NEWARK COUNTRY CLUB STOCKHOLDERS

APPROVE EXCHANGE AGREEMENT

NEWARK, DE – The stockholders of the Newark Country Club voted Thursday to approve the club’s entering into an agreement with Aston Development Group for a swap of land and full club facilities upon completion of proposed country club two miles away in Cecil County, Md.

There are 330 current club members owning 948 shares, while former members or their heirs hold 355 of the issued shares for a total of 1,293. Approval required a majority of the 1,293 shares (647 shares voted to approve) and the final tally was 702.5-389.

With 84 percent of the shares voted, approximately 64 percent of those votes were in favor of the exchange agreement. Active members accounted for the preponderance of the votes in favor of the exchange agreement with 578 of their shares cast for approval.

“The Newark County Club exists through the support of its members, so it was gratifying to see the active members made their top priority the growth in membership that ensures our long-term future,” Newark Country Club president Ron Gardner said. He noted that by individual head count, not number of shares held, the voting members were 4-to-1 in favor of approving the exchange agreement.

Final execution of the exchange is contingent upon time-specific terms of the agreement being met by Aston Development Group and ultimately the satisfactory completion of the Cecil County country club facility. In any event, the Newark Country Club will continue to operate at its West Main Street location for the next three years.

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Contact: Chris Scherf 302-981-6145