FAQs
Ownership of the property (Erf 35 of the Farm Klipfontein no.414, Riversdale) is registered in the name of the company Wild Goukou (Pty) Ltd (previously named Protection of Wildlife Properties Proprietary Limited). Your investment buys a bundle of shares in the Company. The share bundle gives you the following rights:
- to vote on any matter to be decided by the Shareholders of the Company
- to the exclusive use of one of five Exclusive Use Areas, which will include a 72 m2 cottage to be built by the Company during the first year after subscription
- to participate proportionally in any distribution made by the Company
- to receive proportionally the net assets of the Company upon its liquidation
Five cottages will be built by the Company during the first year after issuing five Exclusivity Rights shares. Each of the five investors holding one of these shares will have the right to the exclusive use of one of the five cottages.
The subscription price includes a R140,000 share premium contribution to a maintenance and improvements reserve fund that the Company will use to maintain the property’s value, including the cottages, and make small improvements to enhance value and amenities, as proposed and agreed by the shareholders.
The subscription price further provides for targeted upgrades of the Company’s existing rental stock and existing energy and water supply systems.
Shareholders will elect a Board of five directors to oversee the operations and maintenance of the property, including the nature reserve. As one of the five new shareholders, you will hold 9.8% of the Company’s Issued Shares.
In concert with the other four new shareholders, you’ll elect two directors on to the Board. The founding shareholders, holding the majority of shares, will elect the other three directors.
Significant decisions will require support from at least 80% of shareholder votes in a poll, where every shareholder will have one vote for every share they hold.
The purchase price of a 9.8% share bundle is R1,982,834. This secures a bundle of 9,799 ordinary, no par value shares and one Exclusivity Rights share, representing a 9.8% share of the Company’s 100,000 issued shares upon conclusion of all the five new investment transactions.
The Strategy rests on the property users – those shareholders holding rights to Exclusive Use of an Exclusive Use Area – contributing to the running costs through the payment of monthly levies.
During the first year, while the Cottages are under construction, levies will be R550 per month to cover basic costs only, including administration and a conservation contribution towards maintenance of the hiking trails and ecological restoration activities.
Levies will increase to R1,650 per month in the second year, upon completion of the Cottages, to include maintenance, insurance and utility services provided by the Company.
Shareholders who wish to sell their share bundle must first offer it to the Company which may find a buyer for the shares, or the shareholders may decide between themselves to buy the shares and add the cottage to the rental stock.
Should the Company not take up the opportunity, the shareholder will be at liberty to sell their equity at the same price that was offered to the Company.
Upon liquidation of the Company, the net assets of the Company will be divided proportionally among the shareholders.
A share bundle can be acquired by an entity (any juristic person, association, business, close corporation, company, concern, enterprise, firm, partnership, joint venture, trust, undertaking, voluntary association, body corporate and any similar entity) provided that one natural person must be nominated in writing to represent the Entity or trust in company affairs.
The Company will maintain the nature reserve, including the hiking trails and alien vegetation clearing, with the assistance of the Wild Rescue NPC, which occupies premises on the property in terms of a lease.
NPC staff and volunteers are accommodated in the Homestead (the sixth exclusive use area) occupied by the founding shareholder of Wild Goukou and Executive Director of the NPC.
The Cottages are assets owned by the Company and maintenance and improvements are the responsibility of the Company. Any decision to make changes to the asset must be ratified by the Shareholders.
A visit to the site is highly recommended as the first step. During March and April 2023, there’ll be an opportunity for remote viewing of documentation and Company financials, following which a Share Acquisition Agreement may be entered into between the purchaser and the Company.
The Share Acquisition Agreement will become effective, and shares will be registered in the name of the purchaser, upon fulfilment of all suspensive conditions, one of which is that there must be similar commitments from four other purchasers by mid-May 2023 (or a later date by agreement of all parties), this being a financial necessity of the Sustainability Strategy.
Contact Jenny Whitehead to request access.
Documentation available for scrutiny includes the Company MoI, proforma Transaction and Shareholder Agreements, Company Financials and other confidential documentation. Book an appointment with Gill or Jenny to find out more.
The technical team engaged by Wild Goukou to implement the Sustainability Strategy brings a full set of relevant skills, local knowledge and many years of experience toward its successful realisation.
No pets or domestic animals will be allowed due to the nature reserve status and the local free-ranging wildlife. Research shows that domestic animals have a negative impact on wild ecosystems. There is also the real risk that a pet could become prey to, for example, an owl or caracal.