Original sealed court order to be served on JSE

The Supreme Court has approved a petition from Salada Foods Jamaica for, among other things, permission to hold its general meetings for the years 2021-23, partially or wholly by electronic means.

Salada Foods is now awaiting the original sealed perfected order from the court to serve on the Jamaica Stock Exchange (JSE) with an original copy of the perfected signed order once it has been received from the court.

Salada Foods Jamaica Limited, through one of its directors, Patrick Williams, filed the petition in the Supreme Court last month, seeking permission, on behalf of the company, to hold its general meetings partially or wholly by electronic means.

The court heard the petition on February 18 and, following legal arguments by attorneys for Salada Foods, the court approved the petition to hold its general meetings for the years 2021 -2023 partially or wholly by electronic means given restrictions on gatherings arising from COVID-19.

Williams, who was appointed chairman of the board on March 5, 2015, and has served as a director since February 8, 2012 sought the order to have partial or full virtual meetings pursuant to section 130(2) of the Companies Act.

Several other listed companies filed similar petitions, the most recent being Jamaica National Group, which earlier this month was granted approval to hold its 2020 annual general meeting (AGM) virtually, which took place last week.

Most of these companies have since hosted their AGMs virtually in accordance with the court ruling and in compliance with JSE rules.