Junior Market drops points – Monday

The Junior Market fell at the close of trading on Monday with 19 securities changing hands, the same number on Friday, the market Index declined by 14.28 points to close at 2,933.45.
At the close of trading the prices of 5 securities advanced, 9 declined and 5 remained unchanged
Trading ended with an exchange of just 464,517 units valued at a mere $1,948,493 down sharply from 2,462,706 units valued at $9,020,103 on Friday.
Market activity ended with an average of 24,448 units for an average of $102,552 compared to an average of 129,616 units for an average of $474,742 on Friday. The average volume and value for the month to date, amounts to 132,910 units at $537,913 compared to 266,611 units at $566,937 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 5 stocks ending with bids higher than the last selling prices and 3 with lower offers.
At the close of the market, AMG Packaging ended with a loss of 7 cents at $2, trading 51,250 stock units, Blue Power concluded trading with a loss of $3.16 at $36.83, with 1,000 units, Caribbean Flavours traded at $11, with 196 stock units, Caribbean Producers finished trading at $5, with 5,486 units, Derrimon Trading concluded trading with a loss of 5 cents at $9.45, with 17,429 shares. Elite Diagnostic settled 17 cents higher at $3.32, with 126,731 units, Eppley ended trading with a loss of 1 cent at $9.40, with 2,000 shares, Express Catering traded 40 cents higher at $5.70, with 890 shares, FosRich Group finished trading 9 cents higher at $2.50, with 3,060 shares. GWest Corporation ended with a loss of 5 cents at $2.45, with 15,300 units, Honey Bun concluded trading with a loss of 20 cents at $4.40, exchanging 4,961 shares, Iron Rock finished at $3, with 49,100 shares, Jamaican Teas ended trading with a loss of 45 cents at $4.55, after 20,000 stock units changed hands. Jetcon Corporation traded with a loss of 30 cents at $4.20, with 12,706 units, Knutsford Express ended at $14, with 7,200 shares, Lasco Distributors concluded trading with a loss of 15 cents at $4, exchanging 68,550 stock units, Lasco Financial finished 14 cents higher at $5.34, with 206 units. Lasco Manufacturing settled at $4, with 13,010 shares and Stationery and Office closed 10 cents higher at $6, with 65,442 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Berger directors failed to accept Ansa offer

Berger Paints annual report had some good news for investors to digest.

Berger Paints Jamaica (BRG) directors, used a number of unsupported information in highly recommending acceptance by minority shareholder of an offer by ANSA Coatings International to acquire their holdings last year.
The minority shareholders rightly ignored the directors recommendations in rebuffing the offer of $10.88 per share with just over 6 million units out of 105 million were surrendered. The stock now trades at $19 back to the level it traded at before the offer was made.
The directors’ circular apart from highly recommending acceptance of the offer, based on what they must have considered to be a fair price following PriceWaterhouseCoopers Tax and Advisory Services

” fair value assessment of the price among other factors. The recommendation went on to say that directors Michael Fennell, Warren McDonald and Milton Samuda along with employees Huron Gordon, Gladys Miller and Jacqueline Warren-Wilson intend to accept the offer. No intention was telegraphed by director Pokar Chandiram who subsequently passed on.
After the closing of the offer, a notice posted on the Jamaica stock Exchange website on October 26, 2017, reported that “Berger Paints Jamaica has advised that a Director and a Senior Manager sold a total of 437,895 BRG shares in response to the take-over bid offer by ANSA Coatings International, during the period the Offer was open and at the Offer price.”

Andy Mahadeo, the Managing Director

The amounts mentioned above represent shares held by McDonald and Miller. The annual report for December 2017 was revealing, as it still had all directors’ shares listed in their own names or that of their connected parties. Only Gladys Miller is shown as having disposed of her shares.
In their opinion they said,” in your directors view, it is highly likely that acceptance of the offer will take the aggregate holdings of ACI beyond 80 percent, in fact the Offeror had made it clear of its intention to delist the Berger shares if it acquires 29% or more of the shares.” “It is therefore clear that Berger Jamaica shares will in all probability be delisted from the JSE.” The directors offer no information from coming to such a conclusion.
The latest information, clearly does not sit well with the strong recommendations made to shareholders to accept the offer. IC Insider.com was advised that the registrar never received the acceptance documents within the time frame required to accept the offer and the matter only surfaced when enquiries were made about nonpayment for the shares. Some directors are adamant that they accepted the offer by submitting the acceptance form. IC Insider.com has been unable to determine where those applications went, suffice to say that they never got to the right place to effect acceptance. Up to Monday this week the shares were not transferred and were still in the names of the directors. With the offer having been closed those shares can no longer be a part of the offer and any disposal would have to be on different terms than that offered in 2017 with the stock now trading at $19. At any rate the notice from Berger to the exchange only mentioned one director with no mention of the others. This matter along with the poor judgement in advising shareholders about acceptance again raises questions as to the suitability of the directors to protect the interest of minorities.

Junior Market jumps 47 points – Friday

The Junior Market fell at the close of trading on Friday with 19 securities changing hands as the prices of 7 securities advanced, 5 declined and 7 remained unchanged as market Index jumped 46.58 points to 2,947.73.
Trading ended with an exchange of 2,462,706 units valued at $9,020,103 up sharply from 1,190,114 units valued at $4,531,582 on Thursday.
Market activity ended with an average of 129,616 units for an average of $474,742 compared to an average of 62,638 units for an average of $997,673 on Thursday. The average volume and value for the month to date, amounts to 266,611 units at $566,937 compared to 140,892 units at $573,523 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 3 stocks ending with bids higher than the last selling prices and 6 with lower offers.
At the close of the market, Caribbean Cream ended trading 80 cents higher at $4.80, with 30,000 shares changing hands, Caribbean Producers rose 35 cents to close at $5, with 14,955 units, Consolidated Bakeries closed with a loss of 5 cents at $1.95, trading 542 shares, Derrimon Trading concluded trading 10 cents higher at $9.50, with 40,270 shares, Elite Diagnostic settled with a loss of 5 cents at $3.15, exchanging 129,503 units. FosRich Group fell 14 cents to $2.41, with 13,924 shares, General Accident closed with a loss of 14 cents at $3.01, with 4,967 stock units trading, GWest Corporation ended at $2.50, with 9,050 units, Honey Bun concluded trading 15 cents higher at $4.60, with 86,460 shares. Iron Rock finished at $3, with 200,000 shares, ISP Finance settled 1 cent higher at $15.01, with 30,000 shares, Jetcon Corporation traded 25 cents higher at $4.50, with 131,031 units, KLE Group closed at $2.45, with 3,383 shares. Lasco Distributors concluded trading 13 cents higher at $4.15, with 147,874 stock units, Lasco Financial finished at $5.20, with 194,766 units, Lasco Manufacturing closed at $4, with 126,625 shares, Stationery and Office closed at $5.90, with 231,203 units and tTech concluded trading with a loss of 28 cents at $5.50, as 68,153 shares traded. In the junior market preference segment, newly listed Derrimon Trading 9% preference share closed at $2, with 1,000,000 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

JSE trading in record territory

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Kingston Wharves jumped to a record $50 in trading 2,600 shares on Friday morning on the main market of the Jamaica Stock Exchange and helped to push the All Jamaica Index to an all-time record.
At 11.22 am, the JSE All Jamaican Composite Index climbed 3,135.84 points to a to be in intraday record high territory of 328,106.42 and the JSE Index was up 2,850.36 points to 298,942.03 another record level. Jamaica Producers traded 1.85 million units and rose to $16.
The Junior Market was more subdued and traded with a rise of just 3.52 points rise to 2,904.67.

Junior Market falls on Thursday

The Junior Market fell at the close of trading on Thursday with 19 securities changing hands, versus 20 on Wednesday, with gains in 8, declines in 7, while 4 remained unchanged. The Junior Market Index declined by 15.38 points to close at 2,901.15.
Trading ended with an exchange of 1,190,114 units valued at $4,531,582 down sharply from 4,712,347 units valued at $19,953,457 on Wednesday.
Market activity ended with an average of 62,638 units for an average of $997,673 compared to an average of 235,617 units for an average of $997,673 on Wednesday. The average volume and value for the month to date, amounts to 140,892 units at $573,523 compared to 146,912 units at $599,293 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 6 stocks ending with bids higher than the last selling prices and 3 with lower offers.
At the close of the market, AMG Packaging gained 1 cent and closed at $2.07, with 65,019 stock units, Consolidated Bakeries closed with 2,000 shares after rising 5 cents to $2, Derrimon Trading concluded trading 25 cents higher at $9.40, with 2,337 shares, Elite Diagnostic added 2 cents to end at $3.20, with 374,941 units trading, Eppley ended trading with a loss of 9 cents at $9.41, as 1,698 shares changed hands. Express Catering traded with a loss of 3 cents at $5.30, with 52,423 shares, FosRich Group finished trading at $2.55, with 174,580 shares, GWest Corporation ended at $2.50, with 19,256 units, Honey Bun concluded trading 3 cents higher at $4.45, with 3,315 shares. Jamaican Teas ended trading with a loss of 3 cents at $5 and an exchange of 29,556 stock units, Jetcon Corporation traded 9 cents higher at $4.25, with 11,763 units, Knutsford Express ended at $14, with 18,116 shares, Lasco Distributors concluded trading with a loss of 13 cents at $4.02, with 295,257 stock units. Lasco Financial finished at $5.20, with 7,000 units, Lasco Manufacturing rose 1 cent to settle at $4, with 28,500 shares, Main Event ended trading 10 cents higher at $6.20, with 47,452 shares, Medical Disposables traded with a loss of 10 cents at $5, after exchanging 10,647 shares, Stationery and Office closed with a loss of 10 cents at $5.90, swapping 17,722 units and tTech fell 2 cents to $5.78, with 28,532 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market strengthens – Wednesday

Lasco Distributors traded 3.78M shares.

The Junior Market rose at the close of trading on Wednesday with 20 securities changing hand, similar to that on Tuesday, leading to gains in 10 and declines in 5, while 5 remained unchanged. The Junior Market Index gained 11.96 points to end at 2,916.53.
Trading ended with an exchange of 4,712,347 units valued at $19,953,457 compared with just 1,074,280 units valued at a mere $4,821,468.
Market activity ended with an average of 235,617 units for an average of $997,673 compared to an average of 53,714 units for an average of $241,073 on Tuesday. The average volume and value for the month to date, amounts to 146,912 units at $599,293 compared to 139,096 units at $564,194 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 9 stocks ending with bids higher than the last selling prices and 3 with lower offers.
At the close of the market, AMG Packaging ended 6 cents higher at $2.06, with the trading of 76,950 stock units, Caribbean Producers finished trading with a loss of 35 cents at $4.65, with 41,835 units, C2W Music ended with a loss of 1 cent at 43 cents, with 14,000 shares, Derrimon Trading concluded trading 15 cents higher at $9.15, with 67,000 shares, Elite Diagnostic settled with a loss of 1 cent at $3.18, trading 34,294 units. Eppley ended trading with a loss of 1 cent at a 52 weeks’ low of $9.50, with 17,350 shares changing hands, Express Catering traded 8 cents higher at $5.33, with 20,000 shares, FosRich Group finished trading at $2.55, with 143,514 shares, General Accident closed 15 cents higher at $3.15, with 25,000 stock units. ISP Finance settled 1 cent higher at $15, with 17,607 shares, Jamaican Teas ended trading after rising 3 cents to $5.03, with 25,000 stock units, Jetcon Corporation traded 1 cent higher at $4.16, with 73,064 units, Key Insurance finished trading with a rise of 40 cents to $3.40, with 121 shares. Knutsford Express ended at $14, with 200 shares traded, Lasco Distributors gained 13 cents to close at $4.15, with 3,775,816 stock units, Lasco Financial finished at $5.20, with 117,512 units, Lasco Manufacturing settled with a loss of 1 cent at $3.99, with 40,184 shares. Main Event ended trading 5 cents higher at $6.10, with 70,000 shares, Paramount Trading finished trading at $3.10, with 5,000 stock units and Stationery and Office closed at $6, with 147,900 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market consolidating – Tuesday

 

Stationery & Office Supplies traded at new record high on Tuesday.

At the close of Junior Market activities, 20 securities changed hands compared 24 securities on Monday leading to declines in the prices of 7, with 6 rising, while 7 remained unchanged and leading to the Junior Market Index declining 1.38 points to 2,904.57.
Trading ended with an exchange of 1,074,280 units valued at $4,821,468 compared with 1,793,298 units valued at $7,093,168.
Market activity ended with an average of 53,714 units for an average of $241,073 compared to an average of 74,721 units for an average of $295,549 on Monday. The average volume and value for the month to date, amounts to 139,096 units at $564,194 compared to 147,346 units at $595,413 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 9 stocks ending with bids higher than the last selling prices and 4 with lower offers.
At the close of the market, AMG Packaging ended at $2, with 22,875 stock units changing hands, Cargo Handlers settled with a loss of 48 cents at $9.55, with 4,340 shares, Caribbean Cream ended trading with a loss of $1.30 to $4.50, with 17,648 shares changing hands, Caribbean Flavours traded at $11, with 4,000 stock units, Caribbean Producers finished trading at $5, with 1,420 units. Elite Diagnostic settled with a loss of 24 cents at $3.19, with 97,662 units, Express Catering traded with a loss of 5 cents at $5.25, with 92,624 shares, FosRich Group finished trading 15 cents higher at $2.55, with 17,000 units, General Accident closed 5 cents higher at $3, with 167,500 stock units. Honey Bun concluded trading 2 cents higher at $4.42, with 5,895 shares, ISP Finance settled with a loss of 1 cent at $14.99, exchanging 933 shares, Jamaican Teas ended trading at $5, with 80,444 stock units, Jetcon Corporation traded at $4.15, with 35,793 units. Knutsford Express ended $1.52 higher at $14, with 4,907 shares, Lasco Financial finished with a loss of 8 cents at $5.20, trading 136,497 units, Lasco Manufacturing settled 1 cent higher at $4, with 137,622 shares, Main Event ended trading 5 cents higher at $6.05, with 11,963 shares. Paramount Trading ended at $3.10, with 47,094 stock units changing hands and Stationery and Office closed at $6, after trading at an intraday record high of $6.20 with 177,063 units. In the Junior Market preference segment, Eppley ended with a loss of 25 cents at $6, trading 11,000 stock shares.
Prices of securities trading for the day are those at which the last trade took place.

SOS writing book manufacturing starts May

Stationary and Office Supplies – Montego Bay offices.

Stationery and Office Supplies (SOS) purchase of equipment used to manufacture various types of writing books as well as the brand name SEEK.
“This purchase will allow SOS to enter the manufacturing industry in Jamaica starting with books and a plan to continue to manufacture other stationery products in the future”, SOS states.
Machinery purchased includes the following: Ruling machines, Guillotines, Gluing Machines, Stapling Machines and Book Presses.
The total value of the purchase is $60 million and is being financed through a bond with Jamaica National amounting to $80 million at an interest rate of 8 percent, and a duration for repayment of 7 years. The company expects that the total investment including machinery, raw materials and renovations will exceed $80 million. The Company said with this expansion, SOS initially be employing an additional 25 persons with production expected to start during the first week of May 2018. Prior to the acquisition a compliment of 40 persons were employed with a mixture of full time and part timers.  Revenues expected in the first twelve months is estimated at $130 million but could rise beyond this, as the business maintains most of the customers for books and SOS leverage their existing customers base and others for  more business. According to Allan McDaniel, Deputy Managing Director & Director of Warehousing and Logistics, the previous owner operated for about six months per year, but SOS will be able to operate full time and at less cost. The operation will be housed in the adjoining building they acquired last year and effectively fills out the space with their expanded inventories occupying about half. Profit margin is attractive and will almost ensure that the company will profit from it, this year, with growth estimated by them to likely be in the 30 percent region coming from both local and export sales. The new operation could deliver around $40 million to profit in 2018 and around $70 million in 2019, IC Insider.com estimates.  Speaking about SOS operations, McDaniel would only say they are happy with the first quarter, that was helped by an increased inventory, now around $170 million compared to $117 million in March last year, just ahead of the public share offer. McDaniel said that while some of the fellow businesspersons are talking about a weak first quarter, SOS expects to report continued growth.

The company’s stock ended at a record close of $6 on the Junior Market of the Jamaica Stock Exchange on Tuesday gaining 200 percent since it was listed in August last year.

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Stationery & Office at record close – Monday

SOS ended at a record close on Monday & poised to go higher.

Stationery and Office (SOS) ended trading at a record closing high of $6 on Monday, even as Investors cut the prices of the majority of Junior Market stocks.
SOS price hit $6 for the second time since listing in August last year but it is the first time that it closed at the high. The stock has broken out of a narrow trading channel that is was in since November last year. New resistance is just above the latest closing price. The move higher was greeted by aggressive buying shortly after the market opened on Monday and ended with a bid at $6.
At the close of market activities, 24 securities changed hands compared 19 securities changing hands on Friday leading to declines in the prices of 15 and gains in only 4, while 5 remained unchanged. The Junior Market Index dropped 49.71 points to close at 2,905.95. Trading ended with an exchange of 1,793,298 units valued at $7,093,168 compared with 1,167,347 units valued at $4,190,359.
Market activity ended with an average of 74,721 units for an average of $295,549 compared to an average of 61,439 units for an average of $220,545 on Friday. The average volume and value for the month to date, amounts to 147,346 units at $595,413 compared to 156,870 units at $634,740 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 7 stocks ending with bids higher than the last selling prices and 5 with lower offers.
At the close of the market, Caribbean Cream ended trading with a loss of 15 cents at $5.80, with 8,400 shares, Caribbean Flavours traded with a loss of 50 cents at $11, with 9,100 stock units, Caribbean Producers finished trading with a loss of 50 cents at $5, with 137,779 units, Consolidated Bakeries closed with a loss of 5 cents at $1.95, with 19,158 shares, Derrimon Trading concluded trading 7 cents higher at $9, with 9,343 shares. Elite Diagnostic settled 4 cents higher at $3.43, with 303,573 units, Eppley ended trading with a loss of 9 cents at $9.51, with 288 shares, Express Catering traded at $5.30, with 2,639 shares, FosRich Group finished trading at $2.40, with 11,040 shares. General Accident closed with a loss of 5 cents at $2.95, with 229,895 stock units, GWest Corporation ended with a loss of 59 cents at $2.50, with 179,700 units, Honey Bun concluded trading with a loss of 35 cents at $4.40, with 6,500 shares, Iron Rock finished at $3, with 109,700 shares. Jamaican Teas ended trading with a loss of 16 cents at $5, with 750 stock units, Jetcon Corporation traded at $4.15, with 18,938 units, KLE Group closed with a loss of 5 cents at $2.45, with 11,500 shares, Knutsford Express ended with a loss of 1.52 cents at $12.48, with 850 shares. Lasco Distributors concluded trading $4.02 higher at $4.02, with 160,040 stock units, Lasco Financial finished with a loss of 2 cents at $5.28, with 8,970 units, Lasco Manufacturing settled with a loss of 1 cent at $3.99, with 271,118 shares, Main Event ended trading with a loss of 4 cents at $6, with 14,067 shares. Medical Disposables traded at $5.10, with 7,400 shares, Stationery and Office closed 48 cents to a record closing high of $6, with 267,550 units and tTech concluded trading 5 cents higher at $5.80, with 5,000 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.

Junior Market retreats – Friday

The Junior Market declined by 4.35 points to close at 2,955.66 on Friday after only 5 securities advanced, 9 declined and 5 remained unchanged.
At the close of market activities, 19 securities changed hands compared 23 securities changing hands on Thursday. Trading ended with an exchange of 1,167,347 units valued at $4,190,359 compared with 2,784,726 units valued at $12,698,406.
Market activity ended with an average of 61,439 units for an average of $220,545 compared to an average of 121,075 units for an average of $552,105 on Thursday. The average volume and value for the month to date, amounts to 156,870 units at $634,740 compared to 167,926 units at $682,726 on the prior trading day. March closed with an average of 149,999 units valued at $623,819, for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows just 4 stocks ending with bids higher than the last selling prices and 9 with lower offers, suggesting continuation of fluidity in price changes.
At the close of the market, AMG Packaging ended trading with a loss of 10 cents at $2, with 286,794 stock units changing hands, Caribbean Producers declined by 10 cents to $5.50, with 2,908 units, Consolidated Bakeries closed at $2, with 9,542 shares, Derrimon Trading climbed 41 cents to close at $8.93, with 25,100 shares trading, Elite Diagnostic settled with a loss of 9 cents at $3.39, while exchanging 384,979 units. Express Catering closed at $5.30, with 1,000 shares changing hands, FosRich Group finished trading with a loss of 3 cents at $2.40, with 70,133 shares, General Accident closed at $3, with 5,000 stock units, Honey Bun concluded trading 15 cents higher at $4.75, with 12,000 shares. Iron Rock finished at $3, with 50,000 shares, ISP Finance settled at $15, with 24,179 shares, Jetcon Corporation traded 4 cents higher at $4.15, with 41,580 units, Knutsford Express ended with a loss of 40 cents at $14, trading 3,959 shares. Lasco Distributors settled $4.05 higher at $4.05, with 84,500 shares, changing hands, Lasco Financial concluded trading with a loss of 20 cents at $5.30, with 2,289 stock units, Lasco Manufacturing finished with a loss of 2 cents at $4, exchanging 86,615 units, Paramount Trading traded 5 cents higher at $3.10, with 24,350 shares, Stationery and Office rose 2 cents to $5.52, with 41,800 stock units and tTech ended with a loss of 5 cents at $5.75, with 10,619 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.