PROSPECTUS - THE PREMIER IRISH FORESTRY FUND PHASE II PLC.
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INVESTMENT STRATEGY.
The objective of this fund is to invest shareholders' funds in commercial woodlands in Ireland. Following the fund- raising process, the directors will invest the Fund's net capital as early as possible with a view to maximising investors returns, subject to the availability of suitable sites.
A preliminary investigation into suitable site availability has been conducted, and, based on this analysis, the directors have formulated an investment strategy of which the principal elements are:
1. Only sites of a high yield class will be acquired, to enable implementation of the Fund's forest management strategy ( outlined hereafter ) with a view to maximising final crop yield at an early maturity date.
2. New plantations will only be established only sites where grant and premia approval can be obtained.
FOREST MANAGEMENT STRATEGY.
The Premier Irish Forestry Fund Phase II Plc. has ensured that environmental sustainability is an integral part of the Forest Management Strategy. This Forestry Fund includes environmental controls and as such is fulfilling an implicit requirement of both the shareholders and the public for future years. Good environmental management will ensure that any potential environmental impact associated with the activity is controlled and the positive sustainable elements are promoted.
The Fund will operate in line with a documented Environmental Policy Statement, approved by the Directors, outlining the funds commitment to the environment. A formal Legislative Library shall be established and maintained up-to date by the Environmental Consultant to the Fund. Best Practice Guidelines shall be established and adhered to for the activities carried out during the purchase, afforestation and maintenance of the forest. Any services sub-contracted shall also be required to follow established guidelines.
The environmental performance of the Fund shall be assessed annually through a formal review by Dr. M. C.Scannell. An Annual Environmental Report shall be published in line with the financial report and provided to the shareholders. These annual environmental audits shall include, as appropriate, reviews of sub-contracted services employed. All environmentally related records relevant to the Fund's activities shall be maintained and shall form part of the annual review.
Land is to be purchased subject to attaining Forest Service approval and satisfying quality assessments, as prepared by Mr. P. Donovan. Afforestation and maintenance grants will be applied for. Mr. Donovan will assess the planted land prior to Forest Service appraisal. The Directors believe that this is necessary to ensure that the long term interests of the investors are maintained. Subsequent to the consultant's report and recommendations having been acted upon by the Forestry Contractor, the Forest Service will provide the necessary inspection to ensure that the contractor's obligations have be met.