WHY BECOME A SHAREHOLDER?

Becoming a shareholder member offers several significant advantages. At our semi-private facility, governed by a Board of Directors elected by shareholders, acquiring a share is highly beneficial. Currently, Kamloops G&CC offers Class B shares for a one-time fee of $300. While this is a non-equity share, it grants the owner voting rights, allowing the shareholder to influence club governance by participating in the election of Board Directors.  Directors are elected annually for two-year terms during the club’s annual general meeting. 

In addition to having a voice in decision-making, shareholder Members enjoy:
• An annual discount on their membership dues, effectively allowing the share to pay for itself over time.
• 15-day advance booking with the lottery
• Driving range privileges
• Access to club storage in the Pro Shop for an additional fee
• Ability to sponsor a junior for a discount

Non-Shareholders who currently pay annual dues and would like to purchase a share can do so on our Class B Page.

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WHAT ARE MY RESPONSIBILITIES TO MAINTAIN MY SHARE?

As a shareholder, you have a responsibility to keep your share active.  This means that you must satisfy the requirements of article 24.1.  

24.1 Shareholder

(a)​“Active Shareholder” means a shareholder who holds a share in any class of shares who:
(i)​ has attended an annual general meeting of the Company in person or by proxy in the past five (5) years.
(ii)​ pays annual dues in an adult membership category, being one of the following:
(aa)​ Full Play.
(ab)​ Corporate.
(ac)​ Weekday.
(ad) ​Twilight.
(ae)​ Intermediate 1, 2 or 3; or
(iii) ​Purchases a Player’s Card (Does not give the owner shareholder privileges)

(b)​“Inactive Shareholder” means a shareholder who owns a share in any class of shares who is not an Active Shareholder.

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PLAYERS CARD

4.1 A Player’s Card
A Player’s card is not a membership but offers card holders unlimited access to discounted golf for the entire season. The cost of the card is set by the Board of Directors. Included with the purchase of the Player’s Card is your first 18-hole round of golf (cannot be split into two 9-hole rounds). The reduced 9- and 18-hole green fee rates are set by the Board of Directors.

Other benefits include:

• 15% discount in pro shop on soft goods (accessories, clothing etc.)
• Option to keep a Golf Canada Handicap for an additional $50
• 5-day advance booking on tee times (after draw is processed unless playing with a club member)
• 1 unlimited advance booking ahead of the tee time draw during the golf season
  

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TYPES OF MEMBERSHIP AVAILABLE FROM KGCC

(Please refer to the policy for tee time restrictions applicable to all membership categories)

2.1 The following memberships shall be available from KG&CC for both shareholders and non-shareholders:
2.2 Full Play – is a membership for an adult person or corporation with no tee time restriction and includes a driving range pass and a locker, if available.
2.3 Weekday– is a membership for an adult person with play limited to Monday through Friday, inclusive, excluding statutory holidays. A limited play member may play on days other than those permitted by this membership upon paying an applicable green fee plus tax as determined by the Board of Directors.
2.4 Twilight – is a membership for an adult member with play limited to any day after 1pm. Play is permitted before 1:00 pm by payment of an applicable green fee plus tax as determined by the Board of Directors.
2.5 Spousal Couple – is a membership for a husband and wife or two spouses in a marriage like relationship as contemplated by section3(b)(i) of the Family Law Act (British Columbia) where each spouse purchases an adult membership in the same year in which case each spouse will be given a discount of 5% off the dues to be paid.
2.6 Intermediate I – is a membership for an adult person who is of the age of 19 to 25 years of age as of January 1 of the current year with no tee time restriction.
2.7 Intermediate II – is a membership for an adult person who is of the age of 26 to 32 years of age as of January 1 of the current year with no tee time restriction.
2.8 Intermediate III – is a membership for an adult person who is of the age of 33 to 39 years of age as of January 1 of the current year with no tee time restriction
2.9 Junior – is a membership for a person who is 18 years of age or under as of January 1st of the current year. Play any time Monday to Friday inclusive but not including statutory holidays, play Saturday, Sunday and statutory holidays after 12:00 noon. – Permitted to play before noon on Saturday, Sunday and statutory holidays when accompanied by an adult and pays an applicable green fee plus tax as determined by the Board of Directors.
2.11 All adult memberships include:

• Two (2) unlimited advance bookings ahead of the tee time draw during the golf season.
• A junior Sponsorship; Shareholders $150, Non-Shareholders $400

2.12 Shareholders receive discounted dues. Not available for Players Card holders.
2.13 Each membership is subject to sections 18 and 19. Play in each category is subject to the availability of a tee time.

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WHAT HAPPENS IF MY SHARE BECOMES INACTIVE?

Inactive shares may be redeemed at any time according to the provisions of article 24.4.

24.4​ Redemption Rights

(a) The Company may at any time, on giving notice, redeem the whole or from time to time any part of the issued and outstanding shares of the following classes: 
(i) Class A; and 
(ii) Class B. 
And in case only a part of the then outstanding class of shares having redemption rights is to be redeemed, the said shares to be so redeemed will be selected in such manner as the directors of the Company may, in their absolute discretion, determine. 

(b) Subject to this Article 24.4, the Company will pay, for each share being redeemed, the following amounts (the “Redemption Amount”) in respect of:
(i) Class A and Class B shares held by Active Shareholders, the par value of such share.
(ii) Class A and Class B shares held by Inactive Shareholders, the amount of $1.00 per share. 

(c) No shares in any class for which redemption rights are available may be redeemed if to do so would reduce the value of the net assets of the Company to less than the aggregate of the Redemption Amounts of all issued shares in all other classes having rights on liquidation that are equal, or in priority, to the rights of the class to be redeemed.

(d) The following will apply with respect to redemption of shares: 
(i) The notice required for redemption of shares will be in writing addressed to the shareholder and sent as follows:
(aa) by mail to the last address of such shareholder as it appears in the Company’s Central Securities Register.
(ab) in the event of the address of any such shareholder not appearing in the Central Securities Register then to the last known address of such shareholder; or
(ac) by email if an email address has been provided by the shareholder to the Company.
and the notice will indicate the redemption price, date of redemption which will be at least 30 days following the date of the notice, the business offices of the Company where payment of the Redemption Amount will be left for pick up and if only part of the shares held by the person to whom notice is addressed are to be redeemed, the number of shares to be redeemed.
(ii) Payment of the Redemption Amount shall be made by the Company for redemption of shares by payment of cash or cheque and such payment will be left for pick up at the business offices of the Company as stated in the notice.
(iii) Provided the Redemption Amount is paid to the holder of a redeemed share on or before the redemption date as specified in this Article 24.4, the holder of such redeemed share will, thereafter, no longer be entitled to exercise, in respect of such redeemed share, any rights of the holders of shares in the class of the redeemed share, nor any rights against the Company in respect thereof and the share certificate for such share will be cancelled. 
(iv) If payment of the full amount sufficient to redeem the class of shares to be so redeemed is not made on the redemption date, the rights of the holders of the shares to be redeemed will remain unaffected