JM | Feb 21, 2023

One on One directors increase shareholding ahead of expansion

/ Our Today

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Jamaican e-learning solutions provider, One on One announced that two of its directors, CEO Ricardo Allen and fellow director John Bailey have acquired 15 million shares each, bringing their total equity stakes to just under 24 per cent and nine per cent respectively.

The trades were completed on Monday (February 13), with a transaction value of J$37.5 million.

According to Allen, 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 be creative and innovative in delivering a high level of support to Jamaica’s and the region’s education sector.

Ricardo Allen, CEO of One on One (Photo: Contributed)

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.

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 are 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.”

John Bailey, director at One on One (Photo: Contributed)

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. The team has already acquired 112 square feet of space where it will look to build out studios to host instruction sessions

“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,” he continued.


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