Shareholder Advantage
Becoming a shareholder at KGCC for a one-time fee of $300 grants you a 5% discount on annual dues, and voting rights in club governance, with the opportunity to influence board elections, making it a valuable investment as we transition to a new dues structure in 2026.
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, shareholder receive a 5% discount on their annual dues, effectively allowing the share to pay for itself over time. (dues paying spouses who own 1 share are eligible for a 5% discount for both memberships).
As we prepare for the 2025 season, we are actively encouraging non-shareholders who currently pay annual dues to consider purchasing shares. Starting in 2026, our annual dues structure will introduce a clearer distinction between the perks, privileges, and pricing for shareholders versus non-shareholders.
This is an opportune moment to join our historic club and become a voting member.
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
(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
(af) Social; or
(iii) purchases a Player’s Card.
(b)“Inactive Shareholder” means a shareholder who owns a share in any class of shares who is not an Active Shareholder.
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