NOTICE OF ANNUAL GENERAL ASSEMBLY OF Owners Association GLOBAL LAKE VIEW When: Sunday, 13th August 2017 at 12:00pm with RERA Presence. Where: Global Lake View 1st Floor, Function Room. REGISTRATION OF OWNERS COMMENCING 15 MINUTES PRIOR TO MEETING. MEETING AGENDA 1. Registration of persons present at the meeting 2. Proxies 3. Quorum 4. Agenda items 4.1 Election of Board 4.2 Adoption of the Manager Report 4.3 Adoption of General Budget & Service Charges for 2017 4.4 Adoption of Reserve Budget & Service Charges for 2017 4.5 Adoption of Audited Financial Statement 2016 4.6 Appointment of Auditor 2017 4.7 Appointment of Association Manager IMPORTANT NOTICE In accordance with Law 27 of 2007, only Owners or those with proxies or power of attorney of Units that have paid all service charges will be permitted to attend and vote. If you are unable to attend the meeting, and you wish to be represented, you should complete the proxy form appointing as your proxy a named person who will attend on your behalf. All proxies must be received by the Manager by the 24 hours before the commencement of the meeting. To ensure adequate seating is available, can you please confirm your attendance by the 9 th August 2017 to Globallake@place.ae
MEETING PROCEDURES Quorum A quorum for a General Assembly is made up by Owners present personally, by voting paper or by proxy those Entitlements together comprise 15% of the total Entitlements. If no quorum is present within 30 minutes of the time stated in the notice for the meeting to begin, then the meeting will stand adjourned to the same time and place seven days later and the meeting shall proceed with the persons present personally, by voting paper or by proxy at the adjourned General Assembly. No further notice of the adjournment will be given. Proxies All proxies must be in writing on the form provided and returned to the Association Manager at least 24 hours before the commencement of the meeting. A person may not exercise proxy votes where the number of Units represented by proxy is greater than 10% of the total number of Units. Voting Instructions 1. Where a unit is owned by more than one person: a. If a voting paper accompanied the notice of General Assembly, they may vote using the voting paper signed by all of them; b. If both a voting paper and a link to a web based electronic voting system accompanied the notice of General Assembly, they may register to vote and then vote using the electronic voting system; or c. They shall decide amongst themselves who shall exercise their vote and such vote must be exercised by proxy. 2. Where a unit is owned by a company: a. If a voting paper accompanied the notice of General Assembly, the company may vote by completing and signing the voting paper under its company stamp; b. If both a voting paper and a link to a web based electronic voting system accompanied the notice of General Assembly, the company may register to vote, provided voting is made by the duly authorized person using the electronic voting system; or c. The vote may be exercised by a proxy appointed by the company under its common stamp. 3. An Owner cannot vote at a General Assembly if a service charge or penalty due to the Owners Association has not been paid. 4. An Owner may request, before or after a vote, that a motion be determined by a poll of the entitlements of voters, instead of on the basis of one vote for each Unit.
MOTIONS 1. Adoption of the Managers Report 2016 That the Managers Report for 2016, as circulated be adopted. 2. Adoption of General Fund Budget and Services Charges for Financial Year 2017 That the General Fund Budget, as circulated, be adopted and General Fund Service Charges be determined as follows: Period General Fund Service Charge AED/Sqft 01/01/17 31/03/17 4.28 01/04/17 30/06/17 4.28 01/07/17 30/09/17 4.28 01/10/17 31/12/17 4.28 3. Adoption of Reserve Fund Budget and Services Charges for Financial Year 2017 That the Reserve Fund Budget, as circulated, be adopted and Reserve Fund Service Charges be determined as follows: Period Reserve Fund Service Charge AED/Sqft 01/01/17 31/03/17 0.3125 01/04/17 30/06/17 0.3125 01/07/17 30/09/17 0.3125 01/10/17 31/12/17 0.3125 4. Adoption of Audited Balance sheet (Audit Report of 2016) That the Auditor Report as circulated to be adopted.
5. Appointment of Auditor 2017 That one of the below RERA approved auditors be appointed to audit the financial statements of the Owners Association for the financial year 1 st Jan 2017 to 31 st Dec 2017. No. Auditor 2015 Yes No 1 UHY Saxena AED 9000 2 HLB Hamt AED 10000 3 KSI Shah & Associates AED 9500 Please mark (x) next to your approved auditor to register the vote 5. Adoption of the Appointment of Association Manager That PLACE Strata Management LLC, be appointed as the Manager of the Owners Association for the year 2 nd January 2018 to the 1 st January 2019. I/We require that this voting paper, completed by me/us, be recorded as my/our vote in respect of the motions set out above. (s) of Voter(s)... Name(s) of Voter(s)... Unit No......
ELECTION OF BOARD It is proposed to elect a Board for the Owners Association. If you would like to be nominated for the Board please forward your consent to nomination (below) to the Association Manager 24 hours prior to the meeting. The elections will be an open ballot held by a show of hands at the meeting unless those present at the meeting request the elections be conducted by secret ballot. FORM CONSENT TO NOMINATION FOR BOARD Contact Details Name: Address: E-Mail Unit No: Work Ph: Home Ph: Mobile Ph: Documents Attached 9 Title Deed Passport & Visa Power of Attorney or Board Resolution (if Unit owned by a company) Declaration I hereby consent to the nomination for a position / reserve position (delete which is not applicable) on the Board of the Owners Association Global Lake View. I am aware of the obligations of being a Board member and agree to abide by the Code of Conduct as outlined below. ELIGIBILITY CRITERIA 9 Nominees to the Board must be owners whose name appears on the title of the property or if the title deed has not been issued the name in the sales agreement. 9 Nominees to the Board must have paid their service fees up to date. 9 Properties in the name of corporate entities may nominate a person to represent them via a stamped Board resolution and duly authenticated power of attorney. 9 Owners and representatives must provide a passport copy. CODE OF CONDUCT FOR BOARD MEMBERS 1. A Board member must be committed to understanding the role of the Owners Association and the rules by which it operates. 2. A Board member must act honestly and fairly in performing their duties and must not unfairly or unreasonably disclose information held by the Owners Association, including information about the Owner or occupier of a unit, unless authorized or required by law to do so. 3. A Board member must act in the best interests of all Owners. All Board members should not approve contracts with any entity providing goods and services to the property which the Board members owns, partly owns or is employed by. 4. A Board member must not (a) cause a nuisance on the Common Areas; or (b) otherwise behave in any way that unreasonably affects a person s lawful use and enjoyment of a Unit or the common Areas. 5. If a conflict of interest or potential conflict of interest arises at any time, then a Board member must before any debate or vote is taken on the matter to which the conflict relates: (a) (b) disclose that conflict to the Board; and abide by the decision of the Board as to whether they are to be permitted to participate in any de bate or vote in respect of the matter.
PROXY FORM FOR GENERAL ASSEMBLY Owner(s) Details Name of Owner: Name or Co-Owner: Unit No: PO Box: E-Mail Attached: Title deed or PSA or Power of Attorney & Passport copy Building: Global Lake View Home Ph: Mobile No: Proxy Holder Details Name of Proxy Holder: PO Box: E-Mail Attached: Passport & visa copy Home Ph: Mobile No: Declaration of Owner(s) I / we hereby appoint the Proxy Holder named above as my proxy to vote on my / our behalf at: the General Assembly to be held on 13 th August 2017 or if adjourned, the date of the adjourned meeting; or for a 12 month period from the date of this proxy. Please tick preference Declaration of Proxy Holder USE OF PROXY 1 An Owner ( Owner A ) who is the proxy for another Owner ( Owner B ) may vote both in Owner A s own right and also as proxy of Owner B. 2 Where a Unit is owned by more than one person, the Co-owners must appoint by proxy a person to act as their representative. The representative can be either a Co-owner or another person. 3 Where a Unit is owned by a company, a person must be appointed by proxy to act as the company s representative and the proxy must have attached a stamped copy of a Board resolution authorizing the representative to act on behalf of the company. 4 Where an Owner is deceased the vote may be exercised by their legal representative provided the Association Manager is reasonably satisfied as to the status of such representative. 5 A person may not exercise proxy votes where the number of units represented by proxy is greater than 10% of the total number of units. 5 A vote by proxy must not be exercised at a General Assemblya if the person who appointed the proxy is personally present at the Meeting, and is exercising the power to vote on a matter; or b if the person who appointed the proxy has exercised a written or electronic vote on a particular motion. 6 Persons signing under a Power of Attorney must forward a copy of the Power of Attorney with the proxy. Office Use Only Owner(s) name check Owner signed Proxy Holder signed Documents attached Unit Financial Proxy Valid Yes / No