Dissolution of Delhi Belgian Club Ltd.
Hello fellow shareholders – we had a very successful meeting on Wed. May 22 and this is the results of that meeting.
It was voted on and approved that we 1) dissolve "the Corporation" of The Delhi Belgian Club and 2) pay all final bills and disperse all funds held in the Corporation's bank account.
THEREFORE - you have the choice of selling your share back to the Delhi Belgian Club OR donating your share to the Corporation. If you donate the value of your share to the Corporation it will donated to the Norfolk Community Foundation. This is an organization which invests the money donated, in the name of the Delhi Belgian Club, and uses a portion of the interest each year to make donations to such things as the Delhi Community Health Center, The Royal Canadian Legion, school bursaries or any other community organization it is directed to donate to, on BEHALF of, and in the name of, The Delhi Belgian Club. In this way the Delhi Belgian Club will continue to be recognized throughout the community for years to come. If you wish to donate the value of your share to any other organization (i.e. The Delhi Community Health Center) directly - it will be your responsibility to do so personally as we cannot be responsible for, or issue a tax receipt to you for any other organization.
Over the years of operation, The Delhi Belgian Club distributed 3 different types of shares - they are as follows:
- The Common Share (BLUE certificate) - these are the oldest shares
- The Preference Share (GREEN certificate) and
- The Class "A" Special Share (RED certificate)
If you wish to sell your share back to the Corporation, they will be paid out as follows:
- The CLASS "A" SPECIAL SHARES - these are the RED share certificates - will be paid $250.00 (which is what you paid for the share).
- The PREFERENCE Shares - the GREEN certificates - will be paid $100.00 (same as was paid for the share)
- The COMMON Shares - these are the BLUE certificates - THESE SHARES CANNOT BE PAID OUT AT THIS TIME, but will be paid by equally dividing, among all Common Shares, whatever money is left in the Corporation after all bills are paid out and there is no other monies owing to any one. This amount could be higher or lower than 100.00, but that will not be known until, as I said, all other bills are paid.
Attached you will find a form to fill out, which will give us direction as to what to do with your share(s). There is a paragraph on this form for those of you who have lost your certificate as well as for those of you who will be dealing with the share(s) on behalf of a deceased family member. This form, along with your original share certificate(s), are to be dropped off at BRIMAGE LAW OFFICE - 160 Main Street, Delhi ON. (beside Julie's Travel in Delhi) NOTE: THEY WILL NOT BE ISSUING ANY PAYMENT TO YOU at that time - you will simply be dropping off your papers for us to collect. Please - DO NOT bring them to me directly as I no longer have an office to come to.
Please sign the back of your share certificate and complete and sign the attached form. We will be gathering the paperwork from Brimage Law Office and will then process your payment/donation. This will take some time to complete as All paperwork and cheques are to be seen by and signed by the executive of the Delhi Belgian Club.
For those of you who will be dealing with share certificates on behalf of your living children/parents etc., please attach a signed note from the child/parent etc., as to their wishes.
Hope this information is helpful
Delhi Belgian Club
Attachment: Share payout/donation form (PDF)