ORLY AIRPARK LIMITED
2011 Annual General
Meeting
11 June 2011
AGENDA
1.Approval of 2010 AGM Minutes held on 26 June 2010.
2.Chairman’s Report
3.Financial Report and Audited Accounts for 2010 for
Orly Airpark Limited.
4. Audited Accounts for Orly Property Limited.
5. Appointment of Auditors. MOTION: “It is proposed and seconded that
Githere and Associates continue to serve as auditors for both Orly
companies in 2011”.
6. Presentation of Income and Expenditure in 2010
7. Setting of any fees, levies or service charges for 2011. MOTION:
“It is proposed by the Board of Directors that the following fees and
charges be levied from Shareholders:
“Service Charge: $ 1500 and Development Levy $ 500. Private
Landowners would pay $ 200 per acre owned”.
8. Adjournment of Meeting.
AFTER THE FORMAL BUSINESS HAS BEEN CONCLUDED, LEGAL ADVISOR GUY
ELMS WILL GIVE AN UPDATE ON THE PROGRESS OF THE PROPOSED REVISIONS
TO THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF THE COMPANY.
Chairman’s Report
ACHIEVEMENTS 2010-2011
 KCAA Aerodrome Licence and
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Manual
Airport Lounge
New Hangars
One New Cottage
Land Acquisition (8.4 ac.)
Land Acquisition (0.8 ac.)
Re-Fencing of Land
Completion of New Borehole
NEMA Studies and Approval
Electricity Connection (Capt.
Ririani)
Beefed up Security (Wells Fargo)
External Access Road (1.5 km)
from Ollooloitikosh Village
 Surveying and Pegging 12
“Private Land Plots in LR 6470
 Successful Negotiations with
District Commissioner and
Kajiado County Council
 Implementation of Management
Office at ACEA with accountant.
 Regularization of all financial
systems, Payroll, PAYE, NSSF,
NHIF, Training Levy, Budgeting,
etc.
 Construction of 300 meters of
water mains, connecting new
borehole to reticulation.
 Drafting the new proposed
Memorandum and Articles of
Association of OAL, to be
finalized at an EGM this year.
Chairman’s Report
Objectives for 2011
 Complete construction of Water
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Tower , Pump and Reticulation to
the west side (LR 3225)
To connect Orly Airpark to
electricty grid, with assistance
from Captain Ririani.
To build all-weather access road
from the west gate to the Apron.
To establish a Staff Housing
complex for Orly employees.
To acquire a “Bowser Trailer” of
3500 litres to enable transport of
Avgas from Wilson Airport and
store it at Orly.
To sell two more shares of Orly
Airpark Limited that OAL
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acquired in the recent land
purchase.
To increase income from other
sources, such as landing fees,
aircraft parking, etc.
To finalize and approve the new
Memorandum and Articles of
Association (Shareholders’
Agreement).
To finalize the tenure system for
the 12 “private plots” on LR 6470.
To acquire additional acreage in
the “Inverted Triangle” on the
north side of OAL.
To cover parts or all of the Main
Apron with Bamburiblox
Financial Report
Cash On Hand:
Potential Liabilities:
 Balance: Shs. Account:
 Legal Fees (Raffmann, Elms,
Dhanji, Virdee)
Shs. 746,528.40
 Recurrent Operating Costs (Staff,
 Balance: US $ Account:
$ 3186.25
 Total Balance ($ and Shs. @ $1 =
85.9): $ US 11,876.91
 Expected Income from Arrears:
$ 5850.00
 Total Cash and still expected
income from 2010: $ 17,726.91
Security, Office, Maintenance,
 Fuel, etc.)
 Old Credit of $ 400 to Garry
Spoors
 Relocation of the Lasiti
Homestead.
Land Purchases
Mini Plots
in
“Triangle”
8.4 Ac.
Purchased
Recently
Fees and Levies
 2010 Service Charges exceeded budget due to higher security
costs, generator fuel increases, lawn mower, uniforms, land
purchases, road maintenance, etc. 2011 will be lower.
 Development Levy was within budget, due to financial cushion.
 Land Levy over budget due to dramatic increase (Doubling) in
land values.
Board suggests:
 Service Charge of $ 1500 for 2011 for shareholders (More
workers, security costs up, office administration up, etc.).
 Private land holders charge: $ 200 per acre (Last year: $160)
 Development Levy for water supply system, water tower, pump
electricity cabling, small additional piece of land in “Triangle”,
staff housing, : $ 500.
 Additional funds may accrue if OAL can sell one or both
available shares. If so, more objectives can be achieved.
Hangars at East
Apron
Main Apron
Flying School
Typical Cottage