TFSL SHARE SALE FAQ
The following Frequently Asked Questions (FAQ) relate to the TFSL share sale process. For further questions and information, please contact members@tfsl.com.au.
HOW DO I buy a TFSL Share?
If you’re interested in buying a TFSL share and becoming a Member, please register your details with members@tfsl.com.au. You will then complete a Potential Shareholder Form which will be reviewed by the TFSL Board and you will be placed on the waiting list. When new shares come up for sale, these are offered to people on the waiting list in order of when they first joined the list. i.e. People on the list longest get first right of refusal. This means if someone higher up the waiting list thinks a share’s asking price is too high and wants to wait for a potentially cheaper one to become available, people further down the waiting list have an opportunity to purchase.
WHO SETS THE SHARE PRICE and how much DO THEY COST?
The TFSL share price is solely set by the seller and agreed to by an individual buyer. You are buying a share of Thredbo Farm Ski Lodge Ltd, which in turn owns all the lodge property and assets. Price is driven by supply and demand, with recent 2021 sales reaching the mid $20K range. The share price has no direct relationship to the value of the TFSL property and assets, in a similar way to any publicly listed share.
Once you are a Shareholder, you can sign the Membership Agreement and start enjoying the Membership Benefits.
HOW DO I SELL MY TFSL SHARE?
As we have a waiting list, a TFSL Director is responsible for liaising with the seller and notifying potential buyers. The seller simply notifies members@tfsl.com.au of their intention to sell and desired sale price and when a buyer on the waiting list agrees to the price an introduction is made between the two parties. The transaction then takes place between the seller and buyer, with share sale certificates managed by the TFSL Board. A Shareholder can also privately advertise, source a purchaser and sell directly if they wish, noting that Board approval for the purchaser is always required. More specific details are provided in the Company Constitution.
ARE THERE ONGOING FEES?
Yes, as a Member you are required to pay a nominal annual fee that ensures Lodge maintenance costs can be budgeted for. You receive 40% of this fee back as accommodation credits if you’ve paid on time. Capital works that require large investment are generally funded by loans to the Thredbo Farm Ski Lodge Ltd, repaid by retained profits of the Lodge’s operations. Special Member levies may be issued for projects or emergencies, but are not a preferred method of funding. Audited annual financial reports are published in the Members’ Secure Information area of the website.
DO SHAREHOLDERS RECEIVE DIVIDENDS?
No. All retained profits of Thredbo Farm Ski Lodge Ltd are used for ongoing maintenance and improvements to the property and assets.
DO SHAREHOLDERS VOTE ON LODGE ISSUES?
Yes. All Shareholders can vote on resolutions at the Annual General Meeting and the appointment of new Board Directors. The TFSL Board then meets regularly to oversee the operations and planning for the Lodge itself and always considers Member feedback on specific issues. Any Shareholder can be nominated to be on the Board.