Jamaica Broilers Group Limited (JBG) – Adjourning of AGM

Posted: November 4, 2020 at 3:47 pm

Jamaica Broilers Group Limited (JBG) has provided an update concerning developments related to their upcoming AGM which is scheduled for November 18, 2020.

JBG advised that the next Annual General Meeting of the Company is statutorily due no later than January 23, 2021 and that the Company had given notice to its 16,677 ordinary shareholders of its intent to hold its Annual General Meeting (AGM) on Wednesday, November 18, 2020. JBG further advised that the Company’s Articles of Incorporation does not include a provision allowing the company to have a general meeting by electronic means and due to the COVID-19 pandemic and the Company’s importance to the food supply, the Company decided to apply to the court to have a virtual meeting for its AGM to limit the physical interactions.

Accordingly: –

  • On October 15, 2020- the Company wrote to the JSE confirming its agreement to participate in the Representative Action and granted our consent to the JSE to make the application on its behalf (along with six other listed companies).
  • On October 26, 2020, Mr. Justice David Batts granted the JSE’s application to bring the claim on behalf of the seven companies for the court to permit them to hold their annual meetings electronically.
  • On Thursday, October 29, 2020, the Company was advised that November 25, 2020 is the date on which the Court will hear the JSE’s claim. On this date, the Supreme Court will hear the Claim in which the JSE, as a representative claimant for the 7 publicly listed companies will seek orders permitting the companies to hold their next annual general meetings electronically.

JBG also advised that as the appointed Court date is scheduled to be after the Company’s planned AGM date, the Company is proposing to adjourn the Annual General Meeting scheduled to take place on Wednesday, November 18, 2020 at 2:00 p.m., to a date to be advised, pending the Company’s request to the Court to have the meeting held electronically.

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