Triple Ridge Forest Partnership
Site Visit - $$$ - AGMs
19 February 2001
I apologise for not being in touch earlier as promised. It is time to arrange a site visit and the partnership's first Annual General Meeting.
Each year, we will try to organise a partnership visit to at least one of the four plantations, so we may as well start with the largest one known as 'Triple Ridge' or 'LH3' at Leslie Hills.
I suggest Saturday week, the 10th of March, at 2pm. Please register your interest by phone, fax or email as soon as you are able to, and I will give you more detail and directions. You do not need a four-wheel drive but bring one if you can. Leslie Hills is a few kilometres down Leslie Hills Rd, east off State Highway 7 at the twin bridges over the Waiau River. The bridges are about an hour and a half from ChCh, past Culverden but before Hanmer. The map on the cover of the Triple Ridge Forest Investment prospectus shows the plantation site but not the turn-off. I guess we would spend about two hours at Leslie Hills. It could suit some partners to visit Hanmer Springs at the same time either in the morning or over night, because it's only about 20 minutes from Leslie Hills.
Contributions this year & Budget
Enclosed you'll find a statement requesting this year's contribution in two instalments. However if at all convenient, please pay both at once to save administration. NB: Pay the Partnership, not us.
The total sum requested this year is $550 per unit. Detail of expenditure cannot be finalised until late March after surveys of the need for any re-planting and further 'releasing' (spot spraying around the young trees to reduce competition, and thereby assist early growth). We will probably need little replanting, as survival has been very good, but what is saved there should mostly be spent on releasing.
Tax Deduction Certificates & Financial Statements
The partnership's financial year ends 31st December so the financial statements for last year are being prepared now and will be audited within the next few weeks. You will receive a copy together with a certificate showing your share of the partnership's tax loss. You will be able to deduct that from your taxable income for the year to 31 March 2001, which will mean less tax to pay or a refund.
Inaugural AGM & 2001 AGM
The 2001 AGM cannot be called until we have the audited financial statements and the finalised budget for this year to hand. That will be in a month to six weeks.
However in the meantime the Partnership Deed requires an inaugural AGM. Although just a formality, in the sense virtually no business can be conducted, it still must be held. Accordingly I call it be held at the site visit to Leslie Hills referred to above, among those who attend that occasion. You may, if not attending the site visit, send a proxy if you wish. Notice of the appointment of your proxy must be in writing and addressed to this office.
WARREN FORESTRY Ltd
Manager of the Partnership