A ‘Staple’ at AGMs makes notable return after pandemic hiatus | Loop Jamaica

The content originally appeared on: Jamaica News | Loop News

Orette Staple, known to many in investment circles for his outspoken nature is a 77-year-old investor who holds listed companies to account.

Noted for his ability to establish his presence at every attended shareholder meeting with his keen attention to detail and sharp questioning — Staple has formed a critical role in the balance of the stakeholder-company relationship.

After a year’s break due to the global pandemic, Staple made a notable return to the securities landscape as he attended Salada Foods’ 57th Annual General Meeting (AGM) held on Thursday, April 7, at the Jamaica Pegasus Hotel in Kingston.

In his usual candour, the former university lecturer shared a three-minute-long speech praising Salada Foods’ management and staff for their hard work and accomplishments before proceeding with his well-anticipated questions.

A firm believer in having a say, Staple admitted to attending meetings to vocalize his opinion directly to those in charge.

” I can participate and I know exactly what’s happening in each company and I can find out from the company funded direct management what is really happening and how my investment is going,” he said.

Shareholder activist Orette Staple references his copy of the Salada Foods 2020/2021 Annual Report during the Q&A segment of Salad Foods’ 57th Annual General Meeting on Thursday, April 7, 2022, at the Jamaica Pegasus Hotel.

Staple’s demonstrated passion for investment has earned him the title of shareholder activist and several reported quotes in financial news.

AGMs which are typically done once a year and last approximately two hours are held to update shareholders on a company’s progress and afford shareholders an opportunity to vote on company issues as well as the company’s board of directors.

Despite an AGM typically being the only time during the year when shareholders and executives interact, these events are not usually well attended. And Staple has successfully seized the prime networking opportunity. The investor earned familiarity with some of the country’s most powerful people and companies through his attendance and participation in stakeholder meetings.

Currently, Staple has a stake in over 10 companies listed on the Jamaica Stock Exchange and maintains an active shareholder presence in each. His stock trading career started in 1998 when he first bought shares in National Commercial Bank (NCB).

Although in open disagreement with shareholders who choose to invest without interacting with the company, the Salada Foods shareholder is primarily focused on staying informed.

“It’s good to attend meetings, it’s good to listen and to participate because it gives you an idea of what is happening and how your money is being invested,” Staple shared.