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Board » Sailonline Yacht Club » Announcements regarding SYC Ownership of SOL

Some questions answered:

Q1 - Why is this being done?

A – Click here to read Jakob’s article which explains everything.

Q2 - How much it will cost me in USD or EUR?

A - The minimum investment is 100 shares and depending on the number of shares that will be allocated to you after closure of the offer, your cost will be as many SEK as the number of shares ( 1 share = 1 SEK ). Approx. rate of exchange today : 100 SEK ≈ 11 EUR; ≈ 14 USD. Use xe.com to check current exchange rates.

Q3 - What do I need to do after sending in my proposed participation?

A - Just wait for the closure of the offer and you will then be notified with the amount of shares allocated to you. At this time you will receive instructions for payment.

Q4 - What happens if the shares requested by the Community exceeds the number of shares available?

A - Shares will be allocated to individuals on a pro rated basis, in other words, as a percentage ratio between the number requested by an individual and the total number requested by the Community ( e.g : individual request = 1000 ; total request = two times availability, means individual gets half of what was requested).

Q5 - Can I apply for more than 5% (3750 shares) in order to reduce the risk from being pro-rated?

A - No

Q6 - Can I return the shares to the Company or sell them to others in the Community?

A - At the moment the answer is Yes , bearing in mind following constraints :
(i) Shares can be either returned to the Company or sold to other eligible members of the Community, they cannot be sold outside the Community.
(ii) Shares can be sold to the Company practically at any time, allowing time for processing the transfer and with the seller bearing all costs of administration and transfer.
(iii) An internal market for shares selling and purchasing between members of the Community (still via the Company) will be open once a year. (Rules and details to be published asap)

Q7 - I was not an SYC member on 1 May 2013 but want to become a shareholder, how can I do this?

A - If you are an SYC member on the day prior to the opening of the next internal shares market you will qualify then

Q8 - Will more shares be made available in the future?

A - The board will have the right to increase the company capital and offer new shares in future. In that event, the entire Community of eligible SYC members will be allowed to invest, with the criteria in force at the moment of such capital increase. The maximum individual ownership will remain at 5%.

Q9 - Shall I have a financial return or dividends from my investment?

A – No. The purpose of the operation is purely to provide basic financial stability for SOL any profits or surplus will be ploughed back into SOL.

Q10 – Is my investment guaranteed

A – No.

___________

--- Last Edited by RainbowChaser at 2013-10-18 10:52:10 ---
We have sent an invitation to buy shares to SYC members, but some emails were not delivered. Also the mail may have interpreted as spam and found its way to the junk file.
Please check.
If you haven't received an email with an attachment "prospectus...." please notify us to epd-p@telia.com
“If you have announced interest in participating in New Company, AND have not
received a thank-you-email from Svein, PLEASE send a copy/new to him at
svein.a@telia.com”.

Thread is locked.

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Lake Ontario Offshore Racing (LOOR) welcomes racers to the second virtual Susan Hood Trophy race. This is a 75nm weekender on western Lake Ontario starting and finishing at the Port Credit Yacht Club (PCYC) via Niagara and Burlington, and is one of two that will count towards special Sailonline's LOOR Series medals. As our Beneteau/First 36.7 managed the course so well last year, we shall race her again!
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INFOby brainaid.de
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NAM_AWIP WX Updates:
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INFO by brainaid.de
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Race #1573
INFO by brainaid.de
Cape 31 PARTICULARS
WX Updates:
0430 / 1030 / 1630 / 2230
Ranking:
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RACE CLOSE: Sunday,
May 29 at 2300 UTC.
Race starts: May 22nd 08:00 Registration Open!

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Cornelius Vanderbilt, who made his money - that his descendants enjoyed to spend sailing and racing yachts - by recognizing that getting from the East Coast to the West Coast of the USA was best done by rail, would have been more than a little amused to see SOL organizing yacht races over the very route by water he made redundant. It's about 13,000 nautical miles, which compares with less than 3000 statute miles by train! Six years ago, the best SOLers managed to complete the passage from San Francisco to New York in around 36 days, sailing our much-used veteran ocean greyhound, the Super Maxi 100. Time to try again, this time on the VO70. If you aim for a SOG of 18kn, it'll only take you a month.
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INFO by brainaid.de
VO70_v4 PARTICULARS
WX Updates:
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Ranking:
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