BJM PCS named Atterbury’s OTC share-trading agent

Barnard Jacobs Mellet Private Client Services (BJM PCS), the stock-broking and wealth management company, has been appointed by Atterbury Investment Holdings to act as its agent in share transactions among existing shareholders.

In addition, Atterbury will be adopting the BJM PCS OTC share-trading platform software – a proven proprietary solution for facilitating efficient, transparent and cost-effective share trading at private companies.

Atterbury Investment Holdings is a property investment company whose overall objective is to invest in the most sought-after business nodes in South Africa’s major metropolitan areas as well as in selected offshore opportunities. The value of total assets tops R6 billion, a tenfold increase since inception of the fund in 2005.

Among assets (directly or indirectly held through investments) in the Atterbury Investment Holdings’ portfolio are 1.45m² million development rights of Waterfall City, Investec regional head office and Kumba Head Office in Pretoria, Great Westerford and Atterbury House (previously known as Shell House) in Cape Town, Clearwater Mall in Roodepoort, Design Square, Woodlands Boulevard, Garden Route Mall in George and Hampton Office Park in Bryanston, to name a few.

Share transactions among existing shareholders were previously conducted by Atterbury itself. Atterbury has opted for the OTC trading to get an exposure to a bigger investor market.

BJM PCS stockbroker Etienne Nel commented: “We have offered OTC share-trading facilitation for nearly 10 years. Our software is well proven and has been adopted by numerous large privately owned companies, including Senwes, Capespan and Clover.

“We are delighted to carry out arm’s length agency duties for a company of the stature of Atterbury Investment Holdings. We have been given a standard brief obliging us to act in the best interest of each transacting party while creating a transparent transactional history.

“In this way we enable outside investors that were not aware of investment opportunities in AIH, the opportunity to acquire equity in the company, thereby broadening the investor base and simultaneously removing the considerable administrative burden that was previously shouldered by Atterbury’s in-house systems.”

OTC transactions via the BJM PCS service commence on September 1, 2009.

Morne Wilken, Chief Operating Officer at AIH, noted: “The BJMPCS software is reliable, efficient and has been proven over many years by a blue-chip client-base. In addition, the company has an irreproachable reputation for fair dealing and integrity. They are leaders in this specialised field and we are excited to have them act on our behalf.”