As a UOWNER you have the right to vote on certain key decisions to do with your investments, such as agreeing to the sale of a property. Any vote will require a 75% majority to be passed (by number of shares held).
Votes will be conducted via an email poll. The voting period will be a minimum of two weeks and UOWNERs will get advanced notice and remainders during the voting period to ensure maximum involvement. Any UOWNER who doesn’t vote within the period will be assumed to vote in favour of the motion. We will send out an email to UOWNERs with the result of the poll and enact the result as soon as possible.
We commit to having a vote on whether or not to sell each property on the platform once every two years. The initial purchase costs for property are added onto the investment value and amortised over a five year period. The share prices will be affected by this for five years and this may result in a different share price if there is a sale within the five year period. You can read more about how we value our investments here.
There may be other instances where shareholder votes are needed, for example if the sales price for a development project is significantly lower than projected.
The resale market will be paused on a property if a vote is being held.