Gresham House Forest Fund I LP Share Sale Summary Gresham House Forest Fund I LP Share Sale Summary

GRESHAM HOUSE FOREST FUND I LP

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LIMITED PARTNERSHIP SHARES FOR SALE

21 MAY 2021

SUMMARY

“A” Partnership Shares are being offered on an execution only basis subject to Gresham House Asset Management Limited’s (GHAM) Procedure and Terms of Business (including fees), as set out in Appendix I.

Before considering the investment to which this document relates, prospective investors should in all cases read the sections entitled “Important Notice to Investors”, “Risk Factors”, “Taxation Summary” and “Terms of Business” set out in Appendix II, III and IV.

We have been instructed to find purchasers for Limited Partnership Shares in Gresham House Forest Fund I LP (formerly named FIM Forest Fund I LP) as follows:

Total number of  “A” Limited Partnership Shares for sale: 34
(proposed distribution1 of £59.26 per share in November 2021, plus the 12 month CPI +1% (as calculated at the time), to all Partnership Shares except “C” Partnership Shares which are eligible for a distribution from November 2022).

Net Asset Value as at 30 November 2020: £3,102.00 per share2

The LP is valued on an annual basis as at 30 November. The NAV per share as at 30 November 2020 was published in the audited Annual Report and Financial Statements circulated to Limited Partners on 24 February 2021. The audited Annual Report and Financial Statements include an internal valuation of the forestry investment portfolio undertaken by the Manager in accordance with RICS Valuation – Global Standards (Red Book).

Existing Limited Partners in the LP may bid for any number of shares to add to their holding, there is no minimum.


Summary of the LP

  • Tax EfficientCapital Growth.
  • Proposed distribution1 of £59.26 per share in November 2021, plus the 12 month CPI +1% (as calculated at the time), to all Partnership Shares except “C” Partnership Shares which are eligible for a distribution from November 2022
  • Realisation vote in 2033 and every four years thereafter, with a Final Termination Date of 30 November 2041.
  • 100% IHT relief after two years of ownership.

1There is no guarantee that annual distributions will be made in 2021 or thereafter. 

2Past performance should not be interpreted as an indication of future performance.

3Based upon current UK taxation legislation. Taxation policy could be subject to change. See Appendix II – Risk Factors.

There is no guarantee that annual distributions will be made. The amount of any annual distribution will depend largely on the level of harvesting carried out and the value of the timber harvested. The strategy will be to balance the level of distribution against the objective of providing tax free capital appreciation. Investors should not plan or invest on the basis that distributions will be made.

The forest portfolio comprises 19,010 hectares (46,978 acres) over 58 properties across Scotland, Wales and England.

Please see the following information:

Previous Partnership Share Sale

Gresham House Asset Management Limited, the Manager, last facilitated a sale in the LP of 500 Limited Partnership Shares in  March 2021 at a weighted average price of £3,489.40 per share.

CLOSING DATE FOR OFFERS: MIDDAY 4 JUNE 2021

OFFERS SHOULD BE MADE NET OF FEES (PLEASE REFER TO APPENDIX I FOR DETAILS).

OFFERS CAN NOW BE SUBMITTED ONLINE USING THE LINK BELOW:
ONLINE BID SUBMISSION

Offers can be made in writing or by email to admin@greshamhouse.com. All offers will be acknowledged upon receipt and forwarded to the Vendor on the Closing Date, and not before. Please contact Gresham House before the Closing Date if your offer has not been acknowledged.

Existing Limited Partners may bid for any number of shares to add to their holding, there is no minimum.

For new Limited Partners there is a minimum holding of 20 Partnership Shares.

Please note that all Limited Partners must have a Unique Tax Reference number and must also register their interest in the LP with HMRC using form SA401.

Payment instructions, including an Application Form, will be sent to the successful Purchaser(s) outlining the application process. All Application Forms together with the requisite funds must be received no later than 18 June 2021.

IMPORTANT INFORMATION:
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