Share Name Share Symbol Market Type Share ISIN Share Description
Jarvis Securities Plc LSE:JIM London Ordinary Share GB00BKS9NN22 ORD 0.25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 285.00 7,379 08:00:00
Bid Price Offer Price High Price Low Price Open Price
280.00 290.00 285.00 285.00 285.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 13.34 6.87 12.71 22.4 127
Last Trade Time Trade Type Trade Size Trade Price Currency
11:46:24 O 700 286.80 GBX

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Date Time Title Posts
20/9/202119:42JIM - JARVIS SECURITIES PLC - Online Broker2,593
05/8/202121:36good investment2
28/7/201710:16jim interest-
21/11/201514:02THE ZULU PRINCIPLE 2003-4 - JIM SLATER STOCKS229
16/6/201014:15Stockbroker with Newspaper deal1

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Jarvis Securities Daily Update: Jarvis Securities Plc is listed in the General Financial sector of the London Stock Exchange with ticker JIM. The last closing price for Jarvis Securities was 285p.
Jarvis Securities Plc has a 4 week average price of 275p and a 12 week average price of 242.50p.
The 1 year high share price is 367.50p while the 1 year low share price is currently 170p.
There are currently 44,731,000 shares in issue and the average daily traded volume is 29,791 shares. The market capitalisation of Jarvis Securities Plc is £127,483,350.
maddox: JIM offer a plain vanilla product in order NOT to compete with their clients and their added-value services. By focussing on the non-differentiated services it makes sense for firms to out-source these to JIM. JIM can then offer the scale-efficiencies they accrue from operating on behalf of many other firms back in keener pricing.
cfro: You might be a little harsh with your critique of JIM perhaps. As long as they are gaining new customer accounts and seeing increasing trading volumes, does it matter too much if, as you say "website designed on a BBC Micro"? As a general observation you would be surprised just how many investors still prefer to use the telephone to trade. It doesnt really matter how a trade is made whether by phone, website or mobile app, the important point is simply just being able to trade which way the individual wants and is convenient to them. Plus its worth remembering that JIM is much more than a stock broker. Take Primary bid for instance. It's only going to grow and grow into the future and JIM's business relationship with them so too.
thetrotsky: Anybody got an idea what's happened to the share price today? Down about 8%. Is this a delayed reaction to HL's results yesterday and it's CEO's comments on its future outlook or is there something else afoot? The share price started to drop before the third quarter dividend was announced; so it can't simply be disappointment that the dividend is 3.5p, rather than 4p, surely?
melton john: Twenty years ago, the broker I used was taken over by CS. I still spoke to the same man for a while but I was just a newbie and their rates were geared to wealthy investors. You needed a £400k portfolio to get any advice and execution only still cost a lot. They were the only one making money from my investing so I moved to Jim, a company I had a small stake in. Jim don't do wealth management and are only just getting a toe hold in corporate finance whereas CS have moved down to include on-line dealing. I could envisage a predator being interested in JIM for the large client base, a lot of whom have been attracted from other brokers and some for whom JIM is their first broker.
cwa1: Small snippet from Stockopedia from last Thursday:- My opinion - this looks terrific! Thank you to readers who flagged it up in the comments. A very high quality business, growing strongly, at a reasonable price. What’s not to like?! Providing profits are sustainable, then the big rise in share price looks fully justified, and could continue maybe? Although as with many other shares, profit-taking seems to have set in in the last couple of months. I see that as a healthy market correction, and it provides a buying opportunity in quality companies like this, in my view.
exv: Squeamish, I agree with you on the mechanics. The shares were on JIM's balance sheet and although they weren't technically cancelled, represented an investment in JIM itself(so each other shareholder's pro-rata ownership was a little bit higher). Selling them out is akin to issuing new shares. I also agree that the communication was somewhat lacking. They don't need the cash, obviously. My view is that cancelling the shares - which would have been my preference - is not Grant's preference because of his dominant ownership. Both because he wants to increase the liquidity of the company - but that of course, is unchanged whether they are retained or cancelled - but also perhaps because there are issues with cancellation given it increases the Grant's family's effective ownership. I know things get a little more complicated re: cancelling shares when there are dominant shareholders - there are protections in place to avoid 'takeovers by the back door'. And if you think about it from Grant's perspective, he perhaps thought "let's simply avoid all that hassle by selling the shares, improving trading liquidity - something people always complain about - and then we all get the money back via dividend after it's done." Or maybe Grant just wants some liquidity, and would prefer to do it this way rather than cancelling the shares and having to sell some of his - which sends a signal all of its own. I doubt this was a very expensive exercise given their fanatical cost control elsewhere, and their relationship with PB, so my usual conerns are assuaged a bit here. I would also read something into the fact that this offer was entirely Primary Bid related. No institutional perks. That is decidedly 'non-standard', and when anything is non-standard, it deserves some pondering. My view is that JIM saw there were ancillary benefits to having more reatil shareholders - better liqudity again being the obvious one, as well as potentially future Jarvis and Primary Bid clients. The acquisition cost of a stock broking customer is pretty high. If they only signed up a few new clients, that's a big win. Jarvis's relationship with Primary Bid also means they have a stake in its success. To all of this you might rightly say - "interesting opinion, but just that - an opinion". And you would be right. I am guessing at motivations here, and I would like to see the company being a bit more open with their reasoning and intentions. Grant has always treated minority shareholders very well in every respect and I have a great deal of trust that he will continue to do so, but I can't really see a downside to being a bit more open about why they are doing things. If Grant's view is "I'm own most of this business and this is better for me tax-wise so like it or lump it" I would both understand and not particularly care. This is a great, founder-led business, and that means some of the corporate decisions might be a little different from your average, corporate CEO type business. You take the smooth with the rough when you buy the shares. But all good relationships are built on communication!
melton john: Looking at recent announcements 898100 shares were left in treasury after the sale to satisfy Drip requirements. This matches exactly the number sold yesterday. Share buybacks have two purposes, to signal to outsiders that the directors know what the shares are worth and to use spare cash to increase the share price and ward off a hostile takeover with a low share price and a shed full of cash.
evaluate: PrimaryBid Offer Notice of General Meeting Proposed Capital Reduction Jarvis ( LON : JIM ), the AIM quoted stockbroking, administration services and solutions provider , is pleased to announce, a conditional offer via PrimaryBid (the "Offer") of up to 898,100 ordinary shares of 0.25p each in the Company currently held in treasury ("Treasury Shares" or "Ordinary Shares") at an issue price of 250 pence per Ordinary Share (the "Issue Price"), being a discount of 8.76 per cent to the closing mid-price on 7 April 2021. The Offer is subject to shareholder approval at a General Meeting of the Company to be held on 4 May 2021 (more details of which are set out below). Settlement for the PrimaryBid Offer is expected to take place on 5 May 2021. The Treasury Shares, once sold pursuant to the Offer (and subject to shareholder approval), will be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid in respect of the Ordinary Shares. The Treasury Shares will be free of any encumbrances, liens or other security interests. Offer The Company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the Offer by applying through the PrimaryBid mobile app available on the Apple App Store and Google Play along with the Jarvis platforms. PrimaryBid does not charge investors any commission for this service. The Offer is now open to individual and institutional investors and will close at 9 p.m. on 7 April 2021. The Offer may close early if it is oversubscribed. The Company in consultation with PrimaryBid reserves the right to scale back any order at its discretion. The Company and PrimaryBid reserve the right to reject any application for subscription under the Offer without giving any reason for such rejection. No commission is charged to investors on applications to participate in the Offer made through PrimaryBid. It is vital to note that once an application for Ordinary Shares has been made and accepted via PrimaryBid, an application cannot be withdrawn. For further information on PrimaryBid or the procedure for applications under the Offer, visit www.PrimaryBid.com or call PrimaryBid.com on +44 20 3026 4750. The Ordinary Shares will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the Company's existing Ordinary Shares. Details of the Offer The Company highly values its retail investor base which has supported the Company alongside institutional investors over several years. Given the longstanding support of retail shareholders, the Company believes that it is appropriate to provide retail and other interested investors the opportunity to participate in the Offer. The Offer is offered under the exemptions against the need for a prospectus allowed under the Prospectus Rules. As such, there is no need for publication of a prospectus pursuant to the Prospectus Rules, or for approval of the same by the Financial Conduct Authority in its capacity as the UK Listing Authority. The Offer is not being made into any Restricted Jurisdiction or any other jurisdiction where it would be unlawful to do so. There is a minimum subscription of GBP100 per investor under the terms of the Offer which is open to existing shareholders and other investors subscribing via PrimaryBid.com. Any investment request in excess of GBP50,000 will require the Company's consent and may be subject to scale back. For further details please refer to the PrimaryBid.com website at www.PrimaryBid.com . The terms and conditions on which the Offer is made, including the procedure for application and payment for Ordinary Shares, is available to all persons who register on the PrimaryBid mobile app. Dispatch of Circular As set out above, completion of the Primary Bid offer is subject to shareholder approval which is to be sought at an upcoming general meeting of the Company. The Company intends to dispatch a shareholder circular on 9 April 2021 and a copy with be available on the Company's website ( www.jarvissecurities.co.uk ) from that date. The proposed date for the General Meeting is 9am on 4 May 2021. In light of the UK Government's measures introduced in response to the COVID-19 outbreak, including advice to avoid public gatherings and all non-essential travel and social contact, the Board has made the decision that the General Meeting will be held as a closed meeting. This means that the General Meeting will be convened with the minimum quorum of Shareholders as is required to conduct the formal business of the General Meeting. As such, for the safety and security of all involved, Shareholders and their proxies will be unable to attend the General Meeting in person. Shareholders should not seek to attend the meeting in person and entry to the meeting will be refused to anyone who does try to attend. Shareholders are therefore strongly advised to appoint the Chairman of the General Meeting as their proxy to ensure that your vote is counted. All resolutions will be taken on a poll. Further information will be contained in the Circular and notice of General Meeting. Proposed Capital Reduction The Circular which will convene the General Meeting of the Company to approve the Offer will also seek to undertake a capital reduction. This is not connected to the Offer. Share premium forms part of the capital of the Company which arises on the issue by the Company of Ordinary Shares at a premium to their nominal value. The premium element is credited to the share premium account. Under the Companies Act 2006, the Company is generally prohibited from paying any dividends or making other distributions in the absence of positive distributable reserves, and the share premium account, being a non-distributable reserve, can be applied by the Company only for limited purposes. However, provided the Company obtains the approval of shareholders by way of a special resolution and the subsequent confirmation by the Court, it may reduce all or part of its share premium account and the amount by which the share premium account is cancelled is credited to the Company's distributable reserves. The Company is therefore seeking the approval of the shareholders at the General Meeting to cancel its share premium account in its entirety. If approved by the shareholders, the cancellations will require subsequent approval by the Court. The Capital Reduction has no impact on the ability of the Company to pay its debts. Court Approval If the Capital Reduction is approved by Shareholders, an application will be made to the Court in order to confirm and approve the Capital Reductions. It is anticipated that the initial directions hearing in relation to the Capital Reduction will take place on 18 June 2021, with the final Court hearing taking place on 29 June 2021 and the Capital Reduction becoming effective on the following day, after the necessary registration of the Court order with the Registrar of Companies has taken place. Shareholders should note that the Capital Reduction will not involve any distribution or repayment of capital or share premium by the Company and will not reduce the underlying net assets of the Company. The distributable reserves arising from the Capital Reduction will, subject to the terms of any undertakings required by the Court as explained above, enable the Company to pay dividends or (if the Shareholders give appropriate authority in the future) buy-back Ordinary Shares in the future. The Board reserves the right to abandon or to discontinue (in whole or in part) the application to the Court in the event that the Board considers that the terms on which the Capital Reduction would be (or would be likely to be) confirmed by the Court would not be in the best interests of the Company and/or the Shareholders as a whole. The Directors have undertaken a review of the Company's liabilities (including contingent liabilities) and consider that the Company will be able to satisfy the Court that, as at the date (if any) on which the Court order relating to the Capital Reduction and the statement of capital in respect of the Capital Reduction have both been registered by the Registrar of Companies at Companies House and the Capital Reductions therefore become effective, the Company's creditors will be sufficiently protected. Following the Capital Reductions, the Company will continue to meet the statutory requirement of having GBP50,000 minimum nominal value of issued share capital. If the proposed Capital Reduction is approved by the Court, the Company will increase its positive retained earnings allowing for further dividends to be paid by the Company in the future, should circumstances at the time make it desirable to do so. In assessing any future decision to declare dividends, the Board will take account of all relevant circumstances existing at the time and any such decision will be taken only after careful analysis of the Company's financial position, the Company's strategic plans and the prevailing economic and commercial conditions affecting the Company's business and prospects. Following the implementation of the Capital Reduction, there will be no change in the number of Ordinary Shares in issue. Further information on the Capital Reduction will be set out in the Circular. Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice. It should be noted that a subscription for Ordinary Shares and investment in the Company carries a number of risks. Investors should consider the risk factors set out on PrimaryBid.com before making a decision to subscribe for Ordinary Shares. Investors should take independent advice from a person experienced in advising on investment in securities such as the Ordinary Shares if they are in any doubt. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com .
tenapen: Https://markets.ft.com/data/indices/tearsheet/summary?s=FTSE:FSI Trade Volumes are still good !. With the JIM share price going higher ! its moments like this that make me thankfull i have been taking the DRIP for all of these years. If i'd taken the cash i would have lost it on one of my Jam tomorrow shares. Loving the DRIP :-) Regards.
fokker45: I think this article from S Thompson @ IC went live after close today, but I saw a significant rise from 1400 on Friday, exactly the same time as I cleared off for a walk. If anybody does know what time went live would appreciate it. I know IC moves JIM price, want to know if that was due move today or if Monday will likely open higher. Jarvis’s profit surge highlights re-rating potential 2020 pre-tax profits ahead of upgraded forecasts. No sign of organic growth slowing. Full-year results from Jarvis Securities (JIM:260p), a financial services outsourcer and retail client stockbroker, highlight why I suggested buying the shares at 115p (‘Jarvis offers medium-term value’, 15 August 2018). Annual pre-tax profit and EPS surged 43 per cent to £6.9m and 12.7p, respectively, on 27 per cent higher revenue of £13.3m, the key drivers being: higher trading volumes from 100,000-plus retail clients who use Jarvis’s ShareDeal-Active and X-O low-cost online share trading services; and ongoing demand from pension funds and wealth managers looking to make cost savings by outsourcing their financial administration services to the company’s corporate division. The result was slightly ahead of WH Ireland’s forecasts, and that’s after the house broker pushed through multiple upgrades in the past 12 months. Jarvis asset-light business model generated an eye-watering post-tax return on equity of 128 per cent and is hugely cash generative, so a high percentage of net profits are paid out as dividends. Adjusting for the 3.75p a share special dividend in 2019, the ordinary dividend per share increased 69 per cent to 11.1p in 2020 to take the total to 27.75p since I initiated coverage in 2018. Even after upgrading 2021 profit estimates by 8 per cent ahead of the results, WH Ireland views its revenue, pre-tax profit and EPS forecasts of £13.8m, £7.4m and 13.7p as conservative. I concur. Trading volumes started 2021 from a higher run rate than a year ago, and Jarvis has a “healthy pipeline” of new opportunities on the corporate side. A 50 per cent operating margin looks sustainable with both revenue and profits skewed to the upside. The shares are up 30 per cent since my last update (‘Six small-cap value picks’, 16 November 2020), and trade on a forward price/earnings (PE) ratio of 19 and offer 4.6 per cent prospective dividend yield. I am raising my fair value to 300p. Buy.
Jarvis Securities share price data is direct from the London Stock Exchange
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