Results of the SGM held at the club on 25 June 2011, as follows:

1.     Resolution 1: to consider and if thought fit, approve a special levy for the renovation and improvement to the ablution facilities.

a.     Total No. Votes:       80

b.     Votes Abstain:         2

c.     Valid Votes:             78

d.     Votes For:               61 (78.21%)

e.     Votes Against:         13 (16.67%) 

By 78.21% in Favour Resolution 1 was passed. 

Invoices have been distributed and members will be able to arrange suitable payment schedules with Clair Harvey. 

2.     Resolution 2: approve changes to the conditions of sale of Club property 

2.1   The following restrictions to be removed

                                  i.    Currently owners are not allowed to sell vacant stands.

                                 ii.    Owners have to build within a certain period.

                                iii.    Only club members are allowed to buy stands, stands will be available on the open market. 

a.     Total No. Votes:       80

b.     Valid Votes:             78

c.     Votes Abstain:         2

d.     Votes For:               61 (78.21%)

e.     Votes Against:         13 (16.67%) 

By 78.21% in Favour Resolution 2 was passed. 

3. Resolution 3: approve the purchase of 3 (three) stands of Lakeview Development 

a.     Total No. Votes:       80

b.     Votes Abstain:         7

c.     Valid Votes:             73

d.     Votes For:               37 (50.68%)

e.     Votes Against:         32 (43.84%) 

Resolution 3 did not achieve a two thirds majority vote (66.66%) and therefore failed to achieve approval.

Please be advised of a Special General Meeting scheduled for 25 June 2011 at the club at 11h00.

Attached please find the Notice and Agenda, a Voting form and a Proxy Form.

If you are unable to attend and wish to appoint a proxy to attend and vote on your behalf, please complete the
Proxy Form and either e-mail to lukwan@iafrica.com or fax to 086 687 1719.

Alternatively send directly to the Club office; e-mail ldyc@telkomsa.net or fax 016 371 2343

NOTICE AND AGENDA
of a
SPECIAL GENERAL MEETING
of
LAKE DENEYS YACHT CLUB

Notice is hereby given to all members of Lake Deneys Yacht Club (LDYC) that it proposed to alter the
Constitution of LDYC, at a Special General Meeting, to be held at the club, Union Street, Deneysville, on
the 22nd day of May of 2011.