Major Shareholders of Derrimon and CP Sell Significant Portions of their Holdings

There was some heavy connected party trading last week on the Junior Market of the Jamaica Stock Exchange.

Major shareholders of Derrimon Trading Company and Caribbean Producers Jamaica sold off significant portions of their holdings.

In the case of Caribbean Producers Jamaica, a connected party sold a hundred and 11-million shares with an estimated value of over $360-million.

This, based on the closing price of $3.29 on June 12 when the trade was executed.

According to Businessuite Magazine, the Executive Chairman, Mark Hart with an 80-percent controlling stake is the likely seller.

This, given his holdings of 880-million units, valued by the 2017 Skin Index at $2.9-billion.

The Businessuite 2017 Skin Index is a measure of the stock holdings of executives and directors of listed companies.

Meanwhile, Derrimon Trading Company sold nearly 9-million units of Caribbean Flavours and Fragrances Limited on Monday, with an estimated value of $115-million based on the closing price of $12.75.