Membership Info
Full Membership
Full Membership of the Club is restricted to those persons nominated by the holders of securities in Peregian Springs Golf Holdings Limited (the "Company"), a public company which owns all of the land and assets which are in turn leased to the Club. You cannot become a member of the Club unless you have been nominated by the holder of a security or securities in the Company. An application for a share in the Company, and the nomination of a member of the Club, must be made on the Application and Nomination Forms or on transfer forms if buying an existing share.
Annual Membership
Share holders (full members) can waive (or lease) their playing privileges to another person and this annual member will pay the annual dues for the share holder. The share holder still maintains voting rights and may ask for his membership back at any time ( a pro-rata fee will be applicable as well as 2 months notice) A transfer fee is also applicable of $250 each time a transfer occurs.
Social Membership
Social membership is also available to the club. This entitles access to the Private golf club dining facilities including access to entertain guests at the club for lunch or dinner. You will also have access to our special Member's Bar Prices. If you would like to join as a social member, please click here to download the application form.
Frequently Asked Questions
1. What are Sale Shares?
Sale Shares are convertible redeemable preference shares issued to FKP Limited, by Peregian Springs Golf Holdings Limited, in consideration of the sale of the golf course and associated facilities. They are offered for sale to the public pursuant to a prospectus dated 11th August 2005 ('the Prospectus') and can only be applied for by completing the application form provided with the prospectus. The Sale Shares will convert to Private Shares upon payment in full of the offer price by the applicant.
2. How many Shares will be sold in total?
The issued capital of the Peregian Springs Golf Holdings Limited includes 1,200 Sale Shares. The maximum number of Sale Shares that can be sold cannot exceed that number that results in the creation of 1,200 memberships in Peregian Springs Golf Club Limited excluding the Establishment, Honorary, Social, Country Club, Transitional or Junior Members.
3. How many Shares will be sold in the Prospectus?
The Maximum number of Sale Shares that will be offered pursuant to the Prospectus will not exceed that number that results in the creation of 40 Club memberships. The Directors have also resolved that the Offer will be closed upon FKP Limited allocating 40 Private Shares.
4. Are the Shares able to be transferred?
Yes, subject to the terms of the Constitution of Peregian Springs Golf Holdings Limited. But they may not, except in the event of death or bankruptcy, be transferred in the first two years after the date of conversation.
5. Who can I sell my shares to?
Subject to the approval of the Company and the Club, a Share may be transferred to a person or company entitled to hold that class of Share. The eligibility requirements are set out in the Constitution of the Peregian Springs Golf Holdings Limited.
6. Will there be any transfer fees charged by the Company or Club?
The Company intends to charge a transfer fee upon transfer of a Share. The amount to be charged will be determined from time to time by the Directors of the Company but will not exceed ten percent (10%) of the consideration paid by the transferee or $1,000, which ever is the greater. A "Transfer Fee" equal to one-half of the Trasfer Fee otherwise payable will apply if the share is being transferred to a Family Associate of the Shareholder.
7. How many Members will the Club have?
The Club is limited by its Constitution to a maximum of 1200 Members who are nominated by the holders of Private Shares. This number does not include the Establishment, Honorary, Social, Country Club, Transitional or Junior Members.
8. How do I become a Member of the Club?
All applications for Shares are required to appoint a nominee for membership of the Peregian Springs Golf Club Limited. The appointed nominee's Membership Application Form must accompany the application for the Share, which can only be obtained in the Prospectus.
9. Can a shareholder change its nominee for Club Membership?
Subject to the approval of the Club and the Constitution of the Club a Shareholder may change its nominee for Membership of the Club.
10. Is there any fee to be charged for changing nominees?
The fee to be charged for changing nominees will be determined from time to time by the Directors of the Club. At the date of this Prospectus the change of nominee fee is set at $50.00.
11. Who is a Family Associate?
A Family associate in respect of a person means a spouse, defacto spouse and child who is eighteen (18) years of age or more (whether legitimate, illegitimate, legally adopted, foster child or step child) of that person.
12. What is a Limited Member of the Club?
A Limited Member of the Club has restricted use of the Club's facilities; i.e. no access to the Club's Gymnasium.
13. How and when do I pay for my share?
The first installment of $5,000 is payable to FKP Limited on the application for the Sale Share. The balance offer price will be payable as follows: • One-third (1/3) of the Offer Price payable on or before the date being six (6) months from the date of the allocation of the Sale Share; • One-third (1/3) of the Offer Price payable on or before the date being twelve (12) months from the date of allocation of the Sale Share; The Sale Share will not be converted to a Private Share, and will not be transferred to the successful applicant, until payment has been made in full.
14. Are their any other initial costs?
Any stamp duty, brokerage or GST which may be payable in respect of the Offer Price for the Sale Shares will be the responsibility of the Applicant. The Applicant will be required to pay an additional amount of $100 to FKP Limited at the time of allocation of a Share, in payment of these expenses.
15. When are Annual Membership Fees Due?
The Annual Membership Fee for nominees under this Prospectus for their initial year of membership will be payable within fourteen (14) days of notification of the allocation of the respective Private Share. see here
16. What are the Annual Membership Fees?
Annual Membership Fees will be set by the Club from time to time. For the first year of membership the Annual Membership Fees (GST Inclusive) are as follows:
17. Will there be any other fees charged by the Club?
The Club reserves the right to introduce additional levies from time to time which may be deemed appropriate by the Club. For example, the Club may determine in the future that it is appropriate to introduce a food and beverage levy. Any such levies will be subject to the Constitution and Rules of the Club.
18. Will Peregian Springs Golf Holdings Limited be paying Dividends?
Peregian Springs Golf Holdings Limited is not entitled to pay any dividends while there are any amounts owing to FKP Limited pursuant to a finance facility FKP Limited has provided to Peregian Springs Golf Holdings Limited. No assurances can be given about the future level of dividends (after the finance facility has terminated), or the level of franking, if any.
19. Will GST be payable in respect of the Sale Shares and Annual Membership Fees?
The Sale Shares, like any share, is a financial supply and are consequently input taxed. Accordingly, GST will not be payable on the acquisition of the Sale Share. Annual Membership Fees are payments for the provision of goods and services and will therefore be subject to GST. The members will be required to pay the GST in respect of the Annual Membership Fees. The Annual Membership Fees set out in the Prospectus include GST.
Fees for 2010-2011 |
|
| Private Membership | $2 150 per member |
| Family Membership | $2 150 per member |
| Corporate Membership | $2 150 per member |
| Limited Membership | $2 150 per member |
| Social Memership |
$25 per member |
| Cadet/Junior/Intermediate Membership from |
$400 per member |
