Bantry Buzz. Annual newsletter of Bantry Bay International Vacation Resort

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1 November Annual newsletter of Bantry Bay International Vacation Resort The spectacular view of the pool deck and across the bay taken from Bantry Bay International Vacation Resort Cape Town has been named second-best city in the world and best city in Africa by readers of US-based travel resource Condé Nast Traveller. The 25th annual Readers Choice awards were recently announced by Condé Nast, after close to readers took part in the survey. The other cities in the top 10 included Florence, Bangkok, Vancouver, Sydney, Beirut, St Miguel de Allende, Buenos Aires and Gustavia.

2 But as owners of Bantry Bay you already know that this is the best place on earth to relax and enjoy your holiday. Next year will also see the introduction of a new inner city bus service MyCiti and these will travel directly past the resort, with stops within 100 metres. This will be a great addition to the area especially with the parking problems we have. The continuous upgrading of all aspects of the Resort is an essential component in our drive to ensure that your timeshare remains second to none. A number of recent refurbishment activities have been undertaken and these will continue in as outlined in our Chairman s report. Resort blog Last year we started listing Owner s Weeks for sale on our resort blog site and this has proven to be quite successful. Any owner wishing to list their week may do so at the following address bantrybayinternational.blogspot.com Interval International s introductory offer expires on 31st December. See page 10 for full details. Please do not hesitate to contact our reservations for more information or for help with regards to the offer. Western Province rugby Western Province rugby fans can finally shout loudly, after an 11 year drought in silverware. They can now dust down the trophy cabinet and place this year s Currie Cup on display. WP Jou Lekker Ding... as a Bulls fan this was hard to type, but fair s fair. Adam Small retires At the end of December we will see the longest-serving staff member, Adam retire from Bantry Bay to enjoy more time with his wife Linda and family. Adam joined Bantry Bay in March 1992 and during his 20 years has kept the resort in great shape and made many friends with owners and staff alike. Educational teambuilding This year we will be taking the team to the winelands in November to discover the beauties of the area and of course to sample some wines. Dates for refurbishment & renovations Neptune Penthouse June Flexi occupation requests during the weeks allocated for the renovation will be accommodated in a similar apartment type. We will be replacing the balustrades and sliding doors on the first and second floors between June and August. Levies Once again a big thank you to all the owners who settled their levies on time. Again would like to encourage the use of the electronic transfer facility when paying your levy as this reduces the banking charges. Please also remember to use your account number - to 2 3

3 be found on the bottom left hand corner of your statement (eg BBIB0001) - as a reference. Levies are due on 01st January and are interest free if payment is received before 31st January. Thereafter interest will be charged monthly on outstanding balances. Flexi allocations All owners are reminded that the timeshare weeks are allocated in accordance with the flexi rules of the resort and you must reserve, bank or request a flexi exchange annually before 01st March. Should you not do this, the week will fall into the forced rental pool. Finally our neighbours are putting the finishing touches to their building project. All of us at Bantry Bay will be happy to see them pack up their tools. Whilst I am sure they will find a few snags to attend to, it will be great to get back our peaceful and dust free Bantry Bay. I extend my sincere thanks to Melita and the staff for their commitment to Bantry Bay as well as to the board of directors and Mr Jenkings for all their support throughout the year. We all look forward to seeing you again and trust you will have a pleasant and memorable. Sean Daly General Manager COMPETITION QUESTIONS 1. What is our Blog Site address? 2. Who will retire in December after 20 years service? 3. On what date does the Interval International special offer to Bantry Bay owners expire? RULES 1. Send your answers together with your levy payment. 2. All entries must be in before 31/01/. PRIZE V & A Waterfront gift voucher to the value of R WINNER Mrs AS Niekerk Awards RCI Gold Crown / Interval International Select Resort 4 5

4 CHAIRMAN S REPORT As draws to a close, we look back on a year which has (as usual) had its lows as well as its highs. The most significant low from both owners and guests point of view was the continued construction work on the building next door, which has negatively impacted so many people s holidays. This is now drawing to a close and the work will be finished (we hope!) by the time you read this newsletter. On the high side the following major works were completed during the year: The 4th and 5th floor refurbishment was completed with all fabrics and carpets being replaced. The 701 penthouse was fully refurbished and altered to accommodate the 2nd bedroom into the unit. The installation of a wireless fire detection system throughout the resort. New flat screen TV s and DVD s in all apartments. All of this was completed without having to raise any special levies and, based on our current forecasts, the resort will end the year in a strong financial position. This is in no small measure due to the efforts of Sean and his management team in keeping costs as low as possible, without in any way sacrificing the high standards to which our owners are accustomed, and to the greater majority of owners who diligently pay their levies when due. Sadly, as I write this report, levies are still outstanding on 32 weeks (1.8% of the total) and, unless the total outstanding, together with interest, is settled before the end of the year, these weeks will be repossessed and sold to recover the levies. Looking to, the major works planned are: Refurbishment of the Neptune unit.... based on our current forecasts, the resort will end the year in a strong financial position. Replacement of the balustrades on the 1st and 2nd floor balconies. Replacement and re-waterproofing of the aluminium sliding doors on the 1st and 2nd floors. Where applicable, replacing carpets on the 1st and 2nd floors. The budget for is included elsewhere in the Buzz and I am happy to report that, notwithstanding the above-mentioned refurbishments, the levy increase for is only 5.1%, well in line with current inflation. As reported last year, the resort affiliated to the Interval International exchange organisation. As part of the affiliation package, owners were offered a 2 year free membership provided at least one week was deposited with Interval. I would like to remind you that this offer expires on the 31st December. A great vote of thanks to my fellow directors, together with Sean Daly and the staff at the resort and to our competent and reliable managing agent, Fred Jenkings for another successful year. In conclusion, I would like to take this opportunity to wish all our owners a safe festive season, and we look forward to seeing you all at Bantry Bay in the months ahead. I Sacker Chairman 6 7

5 MANAGING AGENT S REPORT As I write this report I find it hard to believe that a year has passed since my last report. It seems that the older one gets, the faster the years pass or maybe it s just that we are so busy that we don t take time to stop and smell the roses. As mentioned in previous reports we, as the management company, together with the resort management and the directors, are always open to suggestions from owners regarding improvements to the resort and/or ways of saving costs. During the past year systems were put in place to reduce the water usage at the resort. Slow-flow shower heads were installed, staff were trained and guests made aware of these initiatives. I am happy to report that this has resulted in a 14% saving in water consumption and believe that, with ongoing awareness programmes, this can be further improved. If any owners have other similar suggestions, we would certainly like to hear from you. the Buzz this year, but will be sent under separate cover, together with an offer document. Prospective purchasers will be required to complete the offer document in full and return it to me by no later than 31 December. This can be done either by , fax or post and all the contact details will be contained in the document. Any tenders not complying with this requirement will be ignored. In conclusion, to those who will be taking their holidays over the festive season, I wish you safe travelling and an enjoyable vacation. To all our owners, we look forward to seeing you at Bantry Bay in the near future. Fred Jenkings Ovland Management Services (Pty) Ltd... always open to suggestions from owners regarding improvements to the resort and/or ways of saving costs. At the Annual General Meeting some owners expressed dissatisfaction in the suite of DSTV channels offered at the resort. We will accordingly be sending all our owners a separate survey on their preferences, and would encourage you to make your voice heard. If you don t tell us what you want, we can t meet your needs so please respond when you receive the survey. It will only take a minute or two of your time. As mentioned in the Chairman s section of the Buzz, we still have a few owners who fail to pay their levies. As in the past, these will be offered on tender, but the process will be slightly different this year, due to tenders being received and then tenderers not responding when documents are sent to them. The list of units available is not included in 8 9

6 Last opportunity to take advantage of Interval International s complimentary enrolment offer! For almost two years now Bantry Bay has been affiliated with Interval International, a prominent worldwide provider of vacation exchange services with approximately 2,600 resorts to choose from in over 75 countries worldwide. Interval International is offering you two years Interval International membership at no cost to yourself. This is a huge saving of R1 440 off the normal Interval International two year membership fee! All Interval International ask is that you deposit at least one of your valid or Bantry Bay weeks before 31 December. Once you have deposited, you will be able to enjoy an Interval International exchange within the next two years. Please note that this special introductory offer ends on 31 December, so don t delay and enrol with Interval International today! When you take advantage of this offer and deposit your week first, you improve your opportunity for exchange confirmation, giving you more flexibility. For any future weeks, Interval has a choice of two exchange methods so you can decide whether you want to deposit first or request first. Request First gives you the security of retaining your home resort week until you receive your exchange confirmation. And Interval isn t just about exchange. Through their Getaways programme they also provide additional resort accommodation without having to give up your week. Interval members are also able to make more of their membership by upgrading to Interval Gold. This gives discounts off all Getaway bookings and access to ShortStay Exchange an online benefit giving members the freedom to trade their week for two exchanges, from as few as two nights to as many as six. There are also concierge services, travel, hotel and leisure discounts, and more! Members can also exchange their week(s) towards a cruise or safari. Alternatively, Interval members can upgrade to Interval Platinum. This gives members all of the Interval Gold benefits, with priceless, exclusive new advantages. Interval Platinum members receive further discounts off Getaways, free Guest Certificates, priority access to Platinum Escapes and much more. When you become an Interval member you can log on to their members only website, IntervalWorld.com, to make exchanges, book Getaways, renew your membership, upgrade to Interval Gold or Platinum and sign up for regular Interval communications. Visit the Community section of the website where you can connect with other Interval members to gather and reveal travel tips, share ideas and much more. Interval s Resort Directory is fully featured online, as well as now being available as an iphone, ipad, Android or BlackBerry app. In order to take advantage of this offer before 31 December, owners should contact the Bantry Bay resort reservations department to obtain a membership application form either by or post. Complete the enrolment form and return it in the self-addressed envelope provided or it to your resort for onward transmission to Interval International. By returning the form, you confirm acceptance of the terms and conditions of membership with Interval International. We will pass all received enrolment forms directly to Interval International within 14 days of receipt for the membership to be processed. Within a period of 28 days from receipt of the form by Interval International, a membership kit will be dispatched containing your membership card, the latest brochure pack which contains details of all member benefits, the Resort Directory and the most recent Interval World Magazine. Should you require any further assistance from Interval s Customer Services Department, you may contact them toll free on or by at membershipserviceslondon@intervalintl.com Don t miss out on this special offer. Enrol today and see the world in a whole new way! 10 11

7 s FOR BANTRY COURT SHAREBLOCK LTD INCOME Property Expenses Telephone , , , ,00 Electricity , , , ,00 Interest , , , ,00 Property rates , , , ,00 Levy interest , , , ,00 Refuse removal 800, ,00 875, ,00 Parking , , , ,00 Sewerage 2 800, , , ,00 Bed levy , , , ,00 Recycling 2 000, , , ,00 Administration fee -250, ,00-166, ,00 Water 2 333, , , , , , , ,00 Rent of premises 5 125, , , ,00 ADMINISTRATION Fire and evacuation 6 000, , , ,00 Audit fees 4 166, , , , , , , ,00 Autopagers 958, ,00 958, ,00 Bank charges 1 250, , , ,00 Body corporate 330, ,00 330, ,00 levies Credit card comm , , , ,00 Insurance 7 916, , , ,00 Legal fees 100, ,00 100, ,00 Office equipment 500, ,00 500, ,00 Postage 916, ,00 666, ,00 Printing 3 666, , , ,00 Stationery 1 500, , , ,00 Subscriptions 1 833, , , ,00 Television licence 750, ,00 791, , , , , ,00 REPAIRS AND MAINTENANCE Building , , , ,00 maintenance Computer 2 250, , , ,00 maintenance Elevator 1 416, , , ,00 maintenance Motor vehicle 666, ,00 666, ,00 Misc & office 750, ,00 416, ,00 equipment Pest control 733, ,00 733, ,00 Pool maintenance 416, ,00 458, ,00 Television & 6 250, , , ,00 satellite Telephone 166, ,00 166, , , , , ,

8 S FOR BANTRY COURT SHAREBLOCK LTD SALARIES Reserve funding/ Capex , , , ,00 Salaries , , , ,00 Directors , , , ,00 remuneration Provision for 5 366, , , ,00 taxation Resort claim , , , ,00 Bonus provision 7 916, , , ,00 Industrial relations 300, ,00 300, ,00 Medical aid 5 250, , , ,00 Security , , , ,00 Staff recruitment 416, ,00 416, ,00 WCA 750, ,00 883, ,00 Staff training 1 250, , , ,00 Staff awards 666, ,00 708, , , , , ,00 LEVY BREAKDOWN WEEKLY LEVY (no vat) VAT INDIVIDUAL UNIT (with vat) TOTAL WEEKLY (no vat) Neptune x , , , , Penthouse x , , , ,61 MISCELLANEOUS 3 Bed Duplex x ,07 738, , ,28 Cleaning contract , , , ,00 Guest supplies , , , ,00 Laundry , , , ,00 1 Bed Duplex (with parking) x ,05 527, , ,42 1 Bed Duplex x ,42 492, , ,68 Management fee , , , ,00 M-net/dstv 7 750, , , ,00 Parking , , , ,00 2 Bed Standard x ,07 738, , ,00 2 Bed Luxury x ,07 738, , ,00 Petrol & travelling 2 875, , , ,00 Directors travel 1 291, , , ,00 1 Bed Luxury x ,42 492, , ,68 Refreshments 3 916, , , ,00 Replacements 2 000, , , ,00 Telephone 5 833, , , ,00 Uniforms 833, ,00 916, , , , , ,00 Total , , , ,00 Luxury Studio x ,42 492, , ,68 Studio x ,42 492, , ,95 TOTAL , , , ,07 Total Weekly R ,07 x 51 = R ,

9 TIMESHARING CALENDAR Week 1 4-Jan Jan-13 Fixed Week 2 11-Jan Jan-13 Fixed Week 3 18-Jan Jan-13 Fixed Week 4 25-Jan Jan-13 Fixed Week 5 1-Feb-13 7-Feb-13 Fixed Week 6 8-Feb Feb-13 Fixed Week 7 15-Feb Feb-13 Fixed Week 8 22-Feb Feb-13 Fixed Week 9 1-Mar-13 7-Mar-13 Fixed Week 10 8-Mar Mar-13 Fixed Week Mar Mar-13 Fixed Week Mar Mar-13 Fixed Week Mar-13 4-Apr-13 Fixed Week 14 5-Apr Apr-13 Fixed Week Apr Apr-13 Fixed Week Apr Apr-13 Fixed Week Apr-13 2-May-13 Fixed Week 18 3-May-13 9-May-13 Fixed Week May May-13 Fixed Week May May-13 Fixed Week May May-13 Fixed Week May-13 6-Jun-13 Flexi Week 23 7-Jun Jun-13 Flexi Week Jun Jun-13 Flexi Week Jun Jun-13 Flexi Week Jun-13 4-Jul-13 Flexi Week 27 5-Jul Jul-13 Flexi Week Jul Jul-13 Flexi Week Jul Jul-13 Flexi Week Jul-13 1-Aug-13 Flexi Week 31 2-Aug-13 8-Aug-13 Flexi Week 32 9-Aug Aug-13 Flexi Week Aug Aug-13 Flexi Week Aug Aug-13 Flexi Week Aug-13 5-Sep-13 Flexi Week 36 6-Sep Sep-13 Flexi Week Sep Sep-13 Flexi Week Sep Sep-13 Flexi Week Sep-13 3-Oct-13 Flexi Week 40 4-Oct Oct-13 Flexi Week Oct Oct-13 Flexi Week Oct Oct-13 Flexi Week Oct Oct-13 Flexi Week 44 1-Nov-13 7-Nov-13 Fixed Week 45 8-Nov Nov-13 Fixed Week Nov Nov-13 Fixed Week Nov Nov-13 Fixed Week Nov-13 5-Dec-13 Fixed Week 49 6-Dec Dec-13 Fixed Week Dec Dec-13 Fixed Week Dec Dec-13 Fixed Week Dec-13 2-Jan-14 Fixed 16 17

10 Recently refurbished units OWNER INFORMATION UPDATE Please complete and return the form below to ensure that the information we have on file is correct and up to-date, alternatively us at Name: Apartment/s: Week/s : Postal Address: Postal Code: Home Telephone: Work Telephone: Fax Number: (Code) (Code) (Code) Cellular Phone: address: RCI Membership number: Facilitating Electronic Transactions Declaration ( communication) Name of Owner: E mail address: I hereby accept that information may be sent to the above address in the form of a data message. I understand it is my responsibility to advise the resort of any change to the above address. Signature of Owner: 18

11 Tel Fax