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St Joe's CEO Hosts Annual Shareholder Meeting (Transcript)

Stocks in this article: JOE

Present today are representatives of KPMG, the company’s independent registered public accounting firm who will be available to answer any appropriate questions during the Q&A portion of the meeting. Ken Borick will act as the secretary of the meeting. We are being assisted today in the calculation of proxies and ballots by Michael Barbera (ph) from Broadridge Financial Solutions. At this time, I appoint Michael Barbera as inspector of the election.

The notice of the meeting has been mailed – the notice of this meeting has been mailed to each shareholder of record as of March 15, 2012. The inspector of election has informed me that 85,023,733 shares of company’s voting stock are present in person or by proxy, constituting a quorum for today’s meeting. A list of shareholders on March 15, 2012, the record date may be inspected by any shareholder who is present. The final report of the inspector of elections will include the vote, if any, if shareholders present and voting in person.

The inspector of election has provided an affidavit of mailing to show that notice of the meeting was given on or about April 5, 2012. A copy of both the notice and the affidavit will be incorporated into the minutes of this meeting.

Next, I will describe each matter to be acted on at the meeting and then we will take the vote. Since no direct nominees, since the proposals for business were properly filed by shareholder in advance at this meeting, the business at this meeting is limited to the following three proposals. The first proposal before the shareholders is the election of the eight directors to serve until the next annual meeting. I am standing for re-election as a director today along with the following nominees. Sitting behind me, I’d ask each of the nominees to wave as his name is called. Cesar Alvarez is not with us. He had to be in court today. So he sends his regret. Park Brady, Governor Charles Crist, Howard Frank, Jeff Keil, Stan Martin, Thomas Murphy. We recommend the election of these nominees.

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