Marcus James

Access almost private again

June 6, 2015 by IC Insider.com

Proven upped its stake in Access in May, leaving few shares in the public’s hands.

Access Financial Services is virtually a private company again with Proven Investments having increased their stake in the junior market company and with the founder and Chief executive Officer having a large block. There is less than ten percent of the shares in public’s hands now.
On May 18, Proven acquired an additional 1,249,608 shares in Access Investments, thereby increasing its interest to 49.72 percent. In December last year, Proven bought 135,339,271 units in the financial micro lender when it picked up most of the shares held by Mayberry at the time, at a price of $9. in the latest audited report for Proven, Access is listed as a subsidiary of Proven. Normally, owning less than 50 percent plus one share in a company would result in a company being a subsidiary and less down to 20 percent, would qualify as an associate.
The stock has been trading recently at $17 each, with Access having reported improved results for the March quarter increasing by 72 percent to $157.6 million, up from $79 million in 2014. Marcus James in March this year transferred his 112,421,260 units to a company representing 41.6 percent of the issued shares leaving just under 9 percent in the public’s hands.

Filed Under: Company News, General Business News Tagged With: Jamaican Stock, Marcus James, Proven

Access’ $1b trade

March 2, 2015 by IC Insider.com

Access was the dominant trade in the entre stock market on Monday as Marcus James CEO of the company and the shareholder with the second largest holding, moved his shares in the company into a new name IC Insider was reliably advised. There was just one traded in the stock with 112,421,260 units trading at $9.60 with a value of $1.079 billion to record a 20 cents gain.
Only two other securities traded in the junior market by the close. Overall 2 stocks gained and one remained firm, at the close. The market closed with 317,720 units changing hands valued at $662,455. The JSE Junior Market Index declined 11.41 points to close at 699.35, with the prices of stocks advancing and 3 declining.
At the close of the market, there were 3 stocks with bids higher than their last selling prices and 2 stocks with offers that were lower. The junior market ended with 4 securities closing with no bids to buy and 6 securities that had no stocks being offered for sale. Online casino 1Win International is expanding its geography and is now available throughout Latin America. The interface is also available in Spanish and Portuguese. Hurry up to get bonuses for the first users!
Stocks trading in the junior market with gains are, General Accident finishing with 173,762 shares trading at $1.70 and Lasco Distributors closing with 43,000 shares to end with an increase of 1 cents to $1.46.

Filed Under: JSE Junior Market, Stock Market Tagged With: General Accident, Jamaican Stock, Lasco, Marcus James

JSE set to close out 2014 up

December 30, 2014 by IC Insider.com

Trading on the Jamaica Stock Exchange should end the year on a positive note as there was far more stocks closing with higher bids than those that had lower offers at the close on Tuesday, suggesting that the majority of stocks trading should enjoy increased prices.
The major shares in Access Financial Services changed hands on Tuesday in trading on the stock exchange junior market as Mayberry sold out its holdings to Proven Investments. Mayberry who had expressed a desire to sell as a result of the dispute with the founding shareholder Marcus James finally did so, resulting in a billion profit on their investment. Overall trading in the market, resulted in the prices of 7 stocks rising and 10 declining as 27 securities changed hands, ending in 141,314,531 units trading, valued at $1,232,287,766, in all market segments.
IC bid-offer Indicator| At the end of trading, in the main and junior markets, the Investor’s Choice bid-offer indicator shows 14 stocks with bids higher than their last selling prices and only 4 stocks with offers that were lower, this suggest that for the final trading day of the year the majority of prices should rise.
Main Market| The JSE Market Index gained 535.67 points to 76,728.87, the JSE All Jamaican Composite index rose 598.90 points to close at 84,504.74 and the JSE combined index gained 459.99 points to close at 78,545.68.
Gains| Stocks recording gains with their last traded prices, at the end of trading in the main market are, Berger Paints trading with 395,929 shares and gained of 30 cents to end at $1.85, Grace Kennedy ended with 2,500 shares changing hands to close $1 higher at $63. National Commercial Bank closed with 5,792 shares trading with a gain of 5 cents, to $18.50, Pan Jamaican Investment finished with 5,500 shares changing hands, to close 3 cents higher at $59.95. Sagicor Real Estate Fund ended with 500 shares changing hands to close with a gain of 11 cents to $7.11 and Scotia Group ended trading with 85,919 shares changing hands to close 40 cents higher at $20.40.
Firm| The stocks in the main market to close without a change in the last traded price are, Desnoes & Geddes finishing with 47,000 shares at $5, Jamaica Broilers ended with 25,000 units trading at $4.01, Jamaica Money Market Brokers completed trading with 21,446 ordinary shares at $7.10. Kingston Wharves ended trading with 450 shares changing hands to close at $6, Supreme Ventures finished trading with 3,017,931 shares changing hands to close at $1.90.
Declines| The last traded prices of stocks with losses at the close of the main market are, Cable & Wireless that ended trading 1,643,333 shares changing hands, to close 2 cents lower at 48 cents. Caribbean Cement closed trading with 13,877 units, the price slipped 4 cents to $2.41, Hardware & Lumber finished with 4,000 units trading as the price fell 49 cents to $7.51, Jamaica Producers closed with 186,050 shares trading lower by 25 cents lower to $17.25. Proven Investments ended with 185,920 shares trading at 0.23 cents lower at 18.77 US cents, Sagicor Group closed with 15,400 shares changing hands at 50 cents lower at $10 and Scotia Investments finished with 6,050 shares trading at 40 cents lower at $23.
Preference| Jamaica Money Market Brokers 8.75% preference share had 10,000 shares changing hands to close $3, Jamaica Money Market Brokers 7.50% preference share traded 49,550 shares at $2 and Proven Investments 8% preference share traded 300 shares at $5.20.