23 August 2011

Capital Raising for Lodge redevelopment success

Thanks to all the many Debenture holding members and even some Juniors who provided "up front" payments to the capital raising to finance the redevelopment of the Lodge.
We had a strong response as you will have seen from the Annual report.
For those that chose to pay by instalment, the second payment was due in May. If you have not made your payment for that instalment, a reminder notice will soon arrive.
We are now completing a 100% check of all payments and a statement will be sent to all members with their capital payments made and also a guide to future payments, for those paying by instalment.
There are a small number of members, mainly juniors, that will see that their future payments increase over time. This is probably due to movement into more senior membership categories.
The next round of instalments for the capital raising will be in the next subscription invoice round, which will be issued in November for payment in January 2012.

David Stogdale

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