In 2019 the Casino RSM Club made an emergency loan to the Woodburn Evans Head RSL Club of $1million to assist them in paying out a TABCorp agreement; which was likely to send the Woodburn Evans Head RSL Club into administration.
It was the intention during the loan discussions, that the two Clubs would work towards an amalgamation.
Since then the Board of Casino RSM Club has been trying to facilitate a memorandum of understanding (MoU) for members of both clubs to vote on. Unfortunately the Board of Woodburn Evans Head RSL Club, chose not to pursue amalgamation discussions to the point of formulating an MoU. Recently the Woodburn Evans Head RSL Club was able to secure new finance and repay the monies owed to the Casino RSM Club.
As such, at this stage as there is no commitment from Woodburn Evans Head RSL Club towards discussing the proposal further, the Casino RSM Club will not be perusing the matter.
While it is disappointing that members were not provided with an opportunity to vote on an amalgamation, we are thankfully that we have assisted in keeping another Services Club from avoiding possible administration and Woodburn Evans Head RSL Club has survived to service its members and the wider community.
We wish Woodburn Evans Head RSL Club all the best for the future, and any further decisions in regards to the Woodburn Evans Head RSL Club are a matter entirely for its membership.
Members are notified that the Board of Directors of Casino Returned Servicemen’s Memorial Club Limited is in negotiations for a proposed amalgamation with Woodburn-Evans Head RSL Club Limited (“Club Evans RSL”).
Negotiations are taking place to prepare a Memorandum of Understanding (“MOU”) with Club Evans RSL which will set out the details of the amalgamation as prescribed by clause 7 of Registered Clubs Regulation 2015.
Once completed, the MOU will be published on Casino RSM Club’s website and noticeboard.
Separate meetings of members of each Club will then be held to approve, in principle, the amalgamation. Once the respective members of each Club have given in-principle approval of the proposed amalgamation, the Clubs will then seek the approval of NSW Liquor & Gaming.
This notice is given pursuant to section 17AE of the Registered Clubs Act 1976 (NSW).
Dated: 30th September 2019
By Direction of the Board