OLDS — Coun. Darren Wilson, who chaired the recent Olds Fibre Ltd. (OFL) annual general meeting (AGM), has defended the procedure under which it was held in an email to the Albertan.
The meeting was held July 8 in Olds town council chambers. Members of the public could attend in the chamber gallery (and about 10 did so) or they could watch the meeting online.
OFL operates as O-NET, a municipally-controlled corporation that provides high-speed internet as well as phone and TV service. Years ago, it was the brainchild of local businesspeople and volunteers.
It was announced at the outset of the July 8 meeting that no questions would be taken from attendees during the meeting. All questions had to be submitted by email to OFL board of directors chair Darren Wilson.
In accordance with that request, the Albertan sent an email to Wilson asking several questions including why all questions had to be sent to him via email.
Wilson basically repeated the instruction given out during the meeting.
“Residents and other interested parties may forward their questions to [email protected] for review and the board (of directors of OFL) will determine an appropriate method of response,” he wrote.
Wilson was asked why only Brent Williams, the town's chief administrative officer, spoke for shareholders/the public during this meeting and why various decisions made were not taken to those members of the public in attendance for ratification.
Wilson noted that on Oct. 1, 2021, the Town of Olds converted OFL into a municipally controlled corporation (MCC).
In so doing, the Town of Olds acquired the shares of OFL from the previous sole shareholder, the Olds Institute for Community and Regional Development.
“With the creation of the MCC on October 1, 2021 and the Unanimous Shareholder Agreement, there is one shareholder, the Town of Olds.
“The shareholder representative can either be council or the CAO, representing the residents of the municipality,” Wilson wrote.
“The CAO was speaking for the shareholder, who is the municipality.”
Wilson was asked why the AGM was held on a Friday night, a night when residents usually have other plans or engagements.
He was asked why it couldn’t have been held some other week night. It was suggested that if that had been the case, maybe more than 10 people may have been in attendance.
Wilson said the objective of the AGM was “very specific to the shareholder: accepting the 2021 financial statements and Independent Practitioner’s Review Engagement Report; appointing the auditor for 2022 and re-affirming board of director appointments.”
He said the original plan was for the AGM to be held in April. It was later postponed to the end of June “due to the complex (and delayed) transfer process of assets and liabilities to the MCC.”
He said the financial statements were finally ready for the board to review in early July.
“To remain compliant with the Business Corporations Act and not wanting to further delay the acceptance of the 2021 Olds Fibre Ltd financial statements, the decision was made to proceed with the AGM on July 8,” he wrote.
Before the AGM began, officials were asked why the structure of OFL seems so confusing.
“Olds Fibre Ltd. (operating as O-NET) is the corporation, which is also the MCC, created on Oct. 1, 2021. When people refer to the MCC, they are essentially referring to Olds Fibre Ltd.,” Wilson wrote.
“O-NET is the trade name or ‘doing business as’ name, which the public is most familiar with. Olds Fibre Ltd. operates as O-NET.
“We will do our best to clarify the naming issue in future public communications and via our respective websites.”
