Platform will overcome challenges faced by listed, non-listed companies in hosting their AGM, EGMs and other events during pandemic

The Jamaica Central Securities Depository Limited (JCSD) has found a solution to the challenges being encountered by listed and non-listed companies in hosting general meetings during this pandemic with the current gathering and face-to-face restrictions.

In a visionary approach, the JCSD, recognising the challenges faced by companies in hosting their annual general meetings (AGMs), extraordinary general meetings (EGMs) and other events during this pandemic, has partnered with AppFinity Technologies Limited in delivering the JCSD E-AGM Platform service. The platform, which was launched on March 30, 2021, will allow companies to host their meetings virtually or hybrid.

AppFinity Technologies, which is a Jamaican start-up company, formed by a group of young professionals, builds software solutions for businesses and companies using innovative technologies. Launched to a virtual audience from listed companies and those considering going public, the online gathering was particularly pleased with the demonstration that showed that the platform can be tailored to meet the meeting needs of any company desirous of hosting an event.

Platform is in keeping with the JSE’s mandate

In her address to the business community at the launch, Marlene Street-Forrest, managing director of the Jamaica Stock Exchange (JSE), the parent company of JCSD remarked that, “this platform is in keeping with the JSE Group’s mandate to ensure that we provide the best full-service offerings to you our clients and issuers of securities to the market. Enabling this virtual AGM platform powered by AppFinity will act as that medium to communicate with shareholders as we strive to protect the market and to protect and serve stakeholders”.

Street-Forrest sought to reassure participants that “as an Exchange Group, we are also conscious of the implications of legislative changes on our own operations so that as we seek to provide products and services for you. We build in these considerations, either in the software we provide or the rules relating to the service”.

She made the point that, “issues such as data protection and cyber-security are key to our process and these are areas of focus for us so that our services to you have embedded in them safeguards to mitigate risks”.

Street-Forrest placed emphasis on good corporate governance, transparency and market confidence to ensure the growth and sustainability of businesses, during COVID-19 and post the pandemic.

JCSD General Manager Andrea Kelly, in her welcoming remarks, said: “The JCSD has pivoted to serve the market with a solution that is COVID proof. This solution removes the stress of planning an AGM and manoeuvring the many nuances of putting it all together to satisfy the requirements of the Companies Act. We do that for you. The solution can be personalised to your wishes, all documents and information uploaded; a one stop shop.”

The JCSD E-AGM platform is cost-effective

Kadyll McNaught-Hermitt, manager of registrar & depository services, described the JCSD E-AGM platform as a “full-service solution open to any issuer whether or not they are a client of the JCSD. The platform can be easily branded and customised to meet the needs of the issuer and in turn the shareholders”.

She explained that “the solution is being provided by experts in the field of Registrar Services and Software Development and supports fully virtual or hybrid AGM or EAGM. The solution is cost-effective and included in the package are training and test runs so that the issuer and participants are comfortable on the day of the AGM”.

In his remarks, George Henry, CEO and founder, said: “Appfinity Technologies, which was founded in 2017, provides a user-friendly platform through which AGM can be fully customised. The platform provides secure access for meetings and is operationally friendly for users within the app.”

He added that, “the system provides a three-step process that gives users complete access and privacy and guarantees accurate data, daily backup with 24/7 monitoring backend software equipped for the technological vast time in which we are currently live”.

AppFinity Technologies mission to deliver exceptional software development services for the local market has propelled the growth of the company.

AppFinity’s mandate is to provide only the best technology solutions for businesses.