Gurney's Timeshare Owners Inc.

... a not for profit corporation to educate, inform and share information about our resort Gurney's Inn Resort and Spa, Inc

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This site was started by Gurney's Timeshare Owners, Inc. a not for profit corporation to educate, inform and share information about our resort Gurney's Inn Resort and Spa, Inc. It's purpose is to begin the process of organizing the timeshare owners so that we can enforce our rights to full disclosure and obtain an independent board of directors.

Gurney's has one of the most beautiful beaches in the world. Sitting on the deck, listening to the surf, walking on the beach or fishing is restful and relaxing. It's our little bit of paradise at the tip of New York. The indoor pool is a great place to workout and the spa has every amenity imaginable. There's no place like it. It's Gurney's Inn and we love it and hope to enjoy it for many more years to come.

Gurney's Timeshare Owners

UPDATE ON VOTE

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April 8, 2013
This is a forward of a notice from Mr. Filopoulos of 290 Old Montauk Associates, LLC. There was over 85% Class A shareholder approval.

Dear Class A Shareholder,
The Election Documents have been tabulated and are being certified by the independent ballot counters. The Notice of Special Shareholders’ Meeting is being processed and will be mailed out to the Class A Shareholders, within the next day or so. We thank you all for your support and patience as we proceed towards closing our transaction.
Regards,
George Filopoulos
290 Old Montauk Associates, LLC
 

ELECTION UPDATE

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WE JUST RECEIVED THIS AND ARE FORWARDING IT TO ALL CLASS A SHAREHOLDERS.
Subject: Election Update: Class A Shareholders of Gurney's Inn Resort & Spa Ltd.
Dear Class A Shareholders of Gurney’s Inn Resort & Spa Ltd.
We are very pleased to inform you that, subject to final verification of the actual number, as of 5:00 PM (Eastern Daylight Savings Time) Election Documents from Shareholders owning over 80% of the Class A Shares have been received and preliminarily tallied by BMC Group, an independent proxy solicitation and ballot counting and confirmation firm, retained by 290 Old Montauk Associates, LLC and George Filopoulos.
This means that the Class A shareholders have overwhelming approved the Memorandum of Understanding which allows us to proceed towards closing.
Additional votes are continuing to arrive. For those Class A Shareholders who have not yet submitted their Election Documents, please be reminded that the deadline for submission of your Election Documents is today, Thursday April 4th.
Review materials and submit your completed Election Documents at https://proxy.bmcgroup.com.
Please note if you choose to mail in your documents they must be post marked no later than April 4th.
If by regular mail If by messenger or overnight delivery
BMC Group, Inc BMC Group, Inc
Attn: Gurney’s Timeshare Proxy Attn: Gurney’s Timeshare Proxy
PO Box 3020 18675 Lake Drive East
Chanhassen, MN 55317-3020 Chanhassen, MN 55317
Thank you for an incredible response and voter turnout. We look forward to concluding our transaction.
 

VIDEO LINK of MARCH 23rd MEETING

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For those who have been asking about the meeting and who have been receiving misleading 
information about the answers, please watch and judge for yourself.  Don't let anyone else do
 that for you.  Click on the blue site.   The videos are up on the website: http://67.199.39.78/290omha/ 
   
The first section is a presentation by George and the second longer section is the question and 
answer section.  I made a short presentation   about 1:49 on the second section, to clarify that 
neither Linda, my husband, nor myself are receiving anything other than our purchase prices like
23rdthe rest of you.   Any objections about the quality  of the video or sound address them to Gurney's 
whose employee did it.
 

CONGRATULATIONS! WE HAVE ATTAINED THE 50% CLASS A VOTE REQUIRED FOR THE DEAL TO PROCEED

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IT IS WITH GREAT PLEASURE THAT WE WISH TO ANNOUNCE THAT WE ARE WELL OVER THE VOTE REQUIRED TO APPROVE THE DEAL WITH 290 OLD MONTAUK ASSOCIATES, LLC. THIS WILL PROBABLY BE A RECORD FOR GURNEY'S CLASS A VOTES, AND VOTES CONTINUE TO POUR IN.
PLEASE CONTINUE TO SEND IN YOUR VOTES AS WE WOULD LIKE EVERYONE TO SHARE IN THE MINIMUM PRICE GUARANTEE, LOWERED MAINTENANCE, NO ASSESSMENTS GUARANTEE, THE KICKER IF YOU CHOOSE OPTION 3 AND THE OTHER BENEFITS THIS DEAL WILL AFFORD US. VOTES MUST BE POSTMARKED NO LATER THAN MIDNIGHT THIS THURSDAY, APRIL 4TH!
WE ARE LOOKING FORWARD TO 5 YEARS OF PEACE, HARMONY AND A REVITALIZED GURNEY'S INN FOR ALL OF US.
BEST REGARDS,
PAT BOFFA, PRESIDENT OF GTO
LINDA BENJAMIN, CLASS A DIRECTOR
 

OPTION #3 KICKER ANALYSIS

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March 25, 2013 
FIRST THERE IS SUPPOSED TO BE A WEB ADDRESS TO VIEW THE MEETING FROM SATURDAY. I WILL FORWARD IT WHEN I GET IT.
See attachment at end of article which I prepared and handed out on Saturday. It took me awhile to figure it out and then try to simplify it for all of us to understand. This kicker kicks in only for people who choose Option 3 and gives everyone the opportunity to share in the final sales price of Gurney's in 5 years.(assuming Gurney's then sells in the high seventy millions), some people will get it in the $50 million range, many more in the $60 million dollar range and so on. For people who are getting low per share prices, the kicker kicks in earlier and if you get a high per share price it kicks in later.
I will give you an example below:
If I have a 2 bedroom for 200 shares and the price offered is $9703 for my week, dividing the shares , 200, into the price, $9703 gives me a per share price of $48.51 a share.
According to my chart, at a little bit over $50 million I would start to get a kicker. At $60 million I would now get
$13,648 for my 200 shares at 68.24 a share. At $70 million my price would be $18,060 at $90.30 a share. At $80 million my price would be $22,468. At $90 million dollars my price would $26,876. At $100 million my price would be $31,284!
Read more...
 


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