Christopher Berry, chairman of Mayberry Investments Limited. - File

Christopher Berry, the top shareholder in the family controlled brokerage Mayberry Investments Limited, has transferred his entire holdings in the company to a new vehicle, but the company said the move has not affected the ownership structure.

On Wednesday, in a stock market transaction, Berry traded 427,496,875 shares, representing "all his equity holdings" in Mayberry.

Brokers said the trade was effected at $2.55 per unit, which would put the value of the transaction at $1.09 billion.

The stock closed trading up eight cents at $2.60, but dropped five cents of its value Thursday to end at $2.55.

"Our chairman has decided to restructure all of his equity holdings in Mayberry Investments Limited in order to take advantage of other opportunities which may arise from time to time," said a statement from the brokerage, a day after the transaction.

"The transfer of shares does not represent a beneficial change of ownership of any of his holdings."

Berry did not return calls for comment.

Transfer

The notice was specific that the transfer related to all of Berry's shares, which suggests that he would have had a net reduction in position since December 31, when the company's annual report listed his holdings at just under 429.5 million shares, more than a million above the holdings of his brother Mark Berry.

Additionally, a review of information filed with the Jamaica Stock Exchange since January, indicates that Berry had acquired another 4.8 million shares.

The transaction on Wednesday represented just under 36 per cent of issued shares. The company's market cap currently tops $3 billion.

business@gleanerjm.com