Insiders have been selling Jamaica Money Market Brokers (JMMB) shares in fairly large quantities this year, even as the company’s fortunes seem to be bright.
JMMB advised the Jamaica Stock Exchange that a related party sold 5,000,000 of the group’s shares on October 10, 2014. On September 18, this year a connected party also sold 1,000,000 of the Group’s shares.
In March this year CEO Keith Duncan was reported to be telling investors in Trinidad: “If ever there was a time to get excited about JMMB Group’s performance prospects, that time is now!” but while he was telling the Trinidad investors this, persons close to Jamaica Money Market Brokers were continuing to sell shares in the company.
Earlier in the year, five related parties sold a total of 9,663,800 JMMB shares during the period March 17-18, 2014 but that is not the only sale of large amounts around that time. A connected party sold 1,500,000 of the shares on March 4, 2014. A Director sold a relatively small amount of 31,146 JMMB shares on March 11, 2014 but there was a big sell out of 19,464,448 shares on February 17, 2014.