Thu | Oct 18, 2018

Why move Jamaica Broilers AGM?

Published:Friday | September 22, 2017 | 12:00 AM


This is an open letter to Peter DePass, company secretary of Jamaica Broilers Group (JBG).

I have just received the notice over your signature for the AGM of Jamaica Broilers Group scheduled for Tuesday, October 17, at the company's head office at McCook's Pen, St Catherine. As a shareholder, I write to express my utter dismay that the venue for the meeting has been changed from its usual location at the Jamaica Conference Centre in Kingston to St Catherine.

I wish to place on record my objection for the following reasons:

The meeting has been held at the Jamaica Conference Centre for many years and it was always well attended by many shareholders primarily because it was easily accessible to public transportation.

The proposed location for this year's meeting is not easily accessible by public transportation. Many of the shareholders who usually attend the AGM will have difficulty finding transportation because McCook's Pen is not easily accessible to mass public transportation.

Over the years, the shareholders/investors who attended looked forward to the meeting and participated eagerly, asking questions of the directors and making suggestions as to how the company they owned could be made more efficient.

I am sure that the directors cannot use cost cutting as an excuse for the change of venue, because for the year 2017, the JBG's net profit was $2.223 billion.

The articles of association and the company's by-laws may give the right to directors to determine the venue for the AGM; however, I am sure that the directors of the company would want to ensure that the shareholders/investors have a voice in the operation of the company. That, I believe, is the purpose of the AGM.

I strongly urge the directors to act with dispatch to have the meeting held at a venue that would give the shareholders/investors a fair chance of being able to attend. Such a move will demonstrate that you care about the shareholders and that you are willing to serve them.