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 share||2020||2019|
|Common member shares|
|Balance, beginning of year||4,050||4,050|
|Unit Contribution Shares|
|Balance, beginning of year||3,420,000||3,420,000|
|Share purchases and redemptions during the year (net)||20,550||–|
|Balance, end of year||3,440,550||3,420,000|
|Total value of membership shares||3,444,600||3,424,050|
Return to Changes in net assets 2020.