than when scheduled for sale. Indeed some will be 3 years older I think.
 

Hi 11Sharehokder That's interesting you were told that the bidder was foreign; I tried twice to get that infomation and was told it could not be provided...
 
10th Forrest said:
Something that I was wondering about is the "extra" yield from trees that are after all at least one year older than when scheduled for sale. Indeed some will be 3 years older I think.
Click to expand...

Yes I would expect those with the older plans get more, as the money has been tied up for a longer period.
Personally I was hoping to use this money for a downpayment on a house, which are increasing about 10% per year
 
It'll be interesting to see the compounded annual return achieved. I suspect it will be far far less than the prospectus and wouldn't surprise me if it is a max 3-3.5% p.a.
 
frankde said:
Hi 11Sharehokder That's interesting you were told that the bidder was foreign; I tried twice to get that infomation and was told it could not be provided...
Click to expand...
Hi Frankde
I didn't actually ask the question as to whether or not the bidders were Irish or foreign but the person I spoke to said about getting on a plane to meet these people so the question was answered without asking.

I really feel for the shareholders waiting a long time after their maturity dates for a payout. If I had to wait another few years I'd be up the creek without a paddle. This investment was earmarked to change my car. I bought the one I have 9 years ago with my SSIA money and it now has 222,000kms. Not sure how much longer I'll get out of it. It's only a little Clio. .
When I was speaking to the person in IFS I asked if there was any remote possibility that we would get the perdicted return of 9% pa and was told absolutely not. I think SK2's estimate of 3-3.5 is far more realistic.
And the wait goes on ............
 
Thank god I found this thread I didn't have a clue what was happening with my investment. I'd be happy to get my money back at this stage. I bought these as a cash rich twentysomething and God do I need them to pay out now as a daddy of 2 with a negative equity mortgage.
How times change.
Anyway thanks to all who posted it's nice to know I'm not alone.
 

Hi 11Shareholder
Thanks for clarifying, at least the are consistent in providing the minimium of information to everyone...

Hope your car holds out till the payment

3-3.5 will be small for money thats been locked away for more than 10 years....

Well hopfully we will have a result this coming week as they promised.
 
Still waiting!! You would get better information from Amazon when buying a book!

How do we know we are not being played?? When do people in a Ponzi scheme finally know they are in a Ponzi scheme?
 
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