Membership shares

OGHC has authorized the sale of an unlimited number of common membership shares at $50 par value per share. An individual must purchase one of these shares prior to becoming a member. 

In addition, what were termed “unit contribution shares” were sold to members who were moving into the co-operative. The number of shares that had to be purchased depended on a number of factors including size of unit and whether the suite was reserved for members who met government income limit rules. 

When members leave, OGHC purchases the shares and sells them to new members. As a result, the total value of the shares will not increase over time. There can, however be small fluctuations if the purchase and redemption of shares takes place near the end of the year.

The following table outlines OGHC share values in 2020.

Type of share20202019
Common member shares

Balance, beginning of year4,0504,050

Unit Contribution Shares

Balance, beginning of year3,420,0003,420,000
Share purchases and redemptions during the year (net)20,550
Balance, end of year3,440,5503,420,000
Total value of membership shares3,444,6003,424,050

Return to Changes in net assets 2020.

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