Minutes of The
22 Annual General Meeting
Silver Sands Timeshare Club Ltd
For the Year ended 2007
Held at the Broadwater Pagoda Hotel, South Perth
On the 28th April 2008 at 6.30 pm
The Chairman Mr G Grantham opened the meeting at 6.30pm and welcomed all the owners to the twenty second
annual General Meeting. He asked the members if they were happy to accept him as the chairman for the meeting.
He introduced. Mr G Compson (Vice Chairman), Mr S Gorman, Mr D Wells, Mr Rossi.
Mr I Hill (Manager & Club Secretary & Committee member)
Mrs Dianne Hill (Joint Manager)
Mrs Raylene Gibson (Assistant Manager)
Chairman - A notice of meeting was sent out on the 2nd day of April 2008 in accordance with the articles of
association, therefore I declare that the meeting has been properly constituted.
As there is 104 Members Present (Refer to attached list), representing 187 shares, I declare that a quorum is present
and in accordance with the articles of the club I declare that the meeting open.
It is declared that 134 Proxies have been received from members in favour of; Chairman 122, Secretary 11 and 12
2. Apologies: Apologies were tabled from 16 members.
3. Confirmation of Minutes:
Confirmation of the Minutes of the Twenty First Annual General Meeting have been available on the web site or via
e-mail and circulated to those who requested them.
Moved Peter Faulks that the minutes of the 21st AGM be accepted as a true and correct record.
Seconded, Ted Laurence
All in favour, carried.
The Chairman asked for business arising from the minutes.
There was no business arising from the minutes.
4. Chairman’s Report:
2007 has economically and politically been a year of massive change in Western Australia and Australia. WA has
paved the way for Australia in terms of expansion, with both our resources and real estate sectors experiencing huge
demand internally, over east and overseas. Inflation has been steadily on the rise and as such the amount of
expenditure in the general marketplace has been generous also. Our resort has felt the benefits of that ‘increased
demand inspired’ income and posted yet another year of incredible occupancy levels that other resorts can only
aspire to achieve.
Did I forget to mention that our resort was selected as a Silver award winner in the West Australian Tourism
awards for 2007. This is a fantastic achievement for a 21 year old resort.
The ‘Management Team’ continues to be professionally directed by Ivan & Diane Hill who maintain the level
of administrations that ensure our Resort remains at the very ‘cutting edge’ of the industry. Ivan has once again
been elected to the Board of ATHOC as the WA representative which means that our resort maintains its voice
in any and all deliberations which affect us over East. Our Resorts ‘Management Team’ is the envy of most
and we can consider ourselves very lucky to be able to retain their services.
Once again the Committee undertook to deliver the highest quality of Resort possible for the use of all
members. This has been achieved through the constant attentions made to refurbishment and improvement by
Management and their team. The levels of success of these actions are extremely hard to measure however the
comments that are received clearly illustrate that the general feeling is that ‘the resort has never looked better’.
There have been projects completed throughout the year that are too numerous to mention however one that is
important for all members to note is the complete refurbishment of 2 sample rooms. A program has been
designed to ensure that this project maintains until all rooms are completed over the coming years.
One of the major concerns that has constantly plagued the Resort is the issue of overflow parking. This has
been an ongoing safety concern for both the Mandurah Council and our Resort. The Committee and
Management Team have been very aggressive in addressing this issue proactively over the last few years
however the Council has been largely obstructive. When the opportunity arose to address this problem through
the purchase of adjoining property the Board opted to immediately acquire the land on behalf of all members.
There are advanced negotiations to provide secure parking options in the near future.
Once again the Committee has considered the budget and controlled increases well inside the parameters of
inflation for the coming year. The Board are very proud that our club levies remain amongst the lowest offered
to time share owners within Australia.
We now have more than half of owners who have lodged their titles and share certificates with the Resort. The
Committee wish to thank all those owners who have put their titles in safe keeping with the club. This is an on
going project to ensure the members are not disadvantaged by some delinquent members who have lost their
On behalf of the Committee I wish to make sure that the Team that are involved in the day to day running of
the Resort are recognised. The lavish praises that are extended toward Silver Sands Resort are merely a
reflection of the actions of the people that conduct the Day to Day administrations. The people that are
involved with the Resort are top quality and that is the reason that our resort continues to be top quality.
I would like to say thank you to my fellow Committee members for their confidence in appointing me to the
position of Chairperson. It is a position that I have taken very seriously and enjoyed immensely.
Finally on behalf of the committee I would like to say thank you for the continued support of the members
which facilitates the opportunity for the resort to be run so professionally.
The Chairman said that the counting of votes had not been completed and deferred this item to the end of the
6. To receive and consider the Committee’s report, Profit and Loss account and Statement of Cash Flows for the
year ended 31st December 2007, the balance sheet at that date and the Auditors report therein:
Chairman went through some of the items which may need clarification;
a) The income is $34,000 down on budget or 2% which I would consider to be extremely close to being spot on with a $1.6
b) The Barter Card income is up double due to an increase of Barter Card users coming to the club.
c) The Club rental is up $50,000 due to the weeks that the Club now owns and is renting. As you would be aware the club
has taken the challenge to buy weeks from owners rather than they not be able to sell them. We also have taken the
initiative to take back weeks from the defaulters who we are continually chasing for the levy.
d) Commission’s rental is down on last year obviously due to rental conditions at the time.
e) Foxtel income is diminishing and the committee have elected not to renew our membership this year as to many owners
were unwilling to pay for this service.
f) Interest on levies outstanding is a new item in the P & L and at $14,483 is a considerable sum for this item. The auditors
have decided to make this a separate item this year. The committee has taken the step to make sure that the members
who pay on time are not paying for those members who do not.
g) Telephone is dropping each year due to the use of mobile phones.
1. Last year Bad & doubtful debts were up considerably over 2006 and we said that they will increase again in 2007 due to
the amount of members defaulting. This is what has happened and this is something the committee is addressing the
problem head on. The defaulters will have action taken against them and we will apply the full pressure to have them fall
into line or relinquish their share. Bad and doubtful debts are the write off that is done on debts that are uncollectible,
this year we wrote off more that usual and this should now decrease.
In 2008 as we are now charging the defaulters with reminder fees as well as interest as a start to bring them into line
with club policy. I would also like to remind all owners that we are not heartless and will assist any owner who has a
genuine problem in paying the levies.
2. The only other expense that may need clarification is the Legal fees which have increased due to the Supreme Court
action we have taken to retrieve the titles from the IRN group who took some of our owner’s titles and money some
years ago. We have now received judgment in this case and should have the titles soon.
3. Early bird discounts were taken up as expected and we intend to make this an on going initiative to both encourage
members to pay on time and also bring into line the members who have lost titles. Ivan has informed me that he believes
that there are still some 1,000 titles lost by members and we are going to continue to work towards bringing them into
line with the Clubs policy.
4. All in all the annual report shows a profit of $113,000 which is $100,000 in excess of what the committee had budgeted
for 2007. We are extremely pleased with this profit which has enabled us to do a number of things like Purchase weeks
from defaulters, pay additional interest for the new car park and attend to the ongoing enhancement of the club.
The Chairman asked are there any questions from the floor with regards to the accounts?
Barry Burling; In the accounts the auditor has said that the accounts are correct but then puts a big disclaimer to say if they
are not he takes no responsibility.
Chris Burton (BDO Kendalls Auditors) gave an explanation of the process and said they do not audit at a minimal accounts
level. We only audit to a level of big ticket items. It would be cost prohibitive to audit every account of the club.
Chairman asked for someone to move that the accounts be accepted
Moved, Gail Lawrence that the accounts be accepted as presented.
Seconder Sharn McIntyre-Guyett
All in favour. Carried.
7. To consider the appointment of auditors:
The committee has recommending that we appoint BDO Kendalls for a further 12 months
Moved Jeff Scarfe that BDO Kendalls be appointed for a further twelve months
Seconder, Jim Stevenson.
All in favour. Carried.
8. Any other Business:
a) The Chairman talked about members Titles held at the club.
In every newsletter last year there was an article about tiles being held at the club. This has made some members unhappy
about giving their title to the club for safekeeping.
We wish to say that we have adopted a policy of making sure we deal with this problem.
It would be easy for the committee to do nothing but in the long run the members would not be happy should the committee
take no action to bring this situation into order.
In 2006 we offered our members a discount of $10.00 on the levies for having their title held at the resort for safe keeping. In
2007 we put this situation to the Annual General Meeting and were given a mandate to increase this amount in order to get
this situation sorted. We made the title held discount $25.00 and this was further increased the titles held to over 1450. We
are now looking for the other 1200 titles remaining.
Owning titles on a purple title system is a very old and outdated system and not used any more in favour of Strata titles or
even just shares in a company would be a much easier and less costly system to operate for every one concerned.
We are aware that some members are not happy with the clubs policy on this issue but we would like to remind you that all
the major or multiple owners in the club have placed their titles with the club for safe keeping.
I hope that all members will support the committee in its efforts to bring this problem to a conclusion in the interest of all
b) Ted Laurence - said he is not giving his titles to the club because he had a bad experience with a company and lost some
money in the deal. Although he is not giving them over he is very happy with the clubs current management and has
every confidence that they are safe while the management remains the same.
c) Barry Wilmot - also said he was apposed with the lodging of titles at the club.
d) Ivan Hill (Club Secretary) gave a short response and said that members should remember that the house we bought
members do not have a title to it but you own it. The parking block next door we bought members do not have a title to
it but you own it. A note of interest is that we believe there are more than 1,000 titles lost.
e) G Grantham (Club Chairman) this has been discussed at several AGM meetings and members have endorsed this action
of a discount for titles held at the Club or a penalty whichever way you wish.
f) Barry Wilmot – I move that the Club discontinue the discount on titles held at the Club. Seconded by Miles Gordon.
g) John Langfield – I would like to see the discounts continue so that we can get the titles sorted out.
h) Les Dick – I would like to know if members could send in a copy of their title to show they have it, would that be
i) Ivan Hill (Club Secretary) that is the way we started but members were getting a copy from the lands department and
bringing it to the Club but they did not have the original copy. The Club provides a copy and a receipt for the title.
j) Irene Faulks – if you bring the original to the Club they will give you a copy.
k) Steve Gorman (Committee Member) the sighting of the originals at the Club is not an option for the Club.
l) Barry Burling – members only have a copy of the title anyway.
m) G Grantham (Club Chairman) members should realise that they only have a copy the original stays at Landgate and is
never released to anyone.
n) Phillip Oldershaw – it is inevitable that a developer will come along one day and when that day happens we need to be
in a position to deal with them.
o) Steven Hall – I have my title at the Club and if someone comes to buy the property then the committee will sell it.
Whare are they kept are they safe?
p) G Grantham (Club Chairman) No that will not happen as we would call a special meeting of members to discuss the
matter and provided that we have a clear majority then the members would decide to sell.
q) Ivan Hill (Club Secretary) I can tell you that the committee have discussed the storing of the titles with BDO the
auditors and they have said they would be willing to hold them but as long as they are all there because if you were
coming and going with them the cost would be very high. The Club cannot take the titles as we do not have a power of
attorney for the members.
r) Evan Tweedie – to narrow the field of focus on the defaulters lets make them the primary goal.
s) G Grantham (Club Chairman) yes we are looking for them on an ongoing basis.
t) John Sharples – Do we have any major shareholders that may take over the Club like what happened at Pier Twenty One
where two shareholders just did what they like?
u) G Grantham (Club Chairman) we only have one major shareholder that has less than 5% of the shares so this is not a
problem in our Club.
v) G Grantham (Club Chairman) I now wish to put the motion to a vote. The motion is that the Club discontinue with the
discounts for holding titles at the Club.
w) Those for the motion =3
x) Those against the Motion = 101
y) The Chairman thanked the meeting a declared the motion lost.
z) Eric Weston – through the newsletter we should let the members know that the committee or Club do not have the right
to sign on behalf of owners.
aa) Barry Burling – going back to accounts you seam to have under budgeted for expenses.
bb) G Grantham (Club Chairman) yes we under budgeted for profit as well.
cc) Martin Atley – what is happening with the heating of the pool?
dd) G Grantham (Club Chairman) we have started to put in pipes and it should have been done but other projects have
slowed its progress, but it is happening.
ee) Ted Lawrence – I would like to say that the resort is in its best condition for a 22 year old resort and I would like to
complement the management and committee for their work well done.
ff) G Grantham (Club Chairman) Thank you Ted we appreciate the comments.
gg) G Grantham (Club Chairman) We invite all members to submit your e-mail addresses so we can send you some bonus
weeks for sale at the Club and other Clubs.
The Chairman then asked the club secretary to announce the results of the election of directors.
Mr I Hill (Club Secretary) In accordance with the articles of the club’s rotational policy two members stood down from
the committee, they are Mr Glenn Grantham and Mr John Rossi.
Both members offered themselves for re-election and nominated again.
Member Mr John Alberti also offered himself for election to the committee.
As there were three members offered for two positions an election was conducted and ballot papers were sent to all
members of the club on the 2nd of April 2008.
I have now been given the results of the ballot and declare the votes as follows;
363 members voted with a total of 1095 votes being cast,
Mr J Alberti – 235 votes, Mr J Rossi – 397 votes, Mr G Grantham – 463
The secretary declared that Mr J Rossi and MR G Grantham are elected.
The Chairman then thanked the members for their attendance and invited them to stay for refreshments.
Meeting Closed at 7.30pm.