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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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Galway Redux TIMED Race 2022
As we last did in 2017, we come to Galway for another TIMED race. Starting from Acaill Bheag, we sail around the coast of County Galway for around 90nm to finish in Galway City. While the weather is generally mild, it gets the occasional severe windstorm which is key to setting a quick time in our Seacart 30s. Feel free to try as much as you want - that is, once you have brought your boat to Galway City first.
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Race #1618
INFO by brainaid.de
Seacart 30 PARTICULARS
WX Updates:
0430 / 1030 / 1630 / 2230
Ranking:
TRQ4 - TRCH - SUPSOL - SYC
RACE CLOSE: Sunday, 16 October at 23:00 UTC
Race starts: Oct 03rd 12:00 Registration will open soon

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Round Britain and Ireland 2022
We invite you to participate in the 1780 nm race according to the clockwise movement around Ireland, Scotland, Shetland Islands and England. We will have four waters: the North Atlantic Ocean, the Celtic Sea, the North Sea, La Manche Channel. Each of them has its own specific navigation conditions but we will not exchange them here. Watch out for cyclones forming in the vicinity of Iceland and wandering in the south - east. The wind speed at this time of year can reach up to 40 kts and even more. Let's hope that sailing experience and our Sunfast3600 will safely lead us to the finish line.
Race #1625
INFO by brainaid.de
Sun Fast 3600 PARTICULARS
WX Updates:
0430 / 1030 / 1630 / 2230
Ranking: SYC
Race starts: Oct 01st 18:00 Registration Open!

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Tour Down Under 2022
It will be 694nm of killing racing on an amazing route created by SOL'er AGage. In the chat of the first edition of this race, Tyger wrote "Only an Aussie (and a crazy one) with intimate knowledge of these waters could have come up with such a racecourse". Well maybe AGage was a bit crazy, but he was also a genius when he made it, inspired by the great cycling race "Tour Down Under". Instead of bikes we will use fast 60ft Trimarans. So rest well and prepare large amounts of coffee. You will have at least two days without sleep. 😊
Race #1595
INFO by brainaid.de
60ft Trimaran PARTICULARS
WX Updates:
0430 / 1030 / 1630 / 2230
Ranking:
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RACE CLOSE: Monday, 3 October at 23:00 UTC
Race starts: Sep 25th 02:00 Registration Closed

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