14.1. Is the main reason for setting up a Trust, not just to secure the Ownership and future use of Lionspruit? If so, does the setting up of the Trust actually achieve this goal?
Reclaiming our assets is only a very small part of the big picture of what is required for Marloth. An overview of the Trust and its Objectives:
- Trust to be registered for Marloth Park Holiday Township and Lionspruit (together known as Marloth Park).
- Trust Beneficiaries to be property owners within the borders of Marloth Park as identified on the title deed and the Beneficiaries’ rights will remain with the title deed of the property on sale or transfer.
- Nature and intent of the Trust:
- The trust will be registered with the Master of The Court and governed in accordance with the laws of South Africa.
- The proposed name of the Trust is “The Marloth Park Conservation Trust”
- Trusts objectives:
- To accrue direct, indirect, real, or personal rights in movable and immovable property within the Boundaries of Marloth Park and specifically to re-acquire Marloth Park common assets (Lionspruit, Henk Van Rooyen Park, the Parkland, etc.) into a secure vehicle on behalf of the beneficiaries, and sustainably manage these assets for the greater good and benefit of the beneficiary’s and stakeholders into the future.
- Ensure viable and sustainable biodiversity by conservation, rehabilitation and/ or protection of the natural environment of Marloth Park. Develop sustainability & business plans, and manage Marloth Park and its ecology for the benefit, and in accordance with, the desires of the majority of Beneficiaries.
- Improve security into and within Marloth Park and, together with the Municipality, enforce the rules of Marloth Park.
- To become the custodian of the game in Marloth and sustainably manage this asset, that underpins investment in Marloth Park, for the beneficiaries into the future.
- Perform the above activities in an altruistic, philanthropic and non-profit manner.
- To perform management operations and implementation through a Public Benefit Company with qualified professional management. 100% Of the shares of the PBC will be held by the Trust for, and on behalf of, the beneficiaries.
- Maximum of 9 trustees, of which 4 will be Marloth Park Property Owners, and the rest will be expert and topic specialists invited to the Board to ensure the trust has the best capability and input available to implement the sustainability & business plans.