Ounalashka Corp - The Eider Pointer Newsletter_Feb2019_11 web - Page 3

MESSAGE FROM THE CEO Dear Shareholders, I t’s winter here in Unalaska, but the cold weather has not deterred the Staff and Board of OC from their dutiful activities – working on new projects and initiatives to benefit OC and its Shareholders. As many Shareholders in Unalaska know, affordable, energy- efficient housing is needed on the island. OC is approaching the problem from an economic point of view. More housing is good for the local economy, which in turn benefits OC and its Shareholders. At the same time OC wants to diversify its investments, so that drastic downward movements in specific economies or markets do not have a devastating effect on the value of corporate assets. By taking a measured approach to developing local residential projects OC can reduce its risk while phasing its investment in real estate development. Protecting OC’s properties through upkeep and upgrades is essential to ensuring the assets’ future revenue production and long-term value. In 2019 the board approved several capital improvements to OC properties. Upgrades to existing structures such as new siding and roofing, updated utility features and functions, and investments in energy efficient lighting will provide a new look and many additional years of service to these assets. There is no substitute for routine maintenance and facility upgrades when looking out for the best interests of the Corporation and Shareholders. A significant number on OC’s balance sheet comes from OC’s equity and debt securities, and, along with OC’s investment advisors, the OC team monitors the stock market and applies OC’s investment strategies. Thanks to the Board’s time- tested and risk-adjusted investment policies, which have been consistently applied without waiver in the face of falling markets, OC stays strong even during fluctuations that have negatively impacted many. We will continue to keep an eye on our portfolio, and ensure compliance with OC’s investment policy while making prudent adjustments necessary to keep it healthy and profitable. At the core the corporation are its ANCSA lands. These lands are OC’s source of wealth, whose value cannot be accurately measured because these lands are priceless. OC has seriously invested in the management of lands by way of mapping via GIS software and adding layers of information regarding environmental and cultural topics related to OC land. This will allow for better oversight of OC’s lands and monitoring of their use. We are also very close to launching a new website for OC! OC has started using Facebook regularly to share news and updates from the company, and I encourage you to follow us for daily updates as well as the launch of the new site. In the future, the site will be linked with a new shareholder portal – MyOC – that will allow for secure access to individual shareholder information, forms and other resources. Currently, staff is in the process of transitioning shareholder records to the new software, the first step toward launching MyOC. Again, keep an eye on social media for updates. Here in the corporate office the FY18 financial audit is underway. These efforts will lead up to the annual report and OC’s annual meeting. This year’s meeting will be held on June 1, 2019, at the Grand Aleutian Hotel in Unalaska. I also look forward to seeing many of you there and at the informational meeting in Anchorage on Saturday, March 10, 2019 at the Captain Cook Hotel. A reminder notice will be sent to Anchorage area shareholders. In closing, OC is committed to supporting causes and initiatives that are important to our shareholders and community. Recently, many have been affected by the government shutdown, and organizations around the state have provided support to the people and families who were impacted. OC has participated in local efforts to assist, and is proud of the work done in our community by government employees, including the Coast Guard, USPS and others. Your corporation is in a positive place, and we are strong and healthy. There are many new developments and opportunities, and OC is always looking for the best path forward for the corporation and shareholders. I wish you all the best, and look forward to hearing from and seeing you in the year ahead. Sincerely, Christopher P. Salts, Sr. CEO OC’S FEBRUARY 2019 NEWSLETTER 2