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U L T I M A T E H A P P E N I N G S
Issue 192 - November 16, 2001
******************* 3518 players served ********************
OCUA - The largest ultimate league in the world!
(300 teams and 3700 members in 2001)
http://www.ocua.ca/
"If you are going through hell, keep going."
- Sir Winston Churchill (1874-1965)
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CONTENTS:
- UP Inc. Annual General Meeting & Share Buyback
- Ultimate Parks Inc. Share Buyback Procedure
- OCUA General Manager - Terms Of Reference
- Rental Accommodations
- Calendar Of Events
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UP INC. ANNUAL GENERAL MEETING & SHARE BUYBACK
The Ultimate Parks Inc. AGM has been scheduled for the
following place and time:
Thursday, Nov. 29, 2001
7:30pm - 9pm
Confederation High School Cafeteria
1654 Woodroffe Avenue
The primary agenda items will be OCUA's buy-back of 150
shares, and the election of a new board of directors. As
such, we want to make sure that all the shareholders are
aware that this is happening, and that they have some
choices to make. Unfortunately, most shareholders have not
been very diligent about keeping their addresses up to date,
so we are asking shareholders to read the following, and
contact us with their choices.
The share buy-back is the most important item, and is a
little complicated. It is important that you read the
procedure at the end of this message, and then send us the
following information:
1) current contact information (email address, home phone,
mailing address) If your info in the OCUA registration
database is current, you can just refer to that.
2) do you wish to include your shares in the 2001 random buy-
back draw?
3) if you have 5 or more shares, do you wish to exercise
your multiple buy-back option?
4) do you wish to apply for hardship buy-back? If so, please
provide details.
5) do you wish to donate some or all of your shares to OCUA?
The info should be emailed to:
upinc@ocua.ca
In addition, if you have any interest in serving on the
board of directors, you should let us know as soon as
possible.
Thank you,
UPI Board
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ULTIMATE PARKS INC. SHARE BUYBACK PROCEDURE
The following is the share-buy back procedure as approved by
the shareholders at the 1999 AGM. The procedure may seem
rather complex, but it was developed in order to meet the
following 3 objectives:
1) Provide a mechanism to help any shareholder who has/is
experiencing financial difficulties and needs the money
2) Provide a mechanism to ensure that shareholders who have
purchased multiple shares (and thus made a greater
commitment to the project) have a greater chance of
reimbursement
3) Achieve the above goals with minimal impact to the other
shareholders
We strongly believe that the procedure that is in place
achieves these goals in the fairest manner possible. The
procedure is as follows, with additional information
pertinent to this year's buyback marked with *** and
enclosed in parentheses:
1. OCUA informs Ultimate Parks Inc. as to how many shares
they intend to buy back at least 6 weeks prior to the
Ultimate Parks Inc. AGM.
(***this year, the number is 150)
2. The Ultimate Parks Inc. Board of Directors informs the
shareholders at least 3 weeks prior to the AGM in order
to allow individuals the opportunity to apply for a
"hardship" buyback. This consists of the shareholder
contacting the board, and outlining the specifics of
his/her hardship case.
(***Deadline for application for hardship buy-back is 6pm
Monday, Nov. 26. Send applications to upinc@ocua.ca )
3. Prior to the AGM, the Board of Directors determine if the
individual hardship cases merit buy-back, and can
allocate up to 10% of that year's buy-back for guaranteed
buy-back of these shares. If they decide that cases do
not warrant hardship buy-back, or if there are
applications for hardship beyond the 10% allocation, then
these cases go before the shareholders at the AGM for a
vote.
(***this year, there are 15 shares available for hardship
buy-back)
4. The remaining shares are to be bought back by random
draw, with one exception. Multiple shareholders with
sufficient holdings have the option of automatically
having a fixed percentage of their shares bought back
that year, if they remove their remaining shares from the
draw. In order to maintain equal odds for the other
shareholders, the fixed percentage is based on the size
of the buyback, hardship shares excluded, in relation to
the total number of shares outstanding. Thus, if there
are 500 shares outstanding, and 50 are being bought back,
multiple shareholders can have 10% of their shares
automatically bought back, rounded down to the nearest
share. (ie, if you only had 9 shares, you would not be
able to exercise this option).
This is best illustrated through example:
"Let's say that OCUA plans to buy back 100 of 900
outstanding shares. There would be 10 shares available for
hardship buy-back, and let's say there are applications to
have 10 shares bought back. The board reviews the
applications, and determines that all 10 shares warrant
buyback. These 10 shares are guaranteed to be bought back,
and so there are now 90 shares available for random draw.
Now, multiple shareholders have the option to have a fixed
portion of their shares bought back that year and the rest
of the shares don't go in a random draw. 900 shares have
been sold and OCUA is buying back 90 (100 total, but 10 for
hardship cases). That means 10% of the outstanding shares
are being bought back and multiple shareholders have the
option of having 10% of their shares bought back (rounded
down to the nearest share) That means that you must own 10
or more shares to be eligible. Lets say you have 15 shares,
you can have 10% of 15 (1.5 shares, rounded down to 1 share)
bought back. You choose this option and your one share is
guaranteed to be bought back. Your other 14 shares are taken
out of the pool for the random draw. We then draw randomly
from the eligible pool of shares for the rest of the shares
to be bought back. It does not affect the odds for any other
share being drawn (in fact, using the above scenario it
increases their odds)"
Note that this option is not mandatory. Shareholders with
multiple shares can opt to simply place all their shares
into the random draw. Shareholders who do wish to exercise
this option should state their intent to the board as soon
as possible.
(***This year, the fixed percentage will be approximately
20% (depending on the number of hardship buybacks), and so
anyone with 5 shares or more will be able to take advantage
of this option. If you feel that you would like to exercise
this option, please notify us as soon as possible at
upinc@ocua.ca).
5. Note that any shareholder has the option of withholding
his/her shares from the random draw, if they do not wish to
be bought back at the present time, thus increasing the odds
for others. Shareholders who do wish to exercise this option
should state their intent to the board as soon as possible.
6. In addition, we realize that certain shareholders may
wish to simply donate some or all of their shares to OCUA.
This still requires that a share transfer take place, so if
this is your intent, please state your intent to the board.
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OCUA GENERAL MANAGER - TERMS OF REFERENCE
1. General Information
The primary responsibility will be coordination of the
Ottawa Carleton Ultimate Association. The General Manager
will manage OCUA's summer, fall and winter leagues. The
General Manager will be responsible and report to the OCUA
Board of Directors (BoD).
The position will be a contract position. The contractor
will be expected to work from their home or other location;
office space will not be provided. The contractor will
require access to a telephone, computer, and the Internet.
As well, the contractor will require access to a vehicle.
The contractor will receive a contract for a period of 12
months, with a remuneration of $34,000 to $40,000 for the
period, depending on experience and qualifications. As well,
the contractor will be reimbursed for expenses of:
- Mileage on vehicle;
- Basic monthly phone charges;
- Long distance phone charges;
- Internet Access charges; and
- Other expenses as approved by the BoD.
The contractor shall be responsible for determining whether
the services provided to OCUA pursuant to this contract are
subject to GST. If so, the Contractor shall also be
responsible for determining the amount and for claiming it
from OCUA.
Potential contractors should submit 3 copies of a three (3)
page proposal outlining capability and suitability to
undertake the work as described in Section 3 - Statement of
Work. A résumé should be attached to the three-page
proposal.
Proposals should be mailed to:
Ottawa Carleton Ultimate Association (OCUA)
Box 120
410 Bank Street
Ottawa, ON, K2P 1Y8
Attn: Robin Kealey
Proposals will only accepted by the BoD only if they are
postmarked on or before November 30th, 2001. Consideration
will not be given to submissions received by fax, through
the e-mail or delivered in person.
The BoD expects to make a decision regarding choice of
contractor by the end of December, 2001.
2. Desired Skills / Experience / Education
1. Post-secondary education in sports administration;
2. Experience with sports league administration;
3. Strong organizational skills;
4. Strong communication skills;
5. Computer skills; and
6. Basic bookkeeping.
3. Statement of Work
1. Scheduling and League Coordination
- Maintain a calendar for the BoD.
- Draw up schedules, rankings, pools, list of captains, play-
off formats for all leagues (using guidelines provided by
Board).
- Assist with spring captain's meeting and registration
(including booking of venues).
- Coordinate new players (e.g. find teams).
- Organize finals (including booking of venue for parties,
beer tents, prizes, etc.).
- Ensure timely and accurate updating of scores, spirit
ratings, schedules.
- Maintain a record of defaults, complaints, etc.
- Collect player information (for phone book, statistics,
etc.).
2. Communications
- Check OCUA phone daily and update hotline; respond to
phone messages or forward within 48 hours.
- Respond to or forward e-mail questions and requests within
48 hours.
- Check OCUA mailbox weekly and respond to mail as required.
- Provide schedules, information bulletins, and other
required information for posting on website.
- Monitor website for accuracy; items of interest for BoD.
- Ensure that scores are updated on weekly basis.
- Write league update periodically for posting on website, e-
mail mailout, TOUR.
3. Finances
- Manage finances for OCUA (e.g. ensure that bills are
presented for payment to BoD on time, deposits are made,
preparation of budgetary estimates).
- Liaise with bookkeeper and provide with required
paperwork.
- Develop for cheques for signature and mail invoices as
required (e.g. field rental, insurance).
4. Tournament Coordination
- Ensure OCUA tournament directors submit budgets and
statement of accounts.
- Ensure tournaments have adequate insurance coverage.
5. Field Management
- Communicate with city to ensure OCUA has adequate
representation for field use.
- Book fields for summer and fall leagues.
- Assist the BoD in checking on Sod Farm, South Park, and
city fields on a weekly basis to ensure well maintained.
- Insure proper permits in place (list of required permits
to be provided by BoD).
6. Other
- Ensure adequate supplies of cones, discs, etc. are
maintained and available.
- Attend OCUA Board of Director meetings and other OCUA
meetings as required.
- Maintain log book of time spent on various OCUA
activities.
- Submit monthly reports at BoD meeting, outlining tasks
undertaken and recommendations for required actions.
- Submit end-of-contract report, making recommendations for
improvements in position (job description), problems
encountered, suggested improvements.
- Coordinate volunteers.
- Liaise with insurance agent to ensure adequate and timely
insurance coverage for league.
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RENTAL ACCOMMODATIONS
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House for Rent
location: Burnside Road, Wakefield
recently renovated, 2 bedrooms plus a large attic, clean and
bright, large yard
available December 1 (or any time afterwards)
800$ per month + utilities
**If interested please call Sue or Santiago at 459-2017**
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Two bedroom apartment to share. Sandy Hill, spacious,
hardwood floors, laundry,street parking, air conditioning,
backyard, $450/mo, available Dec 1st. Call 297-4318
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CALENDAR OF EVENTS:
2001/11/28 : Winter Indoor starts (Ottawa, ON)
2001/11/29 : UP INC. Annual General Meeting (Ottawa, ON)
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