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Access owners vote for status quo under high security

Published:Thursday | September 11, 2014 | 12:00 AM
File CEO of Access Financial Services, Marcus James.
Winston Sill/Freelance Photographer Company Secretary Gary Peart, left, and Mark Berry, at second left, at the annual general meeting of Access Financial Services Limited held at Courtleigh Hotel in New Kingston on Wednesday, September 10, 2014.
Winston Sill/Freelance Photographer Business expert Sandra Glasgow, left, and Brian Goldson, right, at the annual general meeting of Access Financial Services Limited held at Courtleigh Hotel in New Kingston on Wednesday, September 10, 2014. Glasgow's bid for a seat on the board failed.
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feel free inside there today," Staple said on his way out the door. "I'm just not into the politics thing."

About 100 shareholders were in attendance at the closed-door meeting, the largest AGM the company has ever had in its history. The number also represented more than a third of the company's total 285 shareholders.

Several people who wanted to attend the meeting could not because they did not hold shares, or did not have a sealed and stamped proxy agreement. Officials from the Jamaica Central Securities Depository checked each shareholder on their list, before handing them voting forms.

The vote was adjudicated by the JCSD team led by Michelle Sirdar.

Marcus James had made a last-ditch effort to curtail voting of more than 27 million shares held between Mayberry and Goldson, but the court turned down his application. James said on Tuesday night that his intent was to clarify an earlier ruling by Justice Brian Sykes relating to a standstill agreement.

Any tension that might have resulted from that challenge was not referred to by either Goldson or James, who showed a united front and said the meeting had run smoothly after it ended on Wednesday night.

"It was not a battle," Goldson said, it was a ?very civil affair?.

"Points of contention were not raised," Goldson told the Financial Gleaner. "At the end of the day, the results have been accepted and we just want to move on."

The sentiment was echoed by Marcus James. "I welcome the new board and look forward to continue building value for shareholders," he said.

The AFS shares are currently trading at about $10, off its recent high $13.50 but still more than a dollar above the trading price of $9 that was in play when the court fights began in April.