One day af­ter share­hold­ers of One Caribbean Me­dia (OCM) re­ject­ed the elec­tion of two Gov­ern­ment-nom­i­nat­ed di­rec­tors to the me­dia com­pa­ny's board, the Na­tion­al In­vest­ment Fund Hold­ing Com­pa­ny Lim­it­ed (NIF) has sub­mit­ted a le­gal re­quest for in­for­ma­tion on the vote at the OCM an­nu­al meet­ing.

NIF, which is a whol­ly State-owned in­vest­ment hold­ing com­pa­ny, nom­i­nat­ed in­sur­ance ex­ec­u­tive Dale McLeod and Shak­ka Subero, head of Gov­ern­ment Re­la­tions at Dig­i­cel, to be­come di­rec­tors on the OCM board.

The re­sults showed 23,997,642 votes against McLeod’s ap­point­ment and 23,229,443 votes for, while Subero re­ceived 28,684,368 votes against and 18,542,717 votes for his ap­point­ment.

NIF is the largest share­hold­er of OCM, hold­ing 23 per cent stake, or 15,286,000 shares the com­pa­ny. Those shares were ac­quired by the state in 2018 as a re­sult of the Cli­co bailout by the Gov­ern­ment.

In a let­ter sent to Kar­lene Ng Tang, com­pa­ny sec­re­tary of OCM, se­nior coun­sel Deb­o­rah Peake re­quest­ed in­for­ma­tion on Thurs­day's vot­ing and in­spec­tion of cer­tain doc­u­ments.

"NIF is re­quest­ing the fol­low­ing in­for­ma­tion:

* The names of the se­ries "A" share­hold­ers;

* The names of the Se­ries "B" share­hold­ers;

* The num­ber of Se­ries "A" share­hold­ers who vot­ed at the an­nu­al meet­ing held on Ju­ly 112024;

* The num­ber of Se­ries "B" share­hold­ers who vot­ed at the AGM;

* The num­ber of share­hold­ers who sub­mit­ted proxy forms au­tho­ris­ing the chair­man of the meet­ing to vote for them. "

Peake's let­ter con­tin­ued, "Fur­ther, NIF re­quests in­spec­tion of: OCM's share reg­is­ter that was utilised for the AGM; The record of the votes cast at the meet­ing; and the proxy forms and the iden­ti­fi­ca­tion doc­u­ments (where pro­vid­ed) of the per­sons who sub­mit­ted proxy forms for the meet­ing

The let­ter asked that the in­for­ma­tion be pro­vid­ed with­in a week (sev­en days) along with a date when a NIF rep­re­sen­ta­tive may at­tend at the reg­is­tered of­fice of the Com­pa­ny to con­duct the above in­spec­tion. "

The let­ter said "The above in­for­ma­tion and in­spec­tion will en­able my client to sat­is­fy it­self that the meet­ing was con­duct­ed in ac­cor­dance with the law, the ar­ti­cles and by laws of the Com­pa­ny and will demon­strate that the Com­pa­ny is com­mit­ted to trans­paren­cy and ac­count­abil­i­ty."

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