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Lowveld Lodge

Liz Wolf-Spada

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I have emailed the info@ email that came with a bill that I wanted to give the week back to them, no response. My email to Simone came back. Now I got the annual statement and report asking for a vote on what to do. I find the whole thing confusing and I don't know how to translate rand to dollars. It seems like either choice has an increase in payment for upgrades.
Liz
 

Gophesjo

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You can convert Rand to dollars at yahoo.com on the currency converter sub tab of the currency sub page of the finance page. The three letter abbreviation for the Rand is 'ZAR.' The conversion information should give you a place to begin to consider all of this. Good luck!

Joe
 

cedars

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conversion

Hi: I would be interested in knowing whether they sent you any mechanism to vote (proxy forms). I did not receive any nor any response to correspondence. I would not send any more money until the future is clarified. MaryAnn
 

Dori

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I didn't get any proxy form either. Liz, did you try another e-mail address? Sometimes my yahoo address doesn't work, so then I try my hotmail and it goes through.

Dori
 

bailey

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Received my annual owner's report today with proxy form in back. Haven't decided which action to vote on that would be in the my best interest as an owner. Has anyone else made their decision?
 

Dori

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I didn't even see the proxy at the back. It is sitting at home in Toronto, and we are down in Florida, so I guess we won't be voting. It seems like there are no good choices for us as owners. Any idea when this has to be resolved by?

Dori
 

loosefeet

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So, are people waiting to pay their levies? I don't know what to do. Didn't see the proxy, and have no idea what to do. Let's keep this conversation alive so we can stay as informed as we can.
I still have a Castleburn, and the have been easy to deal with-already paid those levies and made my trades!
 

bailey

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Has anyone heard what the results were of the special general meeting to vote on the future status of the resort? The meeting was to be held february 3rd.
 

ansim1

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We just received a letter from First Resorts today. The shareholders voted in favor of Option 3...to terminate the timeshare scheme.

The effect of the resolution is this:

"The Directors have been authorized by shareholders to terminate the timeshare scheme and to rent out the units to long term tennants.

Owners would still remain shareholders and still own the same shareholding as previously in the company called Lowveld Lodge Share Block Ltd, but will forfeit their right to occupy their week. Levies will still be raised to shareholders and the proceeds of rental income will be distributed to each shareholder's levy account in proportion to their levy contributions."

They also stated that the "situation will be concidered annually whether to either re-open timeshare scheme , renew rentals for a further year or to sell the individual apartments. The timeshare scheme was officially terminated on 29th February 2012.
 

Liz Wolf-Spada

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I need to let them know that my interest and willingness to participate is also "terminated".
Liz
 

dundey

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One of my few remaining SA timeshares, Knysna chalets is owned by First Resorts. While there has been no indication of any change from the ts operation, I think Im going to sell it before I have to make that decision!
With an annual TPU of 10 or 11, it now makes sense.
 

Carolinian

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Wonder what percentage of that ''vote'' came from Froggy's points clubs?


We just received a letter from First Resorts today. The shareholders voted in favor of Option 3...to terminate the timeshare scheme.

The effect of the resolution is this:

"The Directors have been authorized by shareholders to terminate the timeshare scheme and to rent out the units to long term tennants.

Owners would still remain shareholders and still own the same shareholding as previously in the company called Lowveld Lodge Share Block Ltd, but will forfeit their right to occupy their week. Levies will still be raised to shareholders and the proceeds of rental income will be distributed to each shareholder's levy account in proportion to their levy contributions."

They also stated that the "situation will be concidered annually whether to either re-open timeshare scheme , renew rentals for a further year or to sell the individual apartments. The timeshare scheme was officially terminated on 29th February 2012.
 
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