Calista discusses shareholder rights

by Ben Matheson on January 3, 2014

CAL_Logo_3Met_only_normalCalista is a growing company and its shareholders want to keep up with the Alaska Native Corporation. Calista recently published an overview of shareholder rights and their access to information.

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Thom Leonard, Calista’s communication manager says he’s fielded many requests from Calista’s more than 12,500 shareholders.

“There’s been increased shareholder activity and interaction with Calista Corporation. It certainly is a shareholder’s right to be involved and have knowledge of what’s going on with a corporation,” said Leonard.

Their legal team has put together some information about what shareholders have access to. Basic rights include the election of the board of directors, vote to change bylaws and review corporate records, and attend the annual meeting.

But there are other items of interest, such as the 11 directors who were investigated over a yearlong period. 6 censures were made public and everyone has have access to the finding on those six. Leonard adds that meeting minutes contain relevant information on the ethics issue.

“Shareholders can get an idea of some the discussion made over the past few years that relate to this investigation,” said Leonard.

There’s also been a lot of interest in the status of President and CEO Andrew Guy, who was on administrative leave in 2012. Normally personnel issues would be kept private, but CEO Andrew Guy has opened up his file to shareholders.

“President Guy felt that having the investigation available for shareholders for review was a fair and reasonable request, so he authorized, as the personal subject of the investigation, to make that investigation available to shareholders upon a written request,” said Leonard.

A key word there is shareholders. Those who aren’t shareholders do not have access to many types of documents, like meeting minutes or Andrew Guy’s file. Requests for information would have to be examined closely.

“That would have to be reviewed by the legal department. To determine whether that is a necessary action,” said Leonard.

Leonard says that the company’s major actions are posted online publicly in the form of news releases. Again, any request for information should be made in writing so that the company can verify a shareholder’s identity. The contact information and a review of shareholder rights is available below.

Link to shareholder rights information

301 Calista Court
Anchorage, AK 99518

Calista online:

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