OLDS — An annual general meeting has been scheduled for Olds Fibre Ltd. (OFL), which operates as O-NET, the locally-owned company that provides high-speed internet as well as phone and TV service.
The AGM will be held this Friday, July 8 starting at 7 p.m. in town council chambers.
People who are interested but not able to attend in person can remotely access the meeting via Zoom or by phone.
Over the years, the Town of Olds incurred $14 million worth of debt and a $4 million line of credit to help OFL finance its operations. Lately, the municipality has been trying to find a solution to that problem. It is in the process of turning OFL into a municipally-controlled corporation.
The town says negotiations are underway "regarding the future of OFL.” It says those talks are subject to a non-disclosure agreement but that “information will be available as soon as reasonably possible.”
