Special Resolution re SWT Agreement
South West Trading have, for the last two quarters, withheld the payments due to AYC under the Deed of Covenant that was signed on 30th April 2016. A number of meetings have been held with SWT but, to date, no abiding written agreement has been reached to resolve their list of issues/requests.
South West Trading and Antigua Yacht Club Marina have also apparently been reorganised into new corporate entities, with revised board structures. Details of these changes have been requested but have yet to be received.
The Board proposes to give an update on the situation at or before the AGM, hopefully with recommendations on a way forward. As per registered Bye-Law 16.2, any such amendment to existing SWT agreements will require the approval of the members at the AGM, or subsequent EGM.
Should further information become available, it will be distributed by the board to the members in advance of the AGM.
Antigua Yacht Club
Special Resolution re: The Club House Lease
Angie Dickinson has requested that her current lease, signed in September 2016, be renewed as per the wording of her current lease.
Unfortunately the sub-committee of the Board set up to renegotiate it at that time inadvertently agreed to what effectively, due to the legal wording, is an open ended agreement, something that the Board, under By-Law 16.3 is unable to do without a Special Resolution approved by 70% of Members present at an AGMand despite the Members rejecting a proposed 5+5 year lease in May 2016.
Angie has proven to be an excellent tenant and in the last 6 years has done much to promote and support AYC.
The Board proposes that Angie be offered a modified 5 year lease, backdated to September 2019, with an option of another 5 years, at the end of which the Lease would have to be renegotiated under the terms of the By-Laws in force at that time.
Board Of Directors