20 June 2025
The Secretary
St Georges Basin Country Club
Paraerdise Road
Sanctuary Point NSW 2540

De-amalergamation of Country Club Vincentia

JBCSC Letter of Offer

Dear Mr Clegg,
The Jervis Bay Community and Sports Club Ltd (JBCSC) is prepared to pay $2 million to acquire the assets of Country Club Vincentia (CCV)

Payment would be made at the completion of de-amalgamation in accordance with the Registered Clubs Act 1976.

The steps involved in de-amalgamation impose responsibilities on both parties, and we will each need to satisfy ourselves on these as we progress.

Both parties will need to be satisfied with those due diligence investigations before JBCSC and SGBCC enter a definitive document, including the customary terms for such acquisitions.

JBCSC is putting this on the table now to ascertain whether the Board regards an acquisition consideration of $2M as providing an acceptable basis on which to progress to the next steps.

JBSCS has secure funding to support this offer.  You will also want assurance that our new club will be financially viable.

That assurance of JBCSC’s viability will be provided by the report of an Independent Accountant, as required under the Registered Clubs Act Regulation 2015 (Clause 11).  JBCSC will be more than a traditional club. While sports, particularly golf, will be at the
heart of the new Vincentia precinct, JBCSC will also incorporate a range of community activities.

Especially important will be initiatives addressing the gaps in youth training in Vincentia and the surrounding areas, particularly the needs of our vulnerable youth.

The Board’s announcement of de-amalgamation of CCV was welcomed by Vincentia members and the community. The innovative venture JBCSC is now embarking on has strong support.

JBCSC, and the Vincentia community, look forward to your response.

Craig Hatton
Chair
Jervis Bay Community and Sports Club Ltd

ABN 59 684 718 616