One on One announced today that 2 of its directors have completed trades to increase their equity holding in the company.
The trades, which were completed on Monday, February 13, had a transaction value of J$37.5 million from the sale of a total 30 million shares.
Ricardo Allen, One on One’s CEO, through his holding company, Soho Investments, acquired 15 million ordinary shares to bring his total equity stake in One on One to just under 24 percent, while John Bailey, through his holding company, Jorden Investments, also acquired an additional 15 million shares, to bring his total equity stake in the company to just under 9 per cent. These transactions will give both directors an increased interest in the growth and success that One on One has already achieved and is set to improve upon with its dynamic business offerings.
Allen believes that One on One has shown tremendous growth and potential in its first quarter results since its listing on the Junior Market of the Jamaica Stock Exchange (JSE). The company continues to demonstrate an ability to be creative and innovative in delivering a high level of support to Jamaica’s and the region’s education sector. Through existing partnerships with agencies such as the Ministry of Education locally and the Department of Education in the Bahamas, as well as international alliances, such as that with Community Services Foundation (CSF), One on One is poised to access significant opportunities here and abroad. The company also has contracts outside of the education sector, with government agencies as well as corporate entities.
On a recently hosted Earnings Call discussing the company’s first quarter results, Allen indicated that one of the company’s key strategic focus areas for the remainder of this year will be the development of its content agency. To this end, the team has already acquired just under 4,000 square feet of space where it will look to build out studios to host instruction sessions and otherwise produce content to support its other product offerings, such as its Classroom in a Box as well as its Award-Winning Leaning Management System (LMS).
Allen said, “Obviously as the leader of the organization, I see the tremendous value that the team has been able to create here. We would also have line of sight as it relates to the growth journey we about to embark on. With that being said, we believe that the current share price is low, and we will take the opportunity to purchase shares on the market as they become available at this price.
“We have some excellent growth initiatives ahead, and we look forward to executing on these and sharing them with our valued stakeholders when the time comes”.
Other members of the One on One Board of Directors are Michael Bernard, who serves as Chairman, Dr Carol Grandston, Karen Vaz, Mischa McLeod-Hines, Nicole Foga, and Tyrone Wilson.
About One on One
One on One, which began operations in 2013, provides customized e-learning solutions for government agencies, corporates, and individuals alike to educate, upskill and train through the company’s award-winning LMS. Over the years, the One on One Team has provided digital learning solutions for over 150,000 learners through its easy-to-use platform.
The company is headquartered in Kingston.
