FIM Forest Fund I LP Share Sale Summary FIM Forest Fund I LP Share Sale Summary

FIM FOREST FUND I LP

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LIMITED PARTNERSHIP SHARES FOR SALE

6 JANUARY 2020

SUMMARY

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 as follows:

Total number of “Founder” Limited Partnership Shares for sale: 164
(proposed distribution of £58.30 per share is due in November 2020)

Net Asset Value as at 30 November 2018: £2,426.83 per share

The LP is valued on an annual basis as at 30 November. The NAV per share as at 30 November 2018 was published in the audited Annual Report and Financial Statements circulated to Limited Partners on 15 February 2019. The audited Annual Report and Financial Statements include an internal valuation of the forestry investment portfolio undertaken by Gresham House Asset Management Limited in accordance with RICS Valuation (Global Standards).

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 Free Capital Growth (from increase in value of the trees).
  • Proposed Distribution due in November 2020 of approximately £58.30 per Limited Partnership Share and thereafter to increase by CPI + 1% (as calculated at the time).
  • Realisation vote in 2029 and every four years thereafter, with a Final Termination Date of 30 November 2037.
  • 100% IHT relief after two years of ownership.

There is no guarantee that annual distributions will be made. Whether or not there is a distribution and/or 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. At 31 May 2019 the forest portfolio totalled 14,693 hectares (36,308 acres) over 43 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 15 Limited Partnership Shares in October 2019 at a price of £2,950 per share.

CLOSING DATE FOR OFFERS: MIDDAY 20 JANUARY 2020

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

Alternatively, 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/s 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 3 February 2019.

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