 |
   
|
NEWS
RELEASES
PDF
 |
CRTV Board addresses speculation of validity of sale (Campbell River, BC) September 22, 2008 – The CRTV Board of Directors would like to address a front-page article written by Dan MacLennan and run in the September 19, 2008 Courier Islander. Prior to the August 23, 2008 Special Meeting, the CRTV Board of Directors sought expert legal advice on the propriety of the three resolutions that were approved at that meeting. In addition, the Board received legal advice prior to acting on the resolutions. That legal advice fully supported the actions taken by the Board at, and following, the Special Meeting and the Board stands by those actions. There is no denying that the vast majority of voting members clearly support the sale of CRTV. The Board's position continues to be that the clear direction of the membership is being followed and that the transition of ownership will proceed. On behalf of the Board of Directors, CRTV Board appoints new Board Member – Sterling Campbell CRTV Board appoints new Board Member – Sterling Campbell Sterling was born and raised in Toronto. After high school, he moved to California to work in broadcasting and attend the University of California at Irvine. He transferred to Wayne State University to complete a degree in Mass Communications. After graduation, he returned to Canada to teach television arts at the Sudbury Board of Education and Cambrian College in Sudbury while completing a Masters degree in Broadcast Management at Central Michigan University. He was elected as Alderman in the city of Sudbury, and subsequently the Member of the Ontario Legislature from Sudbury. After leaving that position, he returned to the Board as an Adult Education specialist, co-ordinating paid cooperative education. After retiring in 2002, Sterling and his wife Judy moved to Campbell River. At least, he calls his activity in Campbell River retirement. Since moving here, he has Chaired the Campbell River Hospital Foundation Board, and is currently Chair of the Active Retiree Project, Treasurer of the Campbell River Retired Teachers Association, Treasurer of the North Island Survival Healing Society (providing council service for adults suffering from sexual abuse as children), Board member of the Tidemark Theatre Society, and a member of the noon Rotary Club, among other projects. Sterling and Judy have one son, Tyler, who is the Executive Director of a non-profit children’s foundation and trustee of the Rainbow Board of Education. The Board is very excited that Sterling has accepted the request to fill in a Board vacancy and trust that his skills will be of great value in transitioning CRTV from a non-profit society to the operational takeover of Shaw. On behalf of the Board of Directors, Members' Q&A's Following Acceptance of Shaw's offer The following questions and answers were last updated on September 10, 2008. If you require further information, please email board@crtv.net. We will respond to your inquiry and post the responses in this ongoing Q&A. Q&A's posted September 10, 2008
CRTV Members Have Spoken (Campbell River, BC) August 25, 2008, 8:30 am – At this point in time, the process of handing CRTV over to Shaw becomes a housekeeping issue. If there are no delays, Shaw should take over operations before the end of 2008, and the members should receive their distribution of proceeds by late spring of 2009. The Board of Directors would like to thank all members for their feedback during this process. As in any democratic process, the will of the people is the deciding factor and the CRTV members have spoken. On behalf of the Board of Directors, CRTV Board Sets Agenda for August 23 Meeting (Campbell River, BC) August 11, 2008, 12 pm – On August 8, 2008, the Committee to Save CRTV placed ads in both local papers which it titled as a "“Legal Notice". Members should be aware that this is not a legal notice under CRTV bylaws as it is not condoned by the Society (as represented by the governing body, the Board of Directors of CRTV). The ad in the paper and any mail drop organized by the committee is an action initiated by a small group of people acting on their own accord. The CRTV bylaws are available at www.crtv.net and at the CRTV office at 500 Robron Road. Articles 21, 23, 33 and 109 deal with specifics pertaining to special resolutions, provision of notice, and how a meeting agenda is struck.
The CRTV Board of Directors stresses that voting by using your Instrument of Proxy or attending the August 23 meeting is the key to being represented at this important meeting. Remember, by mailing your Instrument of Proxy to Valiant Trust Company by 4:00 pm of August 21, 2008, your vote will be counted on all matters that may come up at the meeting whether you able to attend the meeting or not. If you prefer to attend in person, mark your calendar for this important meeting - August 23, 2008, 4:00 pm at the Sportsplex on South Alder. Members who have further questions are encouraged to email board@crtv.net or visit www.crtv.net for ongoing updates to questions, a full archive of CRTV press releases and documentation, and a copy of the Proxy Package.
More Shaw Offer Questions and Answers The Proxy Package sent to all members includes a great deal of information which explains how the Board has come to the point of recommending acceptance of Shaw’s Offer to Purchase CRTV. Members are encouraged to read through their Proxy Package and the letters and Questions and Answers contained there. If you require further information, please email board@crtv.net. We will respond to your inquiry and post the responses in this ongoing Q&A.
Watch your mailbox for a new voting package from CRTV (Campbell River, BC) August 6, 2008, 12 pm As previously announced, a new Special Meeting will be held at 4 pm on Saturday, August 23, 2008 at the Sportsplex, 1800 South Alder Street, Campbell River, B.C. Registration will open at 2:00 p.m. for CRTV members or their proxyholders. Members are reminded to watch their mailboxes for a new voting package from Valiant Trust Company which is clearly marked as being addressed to the "CRTV MEMBER". The key to the decision to hold a new Special Meeting is the evident desire of a substantial portion of the membership to proceed now with the vote on the proposed sale to Shaw and not to defer the matter to the next Annual General Meeting. The Board has made the decision to restart the whole process to allow the results to be crystal-clear, not clouded with technicalities. This means that the votes collected for the July 2, 2008 Special Meeting will not be factored in to the August 23 new Special Meeting. The postal delivery delay issues have been addressed and we have been assured of a timely delivery. The Board has been advised that members should receive their mailed Proxy Package between August 6th and August 8th. If the package has not been received by Monday, August 11th, please contact Valiant Trust Company, toll-free at 1-877-699-4880. Completed Instruments of Proxy must be received by Valiant Trust Company no later than 4:00 pm on Thursday, August 21, 2008. This will allow them to be tabulated and included in the scrutineer's report at the August 23, 2008 Special Meeting. All proxies will be voted on all items of business that come before the meeting, thus ensuring that all members are represented whether they are able to attend or not. If members are not certain that they can attend the meeting, they should send in the Instrument of Proxy in the postage-paid, addressed envelope included in the package. Proxies that are received past the 4:00 pm, August 21 deadline will not be tablulated. Full registration will occur at the meeting supported by photo ID. Only Members as of July 15, 2008 or Proxies registered with Valiant Trust Company by August 21, 2008 will be admitted. Leading up to the meeting, the Board would like to remind members that there is a great deal of information available to them, should they desire to know more about the challenges and opportunities facing CRTV and the factors that have led the Board to make the recommendation to accept the Shaw offer. Members are first encouraged to read through their Proxy Package to get a better understanding of the Board's position. A great deal of information is also available on the CRTV website at www.crtv.net. Posted documents include the full Proxy Package, Strategic Analysis, and Press Releases which can all be accessed via the "News" section. In addition to this, there is a Question and Answer section, in which the Board will respond to questions sent in by email and to the press. If you have a question that has not yet been addressed, please email board@crtv.net and visit the Question and Answer section in the "News" section of the CRTV website for responses and additional Press Releases. The Board of Directors has participated in a round-table Cable Talk that will be run frequently on Cable 10 starting on August 5 at 9:30 pm and replayed on August 6, 2008 at 11:30 am, 4:30 pm and 6:30 pm, August 7 at 8:30 am, 1:30 pm, and 8:30 pm and on August 8 at 10:30 am and 3:30 pm. To quote the Strategic Analysis: "The fact that change is the only constant is a worn cliché…What is not as obvious is that changes are occurring at a progressively faster rate. It took the telecommunications industry a decade to implement fibre-optic technologies but less than five years to implement IP-based technologies. It took competitors until 1997, five years after long-distance competition was permitted to achieve almost 30% market share; in comparison, Shaw obtained 25% of the local telephone market in Fort McMurray within seven months of launching the service." The Board of Directors recognizes that funding the rapid changes in technology is difficult for an organization like CRTV. The risk simply outweighs the potential rewards. Is this a "sky is falling" response, as indicated by the 'Save CRTV Committee'? According to the 67-plus years of combined Board experience, 34 years of CEO experience, Governance Surveys, legal opinions, accounting opinions, bank opinions, professional association opinions, strategic analyses, and input from business analysts, there is a unanimous consensus that it is the right time for CRTV, to hand over the reigns gracefully or face an almost certain demise. The 'Save CRTV Committee' suggests that there are alternatives available to CRTV but does not offer any industry or professional support to their position. Shaw Cablesystems Limited has agreed to extend the terms and conditions of the Purchase Agreement to August 31, 2008. Negotiations between Shaw and the CRTV Board have resulted in the Board accepting an offer from Shaw to sell the CRTV cable system for $46 million, Subject To approval of its Members. The offer that is currently before us expires on August 31, 2008 - long before the next Annual General Meeting. The Purchase Agreement has been extended once and it is not likely to be extended again. Over the past months the Board has considered the Shaw offer and the future of CRTV. It has investigated the options open to CRTV, and has received extensive input from cable industry experts. In light of the information it has received, the Board unanimously believes the sale is appropriate at this time, for the offered price. The CRTV Board of Directors encourages as many members as possible to participate in this vote which will determine the future of our organization. On behalf of the Board of Directors,
New Special Meeting of CRTV Members set for August 23, 2008 (Campbell River, BC) July 30, 2008, 7 am The Board of Directors of CRTV has determined that it is in the best interest of the Campbell River TV Association ("CRTV") and its members to call a new Special Meeting. The main reason for this decision is the evident desire of a substantial portion of the membership to proceed now with the vote on the proposed sale to Shaw, not defer the matter to the next Annual General Meeting. The Special Meeting will be held at 4 pm on Saturday, August 23, 2008 at the Sportsplex, 1800 South Alder Street, Campbell River, B.C. Registration will open at 2:00 pm for CRTV members or their proxyholders. The Instruments of Proxy filed for the previous Special Meeting of July 2, 2008 will not be used in the August 23, 2008 meeting, which is a new Special Meeting. A new Instrument of Proxy will be included in a package that is being sent on August 5th and should be received between August 7 and August 9, 2008. Members are asked to read their Proxy package carefully. If you want to vote and you are unable or unwilling to attend the meeting, complete the Instrument of Proxy and mail it in the postage-paid, addressed envelope included in the package. For members wishing to review the information prior to postal delivery, a copy of the Proxy package has been put on CRTV website at www.crtv.net under the "News" section. Shaw Cablesystems Limited has agreed to extend the terms and conditions of the Purchase Agreement to August 31, 2008. Negotiations between Shaw and the CRTV Board have resulted in the Board accepting an offer from Shaw to sell the CRTV cable system for $46 million, Subject To approval of its Members. Members should understand that your Board has spent many hours considering the Shaw offer and the future of CRTV. The Board unanimously believes the sale is appropriate at this time, for the offered price. They encourage as many members as possible to participate in this vote which will determine the future of our organization. On behalf of the Board of Directors,
CRTV Board responds to Geoff Goodship (Campbell River, BC) July 23, 2008 Mr. Geoff Goodship Dear Sir: 1) You mentioned in your letter that "CRTV directors also need reminding their role is advisory". The Board does not agree with you on this point at all; in fact, the key responsibility of any Board is that it must show leadership for the organization it represents. In CRTV's case the Board is recommending a course of action for CRTV in the proposed sale to Shaw Communications Ltd. Due to the Boards training and experience they are the most prepared members of this community to make the decision to sell to Shaw. Although the Board of Directors is a volunteer Board, they have invested a great deal of their time in industry study and are very knowledgeable in matters pertaining to the cable industry. In addition to their own opinions, they are supported by reports from independent consultants, CEO and business analysts. 2) You stated that "One fact that's being spun very badly by directors is the overwiring issue. Shaw has a pattern of applying for permission to overwire but they have never done so." This is an interesting comment, when in fact, whenever Shaw has applied for an overwire they have ended up buying the cable system in advance of doing the overwire. You obviously have the wrong technical information on overwires. If a system like Novus in downtown Vancouver can overwire Shaw then why can't Shaw technically overwire CRTV? Besides, Shaw already has contractual permission to access Telus strand and BC Hydro poles. In the Comox Valley, Shaw is currently wrapped on Telus strand. It is also important to note that Shaw is not obligated to serve all of Campbell River. They would concentrate on our hotels, motels, apartment buildings, and condominium towers. 3) To continue harping on the issue of how much our managers are making, specifically our CEO, is getting a little ridiculous. CRTV has received a legal opinion on this matter and has been advised that severance package details should not be disclosed. In this day and age of privacy protection it is well within an individual's rights to not have this information disclosed. 4) In the beginning or your letter, you state that "the possible sale is fundamentally a matter between the membership and Shaw." We totally agree with you on this statement and by mailing out the Instruments of Proxy have allowed each and every member a voice in this decision. Yet you later say "Democracy works for those who show up". The opinion that the Board of CRTV has in regard to whether or not democracy was upheld is obviously quite different than your own. We live in a democratic society, and all those members who voted by proxy have a right to have their votes counted. To stand back and allow a small segment of society to overrule democratic process on a technicality is not acceptable. The entire membership has a vote in this matter and it is the obligation of the Board to listen to all members and then act accordingly. On behalf of the Board;
CRTV Board responds to Larry Widen (Campbell River, BC) July 23, 2008 Dear Mr. Widen, First we would like to commend you on your past service to CRTV and the zeal with which you are rallying to preserve the organization. We understand how you feel and hope that you, in turn, realize that the Board had to make some very difficult decisions to arrive at this point. In your letter to the North Island Courier published on July 18, 2008, you brought up a number of issues we would like to address. Issue 1: Management severance package It has been insinuated that a severance package has been the ulterior motive for the CEO to push this deal through. That is simply untrue. The CEO was actively planning and executing an aggressive infrastructure renewal plan. It was the Board, not the CEO, who agreed to consider the Shaw offer to purchase. As your Board of Directors, we have a moral and legal responsibility to all CRTV members to consider all reasonable options that become available to the Association. Furthermore, given Shaw's successful CRTC approval to overwire Campbell River, we felt compelled to be address this offer. Virtually all employment contracts, management or otherwise, include severance terms. The terms of severance in the CEO's contract were developed and approved by the Board of Directors as being fair and on par with comparable positions within the industry. It should be noted that Mr. Forsyth has served CRTV tirelessly since 1994, has 34 years of experience in the industry and is a proven advocate of independent cable systems in Canada. If it were up to him and not so much was at stake for the community of Campbell River, he would joust with Shaw as he has done so many times in the past. With respect to public disclosure of the CEO's contract conditions, we have received a legal opinion on this matter and have been advised that severance package details may be disclosed only if the individual consents. It is well within an individual's rights to keep such information private. Issue 2: The Union contract between CRTV and the IBEW You speculate that the Union contract between CRTV and the IBEW will end. Two points strongly suggest that this is a false threat. First, Shaw has agreed in writing to assume the Collective agreement with ALL Union Employees. Furthermore, Shaw presently has a number of Union contracts with the IBEW in British Columbia, the same union that represents CRTV employees, representing some 400 other employees. In the future, as you are fully aware, the responsibility to negotiate new contracts is the Union's. Second, as I'm sure you're also fully aware, it is extremely difficult to remove a union from a workplace unless the employees themselves agree to do so. That is a highly unlikely outcome. Issue 3: Shaw's threat to overwire You speculate Shaw is bluffing with its threat to overwire. However, in response to the July 2nd meeting, the President of Shaw stated that, if this deal collapses or is turned down, Shaw will overwire. That being said, Shaw has CRTC approval to extend their services to Campbell River but they are not obligated to service all of Campbell River. From a technical and strategic perspective, it can be done selectively. They would most likely first focus on our downtown core, going after high-density neighbourhoods and multiple dwelling units like apartment blocks, condos and hotel/motel businesses, interconnecting them with fibre. CRTV would progressively lose market share and would be forced either to increase rates to subsidize the rising cost of providing services to a shrinking subscriber base, or watch the quality of its programs and services begin to suffer. Would it cost less than $3,000 per subscriber to overwire? If Shaw skims off the high-density areas, it definitely would. In the end, the top-value offer we now have on the table will disappear. So why not just overwire? The answer is simple. First, from a business perspective, it would be easier to buy the whole system intact and have the immediate cash flow rather than build from scratch. Second, Shaw knows CRTV is a very well-built cable system. The best proof of that is the best offer to purchase the industry has seen so far. As I said earlier, times have changed since you sat at the board table. We Board members have exercised our due diligence in keeping up to date with incredibly rapid changes in this industry; learning about our members and how they view CRTV; and gaining a much better understanding of what challenges we now face and will face in the next few years, let alone the next decade. The Board of Directors is convinced that we face two mutually exclusive choices. We can choose to preserve the quality cable broadband services we enjoy right now by accepting the sale offer from Shaw or we can choose to "preserve" CRTV and watch those cable broadband services shrink and erode. This board is not prepared to put CRTV in the same position as the Elk Falls Mill and the Co-Op, waiting until the situation is dire before making an even tougher decision. There is a top offer on the table right now. Extreme competition is imminent. We've done the math and have decided that it is best to deal with this using our heads as well as our hearts. Issue 4: Taxes on the sale Your assertion that sale proceeds will be taxed twice is erroneous. Yes, there will be taxes, and three excellent professional opinions have described that tax liability. First, we have it on the very best authority that the society itself will not pay taxes on sale proceeds. All three professional opinions state unequivocally that CRTV is a not-for-profit organization and thus is exempt from paying income tax under paragraph 149(1)(1) of the Income Tax Act. The Board has taken the necessary steps to obtain an advance tax ruling from the Canada Revenue Agency (CRA) to confirm this point officially. As this is a very complex case, it will take the CRA many hours to read the submission, research the tax law, write the decision, have the decision reviewed by various superiors, make any necessary amendments or adjustments and finally issue the opinion. Since the decision is binding on the CRA and can set precedents for future Rulings and Tax Court decisions, they naturally take their time. CRTV has proceeded with this process and is awaiting a firm ruling from the CRA. Second, concerning individual members' tax situations, the professional opinions we received state that each member will pay capital gains tax on any money, other than the debenture refund, received from the sale of the CRTV assets. Obviously, the tax amount will vary from member to member depending on other taxable income received by each member during the relevant taxation year. CRTV suggests that you consult with your accountant if you want to receive further details on your personal potential tax liability. As for the money leaving Campbell River, that choice, too, resides with each member. However, imagine the local economic benefit of each subscriber having over $3100 to spend within the community or pay down personal debt. Of course, there will be individual tax consequences but we are sure that the financial planning community will offer a host of strategies to minimize taxes paid. There are also many community organizations that would gratefully accept donations, further mitigating tax liability and enhancing the legacy of CRTV. The Board, management and staff of CRTV have worked hard for nearly a year so that all members can make the decision that is right for each of them. Beginning with Shaw's first foray into Campbell River last year and continuing through today, we have made information available on the CRTV web site, in print from the office and through the local media. The time has come for each member to consider the offer Shaw has made, to ponder the options and impacts of each choice, and then to vote accordingly. On behalf of the Board of Directors of CRTV,
CRTV meeting date to be announced (Campbell River, BC) July 10, 2008, 8 am The CRTV Board of Directors met on July 9, 2008. It was determined that there will not be a meeting on July 29, 2008 as previously press released. There will be another Special Meeting at a date which has yet to be determined. The Board of Directors would like to continue an open dialog with the membership. CRTV has extensive information and updates at www.crtv.net in the News section. Members are encouraged to visit the website and if there are questions that have not been addressed, please submit them to jim.forsyth@crtv.net. The Board will continue to respond and post answers for all to reference.
CRTV BALLOTS NOT DESTROYED (Campbell River, BC) July 7, 2008 The July 2, 2008 Special Meeting ended with less than 50 members in attendance who pushed through a motion that the ballots "collected in consideration of these resolutions be sealed and destroyed". After careful deliberation, the Board has decided to reconvene the meeting to be fair to all of the members who cast their votes. The meeting will reconvene at 7:30 pm on Tuesday, July 29, 2008 at the Rod Brind'Amour Arena in Strathcona Gardens. The formal Notice of Meeting will be posted in the local papers and on the website, www.crtv.net on Friday, July 11. The ballots have not been destroyed and are being held by Valiant Trust. An item of concern that was raised by a few members at the meeting was that there was not enough information available. CRTV has extensive information on the website at www.crtv.net and will continue to respond to questions. If you feel that there are questions that have not been addressed, please submit them to jim.forsyth@crtv.net and answers will be posted for all to reference.
CRTV SPECIAL MEETING TO RECONVENE (Campbell River, BC) July 3, 2008 The CRTV Board is very concerned with the motion passed by less than 50 members at the July 2, 2008 meeting, that the ballots "collected in consideration of these resolutions be sealed and destroyed". This will disenfranchise those members who voted by mail or in person prior to the motion from the floor. As the meeting was adjourned, the Board intends to reconvene the membership as soon as possible.
CRTV Voting Deadline Extension (Campbell River, BC) June 26, 2008 As a result of the mail delay of the CRTV Members Proxy Package, the Board of Directors of CRTV have decided to extend the Proxy Vote deadline to July 3, 2008. Members will now have three voting options:
This will enable members to vote any time up to July 3, 2008 by mail, at Strathcona Gardens from 5:30 to 7:30 before the meeting, during the meeting itself, or after watching the meeting on Cable 10. The key is that for the vote to be accepted, mailed Proxies must be postmarked no later than July 3, 2008. Valiant Trust has been hired to scrutinize the votes and provide CRTV Members with the results on July 9, 2008. The results will be shown on Cable 10 and on the website on July 9, 2008. The Board also appreciates that many Members may have questions about the whole process, including the Proxy itself. To aid in the understanding of the Voting Package, the Board has posted an expanded version of the Questions and Answers that were included in the Package. These are being updated on an ongoing basis. To locate the most current Questions and Answers, visit the News section of www.crtv.net and refer to the "Q&A Package – Expanded document" or visit CRTV at 500 Robron for a current copy. The Board believes that the change in voting deadlines will allow as many members as possible to participate in this important process. The Board urges every Member to take advantage of one of the voting alternatives.
CRTV Board unanimously in support of sale (Campbell River, BC) June 23, 2008 The CRTV Board of Directors has gone public with their unanimous support of the Shaw offer to purchase CRTV. A voting package has been sent to all CRTV members including a voting proxy that can be returned by mail or at the July 2 Special Meeting at the Rod Brind A'Mour arena. The Board of Directors says this has been a difficult decision but feel that this offer is in the best interest of all CRTV members. Cable 10 will air an interview with CRTV President, John Kerr on Monday, June 23rd at 8:00 pm. Other airing times will be available on The Wheel (Channel 30). The full proxy package except for the voting proxy form is also available at www.crtv.net.
CRTV simplifies voting by Special Resolutions Proxy (Campbell River, BC) June 13, 2008 In previous communications from CRTV, it was stated ""For members who are unable to attend the Special Meeting on July 2, 2008, please consider obtaining a proxy from CRTV." This is no longer required and the CRTV office will not be issuing any further proxies. The reason for this change is that the Special Resolutions Proxy included in the mailed voting package allows you to vote on the proposed Special Resolutions or designate a representative to attend the meeting on your behalf. Your designate must be of legal age, have the completed (signed and dated) proxy with them and will have to present photo ID to be allowed into the meeting. The Board of Directors of CRTV asks that you please watch for your package and respond to allow your vote to be counted. If you choose to attend the Special Meeting on July 2, 2008, you should bring your voting proxy with you. By presenting your Special Resolutions Proxy and photo ID, you will help to keep registration time as short as possible. If you are unsure that you will be able to attend or simply wish to vote prior to the meeting, you are strongly encouraged to return your Special Resolutions Proxy as quickly as possible. CRTV will be covering the meeting live on Cable 10. Please note that other details of the Special Resolutions package are not yet released and that staff members will have no other information that can be given until released by the Board. Updates inclusive of CRTV's recent Board Minutes, Constitution & Bylaws, Board Governance Policies and CRTV Press Releases can be found on CRTV's Web site at www.crtv.net.
(Campbell River, BC) June 2, 2008 – The Board of Directors stresses that the July 2, 2008 Special Meeting will be a key point in deciding the future of CRTV. The members should be aware that the Board continues to be in active discussions with Shaw, and until a signed offer has been received from Shaw, no information will be released. In the interim, CRTV has obtained a high level Tax Opinion on the consequences of the sale of CRTV. The opinion states that "In our view, CRTV should be exempt from a tax as an NPO (Non-Profit Organization) under paragraph 149(1)(1) of the ITA (Income Tax Act). However, certainty can only be obtained with a ruling from the CRA (Canadian Revenue Agency)" and that "Such distribution to the members will be a capital gain in their hands to the extent that the amount of the receipt exceeds the respective adjusted cost bases of their memberships. One half of such gain will be included in income as a taxable capital gain.". This opinion is in concert with two previous local opinions received prior to October, 2007. CRTV is proceeding on obtaining a firm ruling from the CRA. For members who are unable to attend the Special Meeting on July 2, 2008, please consider obtaining a proxy from CRTV during regular business hours in advance of the meeting. This would allow a designated direct family member who lives in your residence to attend the meeting on July 2, 2008. (Direct family members are identified as husband, wife and children over the age of 19 years.) Past members should also be aware that as per CRTV Bylaw #13 those memberships that have been inactive for twelve (12) months or longer have been terminated. Debentures will be returned to members in good standing, and to other members after outstanding assessments and debts have been paid. If necessary, past members can contact CRTV for further clarification. Please note that other details of the Special Meeting are still being worked on and that staff members will have no other information that can be given until released by the Board. Updates inclusive of CRTV's recent Board Minutes, Constitution & Bylaws, Board Governance Policies and CRTV Press Releases can be found on CRTV's Web site at www.crtv.net. The President of CRTV, J. Kerr, states that "The Board has a moral and legal responsibility to the membership of CRTV to consider all reasonable options that become available to the Association. When the Board has a full understanding of Shaw's expression of interest in acquiring CRTV, the information will be provided to the members who will then be able to make the decisions that will determine CRTV's future." The Meeting Notice will be in the papers and on the website on June 13, 2008.
26 May 2008 (Campbell River, BC) May 26, 2008 - The Board of Directors stresses that the July 2, 2008 Special Meeting will be a key point in deciding the future of CRTV. This is when the Board will discuss details of the Shaw offer to purchase CRTV. This is a critical meeting and members who wish to have input should appear in person or authorize a proxy for an immediate family member who shall be entitled to vote on behalf of the member. If a proxy is required, the member will need to come into the CRTV office at 500 Robron prior to the meeting to obtain their proxy and have it approved.On July 2, 2008, the doors will be open at 5:30 pm with the meeting starting at 8:00 sharp. Member registration and member picture identification will be required. Light refreshments will be available but it is highly recommended that attendees have dinner before coming. In order to accommodate the greatest possible number of attendees, Arena #1 at Strathcona Gardens (225 S. Dogwood) has been booked for the event. This is the largest venue in town and measures are being taken to accommodate overflow if required. Even though the venue is large, members are reminded that this is a "members only" meeting and only members in good standing will be allowed into the meeting. Families who are uncertain whose name the membership is in should contact the CRTV office prior to the meeting. While CRTV respects the importance of other household members, only the registered member will be allowed in. We simply have to reserve space for voting parties. The proceeds of the meeting will be filmed and aired on Community Cable 10 after the meeting wraps up. Please note that other details of the meeting are still being worked on and that staff members will have no other information that can be given until released by the Board. Updates inclusive of CRTV's recent Board Minutes, Constitution & Bylaws, Board Governance Policies and CRTV Press Releases Minutes can be found on CRTV's Web site at www.crtv.net. The President of CRTV, J. Kerr, states that "The Board has a moral and legal responsibility to the membership of CRTV to consider all reasonable options that become available to the Association. When the Board has a full understanding of Shaw's expression of interest in acquiring CRTV, the information will be provided to the members who will then be able to make the decisions that will determine CRTV's future." The Meeting Notice will be in the papers and on the website on June 13, 2008.
16 May 2008 (Campbell River, BC) May 16, 2008 - At a special meeting of the Board on May 16, 2008 the Board of Directors of CRTV met to review the status of discussions with Shaw. Members should be fully aware that discussions are still very preliminary. The Board is considering the proposal and will make a more formal announcement in the near future. Minutes of recent CRTV Board meetings can be found on CRTV's Web site at www.crtv.net inclusive of CRTV's Constitution & Bylaws, Board Governance Policies and CRTV Press Releases. A Special Meeting of CRTV's members is being arranged for July 2, 2008 at 8:00 pm in the Strathcona Gardens Recreation Complex, Arena, 225 S. Dogwood, Campbell River, BC. As per CRTV Bylaw #14 a detailed meeting notice will be placed in the local papers on June 13, 2008. Members are reminded that only members in good standing will be allowed into the meeting, doors will be open at 5:30 pm for member registration and that member picture identification will be required. The President of CRTV, J. Kerr, stated that "The Board has a moral and legal responsibility to the me |
