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Sutton Hall Timeshare Club Limited (Exit plan)

Posted on April 22, 2015

Sutton Hall Timeshare Club Limited (Exit plan)

Sutton Hall Timeshare Club Limited

Telephone 01845 597200  Facsimile 01845 597535

Notice of Extraordinary General Meeting (SH/C/72/15)

The Council of Management of Sutton Hall Timeshare Club Limited hereby call an Extraordinary General Meeting to be held at Sutton-under-Whitestonecliffe Village Hall on Saturday,25th April, 2015 at 2.00 p.m. to consider two Special Resolutions:

 Special Resolution 1 would allow Council to create an exit route for owners who wish to surrender weeks to Sutton Hall Timeshare Club Limited (“the Club”), thereby relinquishing their rights and obligations as stated in their licences. It would also enable Council to sell weeks owned by the Club, through a new form of licence that expire at a fixed date, or upon a year’s notice from the licence holder.

Special Resolution 1

This meeting resolves to empower the Council of Management:

 

  1. to allow existing licences to be surrendered to the Club:
  • subject to a payment from the licensee to be fixed by Council, not exceeding a multiple of five times the current management fees, and
  • to comply with any legislation enacted.
  1. to sell weeks already owned by the Club, through Limited Period Licences. Such sales may be made either directly by the Club, or by contract with a specialist partner company. A Limited Period Licence may have either an ending date agreed at the point of sale, or a flexible ending date terminable by the buyer at one year’s notice. The sale price of a Limited Period Licence may include management fees for a fixed number of years specified on the licence.

Special Resolution 2

This meeting agrees to correct two typographical errors in the Articles of Association of Sutton Hall Time Share Club Limited as follows:

Article 18, line 4, change “be” to “by”, so that it reads: “or by a member” in place of “or be a member”.

Article 76, delete the first word “the” of line 3, so that it reads: “….. herein and in the Memorandum …..” in place of “….. herein and the in the Memorandum …..”

By order of the Council of Management

Malcolm Parker, Chairman

For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk

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