Sedgman sells stake in accommodation provider Amode, partly owned by Sedgman CEO Nick Jukes Sedgman has dumped its stake in Amode, of which Sedgman MD Nick Jukes has a stake. MINING services operator Sedgman has dumped its stake in a private accommodation company partly owned by Sedgman's boss. The sale marks a turnaround from comments made in March by Brisbane-based Sedgman's managing director, who said the accommodation business represented a part of its growth plan. Sedgman took its equity stake in accommodation company Amode in December last year, as part of a bigger acquisition of a consulting firm. "The board decided it was non-core business," a Sedgman spokeswoman said on Tuesday about reasons for the Amode share sale. She said Sedgman MD Nick Jukes, who has a stake in Amode, was excluded from related director meetings and "we do not consider that there were any corporate governance concerns." Amode is a South Brisbane-based firm promoting itself as providing "accommodation modules to the energy, resources and construction industries." It has been focusing on construction, avoiding a slowing mining sector. Amode's association with Sedgman had been unusual because of a potential conflict of interest, but was openly declared. Sedgman's last accounts flagged its and Mr Jukes's interests in Amode and a Sedgman loan for $516,000, attracting 6 per cent interest to Amode. Mr Jukes said in March that he took no part in Sedgman decisions about the loan or its equity stake. He said the loan was made because start-up companies had trouble obtaining funding. He added that Amode "fits into the growth plan of Sedgman." A month later, according to regulatory documents, Sedgman sold its whole holding, which had paid up capital of $290,000. Tentative associations remain, with former Sedgman MD Peter Hay acquiring Sedgman's stake. Mr Hay had already been Amode's licence holder for the Papua New Guinea market and chairs another modular accommodation business. He said the focus was on overseas markets, especially with rapid construction of housing. The deal was an "opportunity" and, on commercial terms, "too commercial," he quipped. The deal involved the equity stake and debt. Sedgman details full-year profits this month and so declined to provide financial details on the sale. Similar to other mining services business, Sedgman has warned about the sector slowdown.