Market Update – Aug 11, 2011

Market Summary:

In Thursday’s trading session, the overall Market activity on the markets resulted in the trading of 32 stocks of which 14 advanced, 10 declined and 8 traded firm.

The Overall Market Volume (excluding blocks) amounted to 7,412,452 units valued at $ 96,034,073.76, with the following companies representing the volume leaders: –

• Jamaica Broilers Group with 1,716,437 units, amounting to 23.16% of the market volume
• Jamaica Producers Group Ltd. with 1,347,257 units, amounting to 18.18% of the market volume
• Mayberry Investments Limited with 1,345,369 units, amounting to 18.15% of the market volume

Market Breakdown

Regular Market
The Regular Market activity resulted in the trading of 26 stocks of which 13 advanced, 7 declined and 6 traded firm.

Regular market volume (excluding blocks) amounted to 7,061,555 units valued at $ 93,784,007.84, with the following companies representing the volume leaders: –

• Jamaica Broilers Group with 1,716,437 units, amounting to 24.31% of the market volume
• Jamaica Producers Group Ltd. with 1,347,257 units, amounting to 19.08% of the market volume
• Mayberry Investments Limited with 1,345,369 units, amounting to 19.05% of the market volume

Junior Market

Market volume (excluding blocks) amounted to 350,897 units valued at $ 2,250,065.92

• Lasco Manufacturing Limited with 173,283 units, amounting to 49.38% of the market volume
• Caribbean Producers Jamaica Limited with 87,478 units, amounting to 24.93% of the market volume
• Amg Packaging  & Paper Company Limited with 35,000 units, amounting to 9.97% of the market volume

Other news

• The Board of Directors of Supreme Ventures Limited has declared an interim dividend of $0.05 per share payable on September 12, 2011 to stockholders on record as at August 26, 2011. The ex-dividend date is August 24, 2011.
• On August 10, 2011, Jamaica Money Market Brokers Limited (JMMB) and Capital & Credit Financial Group Limited (CCFG) announced to their shareholders and the public that they have been in dialogue in connection with JMMB’s interest in making an offer to acquire up to 100% of the issued share capital of CCFG at a price of J$4.55 per share. It is JMMB`s intention that such offer would involve the offer price being payable partly in cash and partly by way of an issue of new ordinary shares in JMMB to the shareholders of CCFG, subject to the necessary JMMB shareholder approvals being obtained. This transaction would involve a change of control whereby JMMB would gain control of Capital & Credit Merchant Bank Limited (CCMB), a subsidiary of CCFG and a licensee under the Financial Institutions Act and would therefore be subject to the approval of the Minister of Finance, on the basis of an application made to the Bank of Jamaica (BOJ).
• Jamaica Money Market Brokers Limited traded at its 52-week high of $9.01.