6pm Holdings plc was the sole mover during this morning’s trading session. The share price of 6pm advanced by 3.5% as 3,000 shares were exchanged at the upper limit of GBP0.497. 6pm’s equity returned to activity following the announcement on Monday evening that it successful deployed its Electronic Document Management System (EDMS) at NHS Haringey in the UK which should be followed by similar implementations in other UK trusts during 2010.
The two large banks closed unchanged after easing from their intra-day highs. Bank of Valletta plc briefly touched a high of €3.275 before retreating back to the €3.26 level on volumes of 15,400 shares. HSBC Bank Malta plc touched a high of €3.04 but closed unchanged at the €3.02 level despite yesterday’s announcement that since the start of the year the bank performed strongly and made further progress in improving revenues and controlling costs while loan impairments weakened modestly. All other active equities, namely GO plc, Middlesea Insurance plc, Medserv plc and MaltaPost plc, traded unchanged.
On the bond market, Simonds Farsons Cisk plc this morning published the Formal Notice with respect to a new 6% Bond Issue maturing between 2017 and 2020. The proceeds from the Issue will be used to fund the redemption of the maturing 6.6% Bonds with the balance being applied to the general funding purposes of the Group including a new €14 million Brewhouse.
The Farsons Group will be giving preferential allocation to existing bondholders who are willing to exchange their current holding into the new bonds. Farsons have also reserved an amount for shareholders.
Edward Rizzo
www.rizzofarrugia.com
Times of Malta - Wednesday 12th May
