Jamaica Estates Aims for Survival

Jamaica Estates (JAM : ISE) has seen a whirlwind month since the October 27th announcement of the change in Openspace Pricing, but CEO Rodders Holgado is not ready to throw in the towel just yet.

"Well the battle continues. We have experienced a large amount of abandonements, interestingly some from people with up to two weeks still to run, it would appear that LL's new policy is taking effect already. The next 2-4 weeks are critical and will probably determine JAMs survival, with way." Holgado said in today's press release. "We have applied to have 4 Open Spaces coverted to a sim. LL new policy will make sims more popular again. Hopefully LL will be quick to do this, but if they're not it could be the last nail in the coffin. Then our ability to fill it will determine our survival. I will lower the prices to near breakeven at first, and then go from there. I quick fill and maximum occupancy will mean that I repeat the process for other Open spaces and our survival chances will be higher, there's even a chance that come June next year we may return to our glory days or high dividends."

JAM(ISE) has been trading since March, with a total of L$0.42 in dividends paid out over 16 payments for a 6DYA(6-Month Dividend Yield Average) of L$0.041667. JAM(ISE) is trading far below it's average share price of L$1.81, hovering near the L$0.50 mark.