GlobalCapital Financial Management Ltd - Malta Stock Exchange Review
Lombard Bank p.l.c. steals the show
Yesterday, during the second session of the week, the local market surrendered 0.13 per cent to finish at 3616.84 points. Lombard Bank p.l.c. had the best performance of the day. Large-caps Bank of Valletta p.l.c. and HSBC Bank Malta p.l.c. preferred to stay on the sidelines.
On the banking front, Lombard Bank p.l.c. climbed €8c0 to settle at the €3.05 level across 25,000 shares. These shares were exchanged across five trades and carried a market value of €76,168.40.
The shares of Santumas Shareholdings p.l.c. gained a notable €35c0 at €3.00 across a low turnover of 123 shares.
On a negative note the shares of FIMBank p.l.c. lost US$6c2 to finish at US$1.778. A total of 12,100 shares were swapped in two deals. At the end of trading, bids for 1,403 shares stood at US$1.40, whereas the best offer for 301 shares stood at US$1.778. On Friday 3 October FIMBank p.l.c. announced that, pursuant to the scrip issue, a total amount of 1,089,599 Ordinary Shares were admitted to listing on the Malta Stock Exchange on Friday 26 September 2008 and commenced trading on Monday 29 September 2008. The total issued and fully paid up share capital of the Company as at 30 September 2008 amounted to 134,810,312 Ordinary shares of US$0.50 each. In accordance with the provisions of Listing Rules 8.110.1 and 8.117, the Company received notification from Mr Mohammed I.H. Marafie that his shareholding in the Company has fallen below the threshold of 5 per cent. Mr Marafie holds a total of 5,990,101 Ordinary Shares equivalent to 4.4434 per cent of the issued share capital of the Company.
The shares of Middlesea Insurance p.l.c. and MaltaPost p.l.c. traded €0c1 and €2c4 lower at €2.949 and €0.82 across 1,000 and 2,089 shares respectively.
On Monday 6 October MaltaPost p.l.c. announced that at a Board of Directors Meeting held on Monday 6 October, the following were agreed:
1. The Audited Financial Statements for the year ended 30 September 2008 will be presented for approval to a Board of Directors Meeting to be held on Thursday 15 January 2009.
2. On Tuesday 17 February 2009, an Annual General Meeting (AGM) will be held when the company’s Audited Financial Statements for the year ended 30 September 2008 will be presented to the meeting.
3. In order so satisfy statutory obligations an AGM will also be held on Thursday 20 November 2008 to:
a. Present an Overview of MaltaPost p.l.c.’s performance
b. Appoint Directors to hold office from 20 November 2008 to the 17 February 2009 and confirm the annual aggregate directors’ remuneration for the holding of their office.
Elsewhere, the shares of Bank of Valletta p.l.c., HSBC Bank Malta p.l.c., GO p.l.c., International Hotel Investments p.l.c., Grand Harbour Marina p.l.c. and Crimsonwing p.l.c. traded sideways without affecting their previous session close at €3.90, €2.98, €2.20, €1.00, €2.20, and €0.50 respectively.
On Friday 3 October, GO p.l.c. announced that further to the judgement of the Court of Appeal issued on the 7 July 2008 relating to the former Cable and Wireless employees, the Company has filed an application for retrial proceedings and an application to stay the execution of the judgement pending the retrial application. On Monday 6 October GO p.l.c. announced that Forgendo Limited - the joint venture company between GO p.l.c. and Emirates International Telecommunications (Malta) Limited has acquired a further 110,987 shares in Forthnet S.A. issued share capital, for a total consideration of €172,749.40.
Simonds Farsons Cisk p.l.c. announced on Friday 3 October the appointment of Mrs Marina Hogg, as director of the Company with effect from 1 October 2008, filling the post vacated by Mr Alberto Miceli Farrugia. Mrs Hogg was formerly a director of M.S.M. Investments Limited, and presently serves on the boards of Bolina Holdings Limited, Hogg Capital Investments Limited and Hogg Capital Management Limited. Mrs. Hogg is an executive director of Hogg Capital Investments Limited, an MFSA licensed investment adviser and member of the Malta Stock Exchange. No matter concerning Mrs Hogg requires disclosure under Listing Rules 8.16.3 to 8.16.8.
Yesterday, in the fixed interest market, a total of €5,262,444 (10 Deals) were transacted in Government Bonds, whereas a total of €173,417 (14 Deals) were transacted in Corporate Bonds.
The turnover value in the Treasury Bill secondary market amounted to €106,262.
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).
