MEETING:Annual General Meeting 2020 Held on 22nd November 2020 at Aristo Konia Village 3 Mr. Spencer Pugh Chairman K3OG 33 votes Mr, Steve Butcher Secretary K3OG 21 votes Mrs. Diane Butcher Mr, Ivan Nadalet Owner 21 votes Mr+Mrs P. Wright Owner 21 votes Mr+Mrs. D. Nicholson Owners 21 votes Mr+Mrs. K. Woodward Owners 21 votes Mr+Mrs. G. Austin Owners 26 votes Mrs. E. Leonida Owner 35 votes Unidentified Return Owner 21 votes? TOTAL 199 votes Mrs. Sarah Bevan JBCM Management
QUORUM: Clause 6(h) of the Konia Village 3 Constitution requires a quorum of not less than 4 members holding not less than 10% of the voting rights set out in Appendix A of The Management Agreement. Appendix A shows that owners of properties on Konia Village 3 hold a total of 1000 voting rights. With 9 owners deemed to be present and holding a total of at least 19.9% of the voting rights it is agreed that the terms for a Quorum have been met. COVID: Due to COVID restrictions preventing owners assembling for a traditional meeting, the K3OG committee organised a virtual meeting by adopting the following procedures:- A Notice setting out the date and time of the virtual AGM was emailed to 40 of the 42 registered owners. (We do not have email addresses for the other owners). The email Notice included links to:- The Chairman’s Report The 2019 Financial Statement The 2021 Communal Budget The election of a K3OG Committee for 2021 The re-appointment of our Property Manager for 2021 The re-appointment of our Lawyers for 2021 For full details of all emails sent and responses returned please see the reports here Email & Responses Summary Report APOLOGIES:There were no apologies for absence. CIRCULATION: All Owners [by email] K3OG Website JBCM 1. CHAIRMAN’S REPORT The Chairman’s Report was posted on the K3OG website at the time of the release of the AGM Notice. All owners are deemed to have had sufficient time to review and respond prior to the AGM. The Chairman’s Report is approved by majority vote (See Summary of Voting) Voting Summary Report
2. FINANCIAL STATEMENT 2019 Copies of the 2019 Financial Statement were posted on the K3OG website at the time of the release of the AGM Notice. All owners are deemed to have had sufficient time to review and respond prior to the AGM. One owner rejected the Financial Statement on the grounds that the budget should have been less. The response of the Committee to this comment is:- the budget for 2019 was approved by a majority of owners at the 2018 AGM the Statement is a factual record of monies received and expended during 2019 and shows a clear comparison between the budget and the actual expenditure. The Financial Statement for 2019 is approved by majority vote (See Summary of Voting) Voting Summary Report
3. COMMUNAL BUDGET FOR 2021 Copies of the 2021 Communal Budget were posted on the K3OG website at the time of the release of the AGM Notice. All owners are deemed to have had sufficient time to review and respond prior to the AGM. One owner rejected the 2021 Budget on the grounds that the budget is “way expensive”. The response of the Committee to this comment is:- With the exception of the amounts set aside for (i) the reserve fund and (ii) the general maintenance all other values are based upon the actual cost of services for 2020. If we fail to build up a reserve fund we shall be unable to undertake necessary repair works to communal areas such as roads; street lighting, gardens, communal areas of apartments, and the swimming pool. The Budget clearly shows a reduction of approximately €2’000 from the 2020 Budget. When the KV3 properties were purchased from Aristo Developers in 2007, Aristo advised us that communal charges would be approximately €50.00 per property per month. The 2021 budget works out at an average of €46.83** per property per month and includes items that Aristo did not include in their services such as Communal Insurance. ** Larger 3 bedroom properties pay an average of approximately €70 per property per month The Communal Budget for 2021 is approved by majority vote (See Summary of Voting) Voting Summary Report
4. APPOINTMENT OF PROPERTY MANAGER We have received a letter from our property managers J.B.Complex Management Limited confirming their willingness to continue as our property managers upon the terms agreed between us in April 2018 with a small adjustment to cover the increased services we have requested from them. Details have been posted within the secure (private) area of our website. Click on this link to view agreement The meeting approved the re-appointment of J.B.Complex Management Limited as the property managers for 2020 by majority vote. (See Summary of Voting) Voting Summary Report
5. APPOINTMENT OF LAWYERS By majority vote, the meeting approved the re-appointment of G. Kouzalis LLC as our lawyers for 2021 upon the same terms as agreed on 1st August 2018. By majority vote, the meeting agreed that The Committee should continue with legal action against all owners who are defaulting on their communal charges payments. See Summary of Voting) Voting Summary Report
6. ELECTION OF OFFICERS Not one owner has volunteered to serve on the K3OG Committee and no-one has proposed any changes to the current arrangements. Mr. Pugh and Mr. Butcher have agreed to continue to act as your representatives “pro tem” only with JBCM taking on all day-to-day responsibilities for running the complex. WARNING: We wish to make owners aware that under Cyprus Law there should be a MINIMUM of 3 persons on the owners committee. Owners are warned that they hold joint liability for the current breach. 8. OTHER BUSINESS There being no other business the meeting closed. These minutes constitute an accurate record of the matters discussed at 2020 AGM
