MSE | Wednesday, 06 December 2007

GlobalCapital p.l.c. shares up on high turnover

Global Capital Financial Management Ltd - Malta Stock Exchange Review

Yesterday, the Malta Stock Exchange index caved in 0.33% to finish the session at 4781.27 points. The shares of GlobalCapital p.l.c. closed higher, whereas, market heavy weighted HSBC Bank Malta p.l.c. and Bank of Valletta p.l.c. moved to a lower ground.
GlobalCapital p.l.c. had a positive performance as the share price traded 0c5 (Eur0.01) higher to settle at the Lm1.80 (Eur4.19) level. This equity was the most liquid stock of the day as 40,000 shares were swapped across seven transactions. The price shifted in a tight range of Lm1.789 (Eur4.17) to Lm1.80 (Eur4.19). Week on week, GlobalCapital p.l.c. gained 0.28% from its closing price of Lm1.795 (Eur4.18) on Tuesday 27th November.
A total of 2,000 shares forced the share price of Medserv p.l.c. to advance by 1c0 (Eur0.02) to finish at Lm1.76 (Eur4.10). These shares were transacted over a single deal. The total turnover of the week amounted to 14,700 shares and exchanged across six transactions.
On slim turnover of 3,889 shares, Bank of Valletta p.l.c. dropped 0c9 (Eur0.02) to finish the second session of the week at Lm3.54 (Eur8.25). At the end of trading, bids for 1,150 shares stood at Lm3.52 (Eur8.20), whereas the best offer for 360 shares stood at Lm3.54 (Eur8.25). The total turnover of the week amounted to 82,435 shares and exchanged across seventy four trades.
Remaining on the banking front HSBC Bank Malta p.l.c. had a similar session to the one of Bank of Valletta p.l.c. The share price slipped 1c5 (Eur0.03) at Lm1.93 (Eur4.50) across 14,400 shares to terminate the session on a negative note too. At market close, best demand for 7,218 shares stood at Lm1.93 (Eur4.50), whereas the best supply for 400 shares stood at Lm1.959 (Eur4.56). Week on week, HSBC Bank Malta p.l.c. lost 1.28% from its closing price of Lm1.955 (Eur4.55) on Tuesday 27th November.
On the telecommunications front GO p.l.c. was nearly non-existent with a mere 1,215 shares changing hands, bringing the price down by 0c1 (Eur0.002) to Lm1.298 (Eur3.02). Furthermore, trading in Grand Harbour Marina p.l.c. was restricted to one deal as the share price traded 0c1 (Eur0.002) lower at Lm0.748 (Eur1.74) across 4,000 shares.
On Monday 3rd December Grand Harbour Marina p.l.c. (“GHM”) announced, that it has concluded the grant of berths for long term use of three super yacht berths at Grand Harbour Marina, in Malta for a combined consideration of approximately €10m. This figure compares with GHM’s berth licensing sales forecast for the 2007 year, made at the time of its initial public offering of approximately €4.2m. GHM has a further 23 super yacht berths which it presently intends to release for long term licensing in phases over the coming years. The combined value of these berths at historic prices exceeds
€30m. GHM also has 197 berths for yachts up to 25 meters which berths are currently 95% let.
Elsewhere on the board Lombard Bank Malta p.l.c. preferred to stay on the sidelines without effecting its previous session close at Lm5.00 (Eur11.65) across 180 shares. On Friday 30th November, Lombard Bank Malta p.l.c. announced that further to the Group and Bank unaudited Condensed Interim Financial Statements for the six month period ended 30 June 2007, as well as previous Company Announcements, there were no other material events and transactions which have taken place during the relevant period. The Directors confirm that the Bank continues with the satisfactory profit and balance sheet trends which were reported in the half-yearly results of this financial year. In addition, the Directors confirm that both the solvency as well as liquidity ratios remain well in excess of regulatory requirement.
Simonds Farsons Cisk p.l.c. announced on Wednesday 28th November, that since the publication of the unaudited Financial statements for the six months ended 31 July 2007 and the date of this announcement, no material events and transactions have taken place that would have an impact on the financial position of the Holding Company and its controlled undertakings, such that would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules. During the first nine months of the financial year, the Group registered increased turnover levels over the corresponding period last year. The Directors expect, subject to any unforeseen circumstances, the Company’s performance for the current year to show a significant improvement over the year ending January 2007, and such improvement is to be reflected in the results of the Financial Statements for the year ending 31st January 2008.
FIMBank p.l.c. announced on Friday 30th November that the Rights Issue was closed. Pursuant to paragraph 6.3 of the Securities Note contained in the Prospectus dated 1st November 2007, any rights not taken up by that time, will deemed to be lapsed and renounced (the “Lapsed Right”). Furthermore, on Monday 3rd December FIMBank p.l.c. announced that, as at the closing of the Rights Issue on Friday 30th November 2007, 19,880,160 Rights were fully paid and taken up. Therefore, 19,880,160 New Ordinary Shares of a nominal value of US$ 0.50 will be issued, allotted and admitted to listing on the Official List of the Malta Stock Exchange on 3rd December. Trading is expecting to commence on Tuesday 4th December 2007. A total of 3,014,539 Lapsed Rights were to be allocated to the Intermediaries Offers received in accordance with the provisions of paragraph 6.3 of the Share Securities Note of the Prospectus dated 1st November 2007 and as announced in FIM87. The total amount of bids submitted by the Intermediaries was for 10,866,328 Lapsed Rights. Consequently:
a) all Lapsed Rights have been successfully taken up;
b) the Lapsed Rights Offer period is hereby declared closed; and
c) pursuant to Listing Rule 4.15, a premium of US$ 0.1793 per share (after all expenses) will be distributed by the Issuer to each eligible Lapsed Rights Holder.
In the fixed interest market, a total of Lm37,788 (Eur88,022.36) (10 Deals) were transacted in Government Bonds whilst a total of Lm3,479 (Eur8,103.89) (2 Deals) were transacted in Corporate Bonds.
The amount in EUR is quoted for information purposes only and is the result of a conversion using the Central Parity Rate of 1 EUR = Lm 0.429300 established by the Central Bank of Malta.

05 December 2007

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