Club Las Calas SGM 2018 Creating a lifetime of holiday memories, - - PowerPoint PPT Presentation

club las calas sgm 2018
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Club Las Calas SGM 2018 Creating a lifetime of holiday memories, - - PowerPoint PPT Presentation

Club Las Calas SGM 2018 Creating a lifetime of holiday memories, year after year Agenda Attendance & Apologies Introduction from the Chairman Hutchinson Trustees Ltd update Explanation of the Resolution Q & A Voting


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SLIDE 1

Club Las Calas SGM 2018

Creating a lifetime of holiday memories, year after year

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SLIDE 2

Agenda

  • Attendance & Apologies
  • Introduction from the Chairman
  • Hutchinson Trustees Ltd update
  • Explanation of the Resolution
  • Q & A
  • Voting
  • Meeting Close

Creating a lifetime of holiday memories, year after year

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SLIDE 3

Welcome- Mike West

Creating a lifetime of holiday memories, year after year

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SLIDE 4

Veranne Wilkinson- Managing Director Anna Rickard- Director Christopher Allen-Director

Creating a lifetime of holiday memories, year after year

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SLIDE 5

Lumsden Limited

  • Original structure was set up by Royal Bank of Scotland

(RBS) using an IOM owning company

  • Hutchinson took over in August 2004, inheriting the

existing structure

  • RBS is holding the shares under a nominee agreement for

Hutchinson

  • In the case of Lumsden, shares in owning company are

held on behalf of the Las Calas timeshare Members

  • Therefore the ultimate beneficial Owner/s are the Club

Members and for that reason the Trustee must always seek the permission of the Club on matters related to its legal structure.

, Creating a lifetime of holiday memories, year after year

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SLIDE 6

Creating a lifetime of holiday memories, year after year

Lumsden Ltd

  • wns

Hutchinson Trustees Ltd

administers

RBS

holds 100% shares

  • wns
  • ccupancy

rights

  • wns
  • ccupancy

rights

Las Calas committee

represents contracts with

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SLIDE 7

Creating a lifetime of holiday memories, year after year

  • Outstanding tax
  • Accrued interest
  • Fine (suspended

by appeal)

requests

Lumsden Ltd

1

pays outstanding tax and interest

2

grants security over debt via bank guarantee

3

grants security over debt via legal charge over some apartments SGM resolution 1

  • One-off levy on owners

Dealing with tax claim during appeal

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SLIDE 8

2018 SGM resolutions

RESOLUTION 1. To Grant Securities and Mortgages Resolution 1 That in accordance with clause 10.2 of the Constitution, the Club shall have the power to grant securities and mortgages over properties for the purposes of covering the tax liability of €1,394,105.00.

Creating a lifetime of holiday memories, year after year

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SLIDE 9

Q & A

  • Before asking your question could

you please give your name &

  • wnership.
  • Be short please so there is time for

all members to ask questions.

Creating a lifetime of holiday memories, year after year

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SLIDE 10
  • Announcement of the Voting
  • Meeting Close

Creating a lifetime of holiday memories, year after year