Sima Beach Ltd

Sima Beach Ltd.

5°50'39.41"S
38°49'23.44"E

To view Sima Beach in Google Earth
click here
this will download a
.kml file which you save on your desktop then
just double click to open.
If asked which program to open in choose Google Earth.

New Draft 2 Lease Agreement ( Click here ) July 2020

1st Draft 25th August 2014

Ammendments in red

Definitions
Class A shareholders are shareholders with a lease on one or more footprints.
Class B shareholders can hold no lease or multiple leases.
A footprint is defined as personal dwelling area not exceeding 150 s/m.
Footprint types.
Front, River and Bush.
Common land defined as all remaining area with exception of camp.
Camp is a single frontage area not exceeding 2 acres with 60 meter frontage and exempt from footprint dwelling size rules.
CBK (Central Bank of Kenya).

On the above chart Ushwin and Aussiemike hold 1 unit each for the company camp share.

Shares

Ten Class A shares equal one footprint.
All shareholders have full voting rights.
Class B shareholders can sell any shares at anytime but must offer to other Class B shareholders initially
then Class A shareholders secondly then free market finally.
Those holding only Class A shares can sell ten shares after two years but must offer back to company first. See ammendment below.
Should any Class B shareholder wish to sell any non lease shares they must be offered first to Class A shareholders.

Buyback
Company buyback is at original price plus average compounded CBK interest rate for the year of sale.
This rule shall only apply to the first sale.
Second and third sales will be offered on free market.
Directors must approve new buyer by majority vote.
The company shall be given a six month period to decide on the purchase.
If company does not accept then Class A shareholders must be offered shares at free market price.

Footprints
All private footprints regardless of type will not exceed 150 sq meters of building area.
Linear measurement only. 150 s/m ground +150 s/m first floor still =150 s/m.
The only exception to the above will be for the provision of a clubhouse/bar/restaurant for the eventual operator of a camp.
Total number of private footprints including camp share shall not exceed 54.
Camp block counts as 2 front footprints but still retains 2 river and 2 bush footprints
Definition of a footprint is within 50 meters of its designated description.
i.e. 50 meters back from the front is still a front footprint.
Same with river. Bush footprint is anything outside these areas.
Erosion
Should erosion effect any choosen plot another of same or similar standard will be allocated.

Ownership
All leases issued by Sima Beach Ltd will be in a single name.
Those wishing to be in a partnership will have private agreements between themselves for their own business relationships.

Building
Five years limit for completion of building commencing on date of sale.
One building will satisfy this requirement regardless of the number of footprints owned by the individual.
If a shareholder has invested in the clubhouse then the 5 year build rule will be waived.
If the clubhouse is sold on to a camp operator then a one year build rule will be introduce on their lease.
All construction must be in keeping with methods and designs to be announced.
e.g. Coastal indigenous materials.
No removing trees without consent from directors.
No fences. No dogs. No cats.
Building height restrictions will apply..
Solar lighting must be used.
Generator use will be limited to daylight hours only with permission.
Communal biogas will be built at a share expense basis.
Stables will be built on common land for common use at willing participants cost.
No hunting or killing or lifestyle disruption of any wildlife.
Vegetable and fruit production will be encouraged on common land.
Common land will be made available to anyone wishing to plant indigenous trees irregularly.
i.e. Not straight line plantation style.
Solar power and solar water distillation will be practiced. Should be communal.
A fly camp will be built 5/10 kilometres up the river to the west, cost only for those wishing to use.
Each plot will be allocated an additional plot of 100 square meters in a designated area at the rear of the property for any workshops offices storage etc.

Directors
Directors alone have rights and say over common land.
Any profit from directors decisions on use of common land to be reinvested in the company's common areas and infrastructure.
Directors to receive reasonable remuneration not exceeding 30% of total clear profit on common land use.
Class B shareholders are permanent directors with full voting rights.
A third director will be elected from Class A shareholders every three years.
First appointment of Class A director to be appointed by Class B shareholders for first three year term.
The first Class A director will be Torben Rune.

Shared costs
There will be an agreed annual charge to cover land rent and other fixed costs.
Current land rent approx $400 p/p/p/year.
This is per shareholder not per footprint.
Once a shareholder builds a single dwelling he/she is still a single contributor to the rent cost.
Once he/she builds a second dwelling he/she will have a second share contribution to rents and costs.
A third dwelling another share cost and so on.
If a communal structure is erected i.e. Stables, Green house, Camp office outside camp area, or workshop
then those participating in that structure will bear the burden of an additional share cost.

e.g. only for shares in expenses.

Ushwin 2 dwellings 2 shares
Mike 2 dwellings 2 shares
Torben 1 dwelling 1 share
Alastair 1 dwelling 1 share
Adrian 1 dwelling 1 share
Lianne Holley 0 dwelling 1 share
Rob 0 dwelling 1 share
Daniel 0 dwelling 1 share
Christina 0 dwelling 1 share
Steve 1 dwelling 1 share
Harm 0 dwelling 1 share
Iris 1 dwelling 1 share
Green House 1 dwelling 1 share

Land rent $3500 p/a
15 shares
Each $233 p/a

What I am trying to say is that even those who have not built are bound to share in the initial yearly costs.
When they do build they are still only responsible for a single share.
Once they embark on a second dwelling then they take on an additional share of the costs.
e.g. Once there are say 35 dwellings on the plot each dwelling will incur a cost of $100 p/a.

Aussiemike
Amended 2nd Nov 2020