News | Wednesday, 24 June 2009

GlobalCapital Financial Management Ltd - Malta Stock Exchange Review

The MSE index back in negative terrain

Yesterday, at Garrison Chapel, the local market was somewhat sedated with not many trades being put through and subdued volumes. The sole gainer of the day was Bank of Valletta p.l.c. Meanwhile, the shares of Simonds Farsons Cisk p.l.c., FIMBank p.l.c. and MaltaPost p.l.c. registered a decline.
On the banking front, the shares of Bank of Valletta p.l.c. stole the show once again, clocking in a gain of €2c0 at €2.67. A total of 9,670 shares changed hands across ten transactions that carried a market value of €25,694. The lowest traded price during the session was €2.65, whereas the highest traded price of the day was €2.67. However, week on week the shares of Bank of Valletta p.l.c. lost 0.19% from its closing price of €2.675 on Tuesday 16th June.
On 28th April, Simonds Farsons Cisk p.l.c. had announced that with effect from Friday, 26th June 2009, the amount of €1,285,714.20 from the Company’s reserves is capitalised for the purpose of a bonus issue of 4,285,714 fully paid ordinary shares of a nominal value of €0.30 per share, representing 1 bonus share for every 6 shares held, to be allotted to the members appearing on the Register of Members as at the close of business on the MSE on the 25th June 2009. The share price traded €5c0 lower to settle at the €1.80 level across 1,054 shares.
On Wednesday 17th June the Board of Directors of Simonds Farsons Cisk p.l.c. announced that since the publication, on 28th April 2009, of its preliminary statement of annual results for the financial year ended 31st January 2009, no material events and/or transactions have taken place that would have an impact on the financial position of the Holding Company and its controlled undertakings, such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules. Trading conditions remain challenging. Group turnover has reduced marginally as compared to the same period last year, but the various measures of cost containment taken by management have made up for the shortfalls in revenues, and to date, targeted results are close to being attained. On Friday 19th June, Simonds Farsons Cisk p.l.c. announced that as from the 1st July 2009, Norman Aquilina, currently Chief Commercial Officer of the Farsons’ Group will be taking on the role of CEO Designate. Mr. Aquilina will be working closely with the current CEO, Mr. Louis A Farrugia and with the Board of Directors, with a view to assuming the responsibilities of the CEO. No matter concerning Mr Aquilina requires disclosure under Listing Rules 8.16.3 to 8.16.8.
Remaining on the loser’s front, FIMBank p.l.c. shares witnessed a decline. The share price tumbled US$8c8 to close the second session of the week at US$1.182 across 3,409 shares. The total turnover of the week amounted to 3,509 shares across three trades.
Elsewhere, the share price of MaltaPost p.l.c. also weighed on the index dragging the share price down €1c1 to settle at the €0.65 level. This equity was the most liquid stock of the day as 10,487 shares were swapped across seven deals. At market close, best unsatisfied bids stood at €0.651 for 1,500 shares against best offers of 2,000 shares at €0.68. Week on week the shares of MaltaPost p.l.c. surrendered 8.45% from its closing price of €0.71 on Tuesday 16th June.
6pm Holdings p.l.c. announced on Wednesday 17th June that with effect from the second annual general meeting of the Company which was held on the 15th June 2009, Mr. Jason Brickell was appointed as a non-executive Director of the Company. There are no matters concerning Mr. Brickell which require disclosure under Listing Rules 8.16.2 to 8.16.8. Furthermore, the Company announced that at the Annual General Meeting held on the 15th June 2009, the shareholders considered and approved all ordinary and extraordinary resolutions on the agenda.
On Thursday 18th June, GO p.l.c. announced that Forgendo Limited, has acquired a further 300,000 shares in Forthnet S.A. issued share capital, for a total consideration of €627,720.
On Friday 19th June, Grand Harbour Marina p.l.c. announced that at the Annual General Meeting of the Company, the shareholders considered and approved all the resolutions. Furthermore, the ongoing Board of Directors was reappointed in full.
In the fixed interest market, a total of €871,406 (seven deals) were transacted in Government Bonds. Meanwhile, a total of €17,188 (seven deals) were transacted in Corporate Bonds.
The turnover value in the Treasury Bill market amounted to €183,870 across two deals.

Issued by GlobalCapital Financial Management Ltd, 120 The Strand, Gzira, GZR1027 for information purposes only and is not intended to constitute any financial, legal or tax advice. This write up is not to be taken as investment advice to buy or sell any investment. Investors should seek professional advice prior to taking investment decisions and should note that the value of investments may fall as well as rise. Readers who would like more information are invited to send an E-mail to [email protected] or Tel: 21 342342. GlobalCapital Financial Management Ltd is a member of the Malta Stock Exchange and is licensed by the Malta Financial Services Authority (MFSA).


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24 June 2009

Malta Today


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