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| Incorporation |
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| Tortilis Africa Leisure has been incorporated
with an authorised share capital of 1 000 ordinary shares of a par value
of 1 cent each. The issued share capital is 100 ordinary shares of a par
value of 1 cent each issued to Tortilis Holdings. |
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Options |
Membership Only Option |
| Option 1 |
R 100 000 - 20
Bed-nights per annum |
| Option 2 |
R 200 000 - 42
Bed-nights per annum |
| Option 3 |
R 240 000 - 52
Bed-nights per annum |
| The memberships are subject
VAT and the prices above are exclusive of
VAT. |
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| Nature of Business and Strategy |
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| Tortilis Africa Leisure has been established as
a limited liability private company that will acquire bed-nights from
Tortilis Africa Investments and sell memberships to Members whereby the
Members will get access to these bed-nights subject to certain terms and
conditions specified herein. |
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| Essentially the Members will purchase a
membership for which they will receive a package of bed-nights for
consumption across any of the Investment and Participating lodges within
the investment portfolio of Tortilis Africa Investments. The Membership
will typically be as follows: |
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- Valid for a period of 12 years;
- The number of bed-nights is dependent on the membership
package purchased;
- Members will pay a daily consumption fee per person when staying
at any of the lodges. This consumption fee will be based on a
consumption rate that will vary from lodge to lodge depending on the
standard but will be approximately 25% of the Lodge’s current Rack
Rate;
- No annual dues or levies will be charged over and above the
consumption fee and the consumption fee is only payable on
occupation or usage;
- Membership and bed-nights are transferable;
- Membership can be wilfully terminated during the period subject
to certain terms and conditions and on a resignation ratio of one
in, one out; and
- Members get access to the bed-nights on a 'first come first serve
basis', subject to availability as per standard industry booking
procedures.
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| Benefits to Members |
- Tortilis Africa offers investors flexibility as to how, when and
where they travel;
- A choice of select and diverse nature based safari experiences
across some of Southern Africa’s premier wilderness areas from which
investors can choose to spend their leisure time;
- Each destination offers a fully catered, experiential product
and offers the highest quality nature based experience; and
- Ancillary benefits to members i.e. cross over benefits with
other destination clubs.
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