TWC Enterprises Limited
TWC Enterprises Limited is a federally incorporated Canadian company registered with Corporations Canada under corporation number 342786-2, governed by the Canada Business Corporations Act. Corporations Canada’s registry records the company as incorporated on 22 October 1997, initially under the name Century Continental Transportation Corporation; it was renamed Tri-White Corporation later that year, ClubLink Enterprises Limited on 22 July 2009, and TWC Enterprises Limited on 16 May 2014. The registry lists the corporation’s status as active.
Operating under the ClubLink brand (“ClubLink: One Membership. More Golf.”), TWC Enterprises describes itself as the largest owner, operator and manager of golf clubs in Canada, with 47 eighteen-hole-equivalent championship courses and two academy courses at approximately 35 locations in Ontario, Quebec and Florida. The company’s head office is at 15675 Dufferin Street, King City, Ontario. Golf-club operations are carried on through ClubLink Corporation, the group’s operating entity for its course portfolio.
TWC Enterprises Limited’s common shares trade on the Toronto Stock Exchange under the ticker symbol TWC, and the company continues to file quarterly results, management information circulars and other continuous-disclosure documents, most recently through 2026. Beyond golf operations, the company holds a unitholding in Automotive Properties Real Estate Investment Trust, built up through periodic open-market purchases disclosed in early warning reports between 2019 and 2022. In 2018, TWC Enterprises sold the White Pass and Yukon Route tourist railway, port and retail operations in Skagway, Alaska, to Carnival Corporation for approximately US$290 million, narrowing the group’s activities toward golf and real estate. On 17 September 2026, the company announced the renewal of its normal course issuer bid, permitting further repurchases of its own common shares on the TSX.
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Shareholders
1
Shareholders of TWC Enterprises Limited
TWC Enterprises Limited is a Toronto Stock Exchange-listed “distributing corporation” whose common shares are publicly traded, but the company’s own management information circular identifies K. (Rai) Sahi as the dominant shareholder. According to the management information circular dated 20 March 2025, prepared for the 7 May 2025 annual meeting, Mr. Sahi, together with two private holding companies he controls, Paros Enterprises Limited (“Paros”) and S.N.A. Management Limited (“S.N.A.”), beneficially owned, or controlled or directed, 19,585,251 common shares, representing approximately 80% of the voting rights attached to all issued and outstanding common shares as of that date. The circular discloses this figure as a single combined holding for Mr. Sahi, Paros and S.N.A. together and does not break out each entity’s individual percentage, so a separate stake cannot be stated for each. No other shareholder is identified in the circular as holding shares above the disclosure thresholds applicable to TSX-listed issuers.
Ultimate beneficial ownership
K. (Rai) Sahi is identified in the company’s own continuous-disclosure filings as the individual who beneficially owns, or controls or directs, directly and through Paros and S.N.A., approximately 80% of the voting rights attached to TWC Enterprises Limited’s common shares as of 20 March 2025. Because Paros’s and S.N.A.’s individual percentage holdings are not separately disclosed, an indirect-ownership figure cannot be independently calculated by multiplying through the chain; the approximately 80% figure is the company’s own combined disclosure of Mr. Sahi’s direct and indirect voting control, not a value calculated for this profile.
Data availability
Shareholder information for TWC Enterprises Limited is Major shareholders only: the controlling shareholder group is clearly disclosed in the company’s management information circulars and early warning reports, but shareholders below the applicable TSX disclosure thresholds are not identified, so a complete shareholder register is not available from public sources. The most recent confirmed figure dates from 20 March 2025. TWC Enterprises Limited has continued to file public ownership disclosures through its 2025 and 2026 management information circulars and remains listed on the TSX as of this profile’s research date; it has not gone private.
Registry feed — rows exactly as filed with Ontario Business Registry, including entries the profile above does not cover.
| Shareholder | Type | Holding | Source Document |
|---|---|---|---|
| Canoe Financial LP | 50% | Ontario Business Registry |
Officers
8
Directors and officers of TWC Enterprises Limited
TWC Enterprises Limited’s board of directors, as elected at the company’s 6 May 2026 annual meeting of shareholders, comprises eight members: Fraser R. Berrill, Patrick S. Brigham, Gagan Navani, Samuel J. B. Pollock, Angela Sahi, K. (Rai) Sahi, Donald W. Turple and Jack D. Winberg. The company’s own voting-results announcement confirms all eight nominees were elected to hold office until the next annual meeting. K. (Rai) Sahi serves as Chairman, President and Chief Executive Officer. Andrew Tamlin, CPA, has been identified as Chief Financial Officer in the company’s quarterly results announcements. Roles and occupations follow the company’s own disclosure; nationality and country of residence are not disclosed for any director or officer in the sources reviewed for this profile and have not been inferred from any name or address.
Recent officer changes
Gagan Navani was appointed to the board effective 1 August 2025, a change the company announced directly and which is reflected in the board elected at the 6 May 2026 annual meeting. Paul D. Campbell, who was a director as of the 7 May 2025 annual meeting, did not stand for re-election at the 2026 meeting.
Data availability
Officer and director information for TWC Enterprises Limited is Current only: the company’s management information circulars and annual-meeting announcements disclose the board standing for election each year, together with brief biographies, but the sources reviewed for this profile do not provide a complete historical register of every past director or officer. Nationality is not disclosed in these sources. Information reflects the 20 March 2025 management information circular, the 1 August 2025 director appointment announcement, and the 6 May 2026 annual meeting voting results.
Registry feed — rows exactly as filed with Ontario Business Registry, including entries the profile above does not cover.
Group Structure
Group structure of TWC Enterprises Limited
TWC Enterprises Limited is not an independent stand-alone operator: publicly disclosed company information identifies ClubLink Corporation as the group’s operating entity for the golf-club portfolio TWC Enterprises reports owning and managing under the ClubLink brand. TWC Enterprises Limited itself has no verified corporate parent; voting control instead rests with an individual, K. (Rai) Sahi, exercised through two private holding companies, Paros Enterprises Limited and S.N.A. Management Limited, as described in the shareholders section of this profile. Mr. Sahi is also the controlling shareholder of Morguard Corporation, a separate TSX-listed real estate company, and of other related private entities. This is a common-control relationship through the same individual rather than a verified parent-subsidiary or sister-company link between TWC Enterprises Limited and Morguard Corporation; no official filing reviewed for this profile establishes direct corporate ownership between the two companies, so the relationship is presented as a possible/common-control relationship only. TWC Enterprises Limited also holds a minority unitholding in Automotive Properties Real Estate Investment Trust, built up through disclosed open-market purchases; a unitholding of this kind does not make Automotive Properties REIT a subsidiary or affiliate.
Data availability
Group-structure information is Partial: TWC Enterprises Limited’s relationship to its ClubLink operating business is publicly disclosed, but the continuous-disclosure record reviewed for this profile does not include a complete, dated corporate organisation chart naming every subsidiary, its jurisdiction and registration number, or precise intercompany ownership percentages. The common-control relationship with Morguard Corporation through K. (Rai) Sahi is noted for context and should not be read as a verified corporate affiliation.
Registry feed — rows exactly as filed with Ontario Business Registry, including entries the profile above does not cover.
TWC Enterprises Limited
Canada
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Frequently Asked Questions
What is the legal name on file for this company profile?
TWC Enterprises Limited, per the on-file registration data for this profile.
What was TWC Enterprises Limited previously called?
Corporations Canada's federal registry records the company under four names over time: Century Continental Transportation Corporation (from 22 October 1997), Tri-White Corporation (from 18 November 1997), ClubLink Enterprises Limited (from 22 July 2009), and TWC Enterprises Limited (from 16 May 2014 to present).
Did ClubLink / TWC Enterprises go private?
No verified evidence was found that TWC Enterprises Limited (formerly ClubLink Enterprises Limited) has gone private or been delisted. Its common shares continue to trade on the Toronto Stock Exchange under the ticker symbol TWC, and the company continues to hold annual shareholder meetings and file quarterly results and management information circulars, most recently in 2026. Voting control is concentrated in one shareholder group, but this is disclosed public information, not a going-private transaction.
What is TWC Enterprises Limited's registration number?
No registration number is recorded in the on-file data for this profile. Corporations Canada's federal registry separately lists the company under corporation number 342786-2, governed by the Canada Business Corporations Act.
When was TWC Enterprises Limited incorporated?
No incorporation date is recorded in the on-file data for this profile. Corporations Canada's federal registry records an incorporation date of 22 October 1997, under the original name Century Continental Transportation Corporation.
In which country is TWC Enterprises Limited registered?
Canada (country code CA in the on-file data). The company is federally incorporated under the Canada Business Corporations Act, with a registered office in Ontario.
What is TWC Enterprises Limited's official website?
http://twcenterprises.ca/, as recorded in the on-file data for this profile.
What does TWC Enterprises Limited do?
It owns, operates and manages golf clubs under the ClubLink brand at approximately 35 locations in Ontario, Quebec and Florida, and also holds a minority investment in Automotive Properties Real Estate Investment Trust.
Is TWC Enterprises Limited publicly traded?
Yes. Its common shares trade on the Toronto Stock Exchange under the ticker symbol TWC, and the company continues to file continuous-disclosure documents as of 2026.
Who controls TWC Enterprises Limited?
K. (Rai) Sahi, together with his private holding companies Paros Enterprises Limited and S.N.A. Management Limited, beneficially owned or controlled approximately 80% of the voting rights attached to TWC Enterprises Limited's common shares as of 20 March 2025, per the company's management information circular.
Who are the current directors of TWC Enterprises Limited?
As elected at the 6 May 2026 annual meeting: Fraser R. Berrill, Patrick S. Brigham, Gagan Navani, Samuel J. B. Pollock, Angela Sahi, K. (Rai) Sahi, Donald W. Turple and Jack D. Winberg.
Who is the Chief Executive Officer of TWC Enterprises Limited?
K. (Rai) Sahi serves as Chairman, President and Chief Executive Officer, per the company's own disclosure.
Who is the Chief Financial Officer of TWC Enterprises Limited?
Andrew Tamlin, CPA, has been identified as Chief Financial Officer in the company's quarterly results announcements.
Does TWC Enterprises Limited have subsidiaries?
Publicly disclosed information identifies ClubLink Corporation as the group's operating entity for its golf-club portfolio. A complete, dated subsidiary register with jurisdictions and registration numbers was not located in the sources reviewed for this profile.
Is TWC Enterprises Limited related to Morguard Corporation?
K. (Rai) Sahi controls both TWC Enterprises Limited and Morguard Corporation, a separate TSX-listed real estate company, but no official filing reviewed for this profile establishes direct corporate ownership between the two; this is treated as a common-control relationship through the same individual rather than a verified parent, subsidiary or sister-company link.