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15| The IFP -H alton H ills | T hursday,July 5,2018 theifp.ca SAT JUL 21 JOHN ELLIOTT THEATRE 9 Church Street, Halton Hills 905-877-3700 HaltonHills.ca/Theatre GET YOUR TICKETS TODAY! 8PM THE EAGLES THE GREATEST HITS TRIBUTE STARRING "TAKE IT EASY" $39 All Inclusive GlenWilliams Canada Day Duck Race 2018Winners Georgetown District High School, School Council andThe GDHS SwimTeam Congratulate the winners of this year's Duck Race! The GDHS SwimTeam thanks theTown of GlenWilliams, the Duck Race sponsors and donors, and everyone who bought tickets for their support! 1st Place: 4345 - Janice Koehler 2nd Place: 4986 - John Leatherbarrow 3rd Place: 5247 - Carmen Hickson 4th Place: 4510 - Sandy Kligman 5th Place: 4861 - Dave Cox 6th Place: 4563 - Rocco Romeo 7th Place: 3680 - Jessie Damman 8th Place: 5009 - Jeff Irvine & Kyra Kristensen-Irvine 9th Place: 4251 - Carol Morgan 10th Place: 4578 - Peter Rodrigues by Justice Glustein, who recently assumed control of the proceedings after Justice Edward Belobaba took a medical leave of ab- sence. "The central problem of the shareholder situation with the club still remains; 50 per cent of the share- holders no longer want to play golf at the club and want to receive their $90,000 share value, and the remaining 50 per cent want to play golf and trap the $20 million of the shareholder equity of those who don't play," said Noble, a Georgetown na- tive who now resides in B.C. "The club has no opera- tional plan for these share- holders to ever receive their proper share value." The club held a special shareholders' meeting in October 2017 to determine whether to entertain the best two offers - as deter- mined by broker-of-record Colliers International - to sell the land and buildings, requiring a two-thirds ma- jority vote to pass. The final tally was 212 voting against and 206 for the sale of the club. Noble said the process of soliciting offers through Colliers International con- firmed that the actual shareholder value is ap- proximately $90,000, which was what had been estimated in court docu- ments filed in the minori- ty-shareholder oppres- sion-remedy class action. Yet those looking to di- vest their shares in the club have only been of- fered a fraction of that amount in recent years and they can only sell their shares to other members. In his 37-page ruling, Justice Glustein pointed out that "other golf clubs had reduced their initia- tion/share prices to any- where between $0 to $15,000, with an average price of less than $9,000," and that the submissions of the class were not sup- ported by evidence. He added that by recom- mending the share sale programs, the club's board of directors provided a mechanism to avoid con- sistent losses, decreased membership and dwin- dling revenue, so that the club could effectively maintain operations and likely benefit from in- creased land value over time. Noble said he has not yet decided whether to file an appeal by the July 21 deadline. NEWS l Continued from page 3 Plaintiff says appeal of ruling is possible