First Half Report 2012 Overview Following the performance of the 1st Quarter, trading activity continued to be characterized by decreases in both the total trading volume and total trading value, as illustrated in Table 1, when compared to the corresponding period in 2011. Total trading volume decreased by 70% and total trading value decreased by 92%. There was one (1) extra-ordinary transaction, pursuant to a take-over, which brought to a close AMCL Holdings Limited bid for all issued and outstanding shares in ANSA McAL (Barbados) Limited, compared to fourteen (14) extra-ordinary transactions in the corresponding period for 2011. The Odd-Lot Market was the only market to record any improvement in activity and there was no trading on the Block Trade Market. The exclusion of the extra-ordinary transactions, however, paints a much more realistic picture of market activity. Less the extra-ordinary transactions which occurred in both the first half of 2012 and 2011, total trading volume would have increased by 10% while total trading value would have fallen by 14%. These figures are in line with general market conditions as share prices have fallen thus giving persons an excellent opportunity to purchase stock in lucrative companies at discounted prices. Falling share prices have also given these persons the opportunity to purchase more stock with the same level of investment thus resulting in an increase in the trading volumes. st
Table 1 - Total Trading Activity - 1 Half 2012
Market REGULAR ODD-LOT PUT - THROUGH JUNIOR BLOCK TRADE TOTAL
June 2012 Volume 3,660,142 110,448 72,415 2,000 3,845,005
June 2011 Volume 12,316,659 86,445 178,056 3,200 12,584,360
$ $ $ $ $ $
June 2012 Value 18,201,636 483,971 431,099 20,925 19,137,631
$ $ $ $ $ $
June 2011 Value 225,678,597 416,668 915,939 34,400 227,045,604
% Change Volume -70% 28% -59% -38% NA -69%
% Change Value -92% 16% -53% -39% NA -92%
Second quarter 2012 market performance showed some improvements even when taking into account two extra-ordinary transactions which occurred during the second quarter of 2011. As illustrated in Table 2 below total trading volume was up 3% while total trading value was down 35%. The Odd-Lot