Shareholders are sovereign | Evening Newspaper

The shareholders of the Bic Golf Club are sovereign: they can decide to sell their property, join forces with new shareholders and enter into an agreement with the City of Rimouski to change the zoning.

This is what emerges in particular from the information collected by the Journal Le Soir today on the follow-up to this file launched last week, in our pages. We announced yesterday that one planned projects would be to set up a seven-storey hotel on the current site of the professional shop.

Le Soir confirmed Monday that the discussions had begun, when a meeting took place between Alexandre and Jacques Tanguay, the president of the Club Sylvain Lafrance and the treasurer, Louise Fraser. The dismissal of the last professional and general manager in November provoked various reactions, including a movement in favor of a sale of the club.

A barrier?

There are few obstacles in sight for an agreement to occur. It should only be recalled that in 2009, when there was an unsolicited offer from a businesswoman, Suzanne Monique Tremblay, the administrators at the time tightened the rules allowing the conclusion of a transaction. Today, a decision in favor of a purchase offer should be taken by the holders of 66.6% of the 3,785 shares, according to an article published in Le Soleil in July 2009. There are 325 shareholders.

Transaction always possible

A transaction is therefore always possible, according to a former administrator of the Club. “But the project would first have to be presented at the annual general meeting. Then, if the vote was favourable, a special general meeting should be held to decide definitively or establish conditions. We could require conditions in the negotiation that would provide acquired rights to members or shareholders or both who would like to continue to play golf at Bic,” he explains.

Associates

Some shareholders may decide to sell all of their shares. Others could ask to keep them within the new corporation, thus associating themselves with the new private investors who would buy the Club to develop it. Although owned by its shareholders, the Bic Golf Club is officially a non-profit organization. A type of NPO that has a special status with respect to the Companies Act, we are told.

A shareholder reminded us at the beginning of the week that the majority of shareholders no longer play golf and would no doubt be very tempted to sell their shares at a good price. The annual general meeting of shareholders scheduled for January 30 promises to be crucial.

A walk in a park

Yesterday’s news caused a lot of controversy. Nature lovers refuse to consider a massive investment in this exceptional environment, right next to Parc du Bic. The controversy has already begun. We only have to read the comments of our readers on our Facebook page to realize this.

As Alexandre Tanguay indicated in our interview: respect for the environment and social acceptability will be essential success factors.

Readers tell us that in Prince Edward Island, the course The Links at Crowbush Cove was however built in the middle of the national park of the IPE, on its North side. It’s one of the top three or four courses in Canada. Crowbush Cove is a major attraction on the island. It brings economic activity to the inhabitants of the village of Morell, while being a fine example of environmental protection.

Rimouski elected officials on the lookout

The author of these lines tried to know the opinion of the municipal councilor of Bic, Mélanie Beaulieu, on this file which promises to be thorny. Nowhere is there any mention of a municipal environmental by-law that would prevent the project from proceeding from the outset. It is private land whose owners should, like others, request a change of zoning if there is a change of use.

“It is a very embryonic file. Discussions take place between the Tanguay family and the Bic Golf Club. The municipal council and I will remain on the lookout for this file to find out what happens next, ”she says.