- Joined
- Aug 17, 2004
- Messages
- 3,728
- Reaction score
- 101
- Points
- 549
- Location
- Intermountain West
- Resorts Owned
- Maui Schooner; Dikhololo, S.A.; Club Wyndham; Worldmark.
Well, no surprise I guess. The last letter said they were planning to convert the resort to apartments or charge a SA to update the place. I own a 1BR and the amount is R1482, or about $214.
Bad news: the letter goes on to say, After an in-depth discussion regarding the pro's & con's of these proposals [refurbish or convert to apts.] an overwhelming majority of Shareholders voting in favour of closing down the Timeshare scheme and authorized the Board to rent out the units to permanent tenants. Hey, I never got a ballot.
But they still want us to pay this SA!! Of course. We are still "owners". The letter goes on to say, Shareholders would still own the same shareholding as previously in the company called Corrumdale Shareblock Limited.
We might also get a small dividend if the rents are higher than expenses. Ya, I'm beleiving that. Time to get rid of this puppy. It's been a great ride.
Bad news: the letter goes on to say, After an in-depth discussion regarding the pro's & con's of these proposals [refurbish or convert to apts.] an overwhelming majority of Shareholders voting in favour of closing down the Timeshare scheme and authorized the Board to rent out the units to permanent tenants. Hey, I never got a ballot.
But they still want us to pay this SA!! Of course. We are still "owners". The letter goes on to say, Shareholders would still own the same shareholding as previously in the company called Corrumdale Shareblock Limited.
We might also get a small dividend if the rents are higher than expenses. Ya, I'm beleiving that. Time to get rid of this puppy. It's been a great ride.
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