–

Local Weekly Round Up: 16th — 23rd February 2007

– 

The MSE Index edged 0.54% lower on a week-on-week basis following losses in five of the twelve active equities during the week. The three large caps – HSBC Bank Malta, Bank of Valletta and Maltacom – all closed in negative territory pushing the local bourse in the red.

– 

FIMBank was the top equity performer of the week heading upwards by 7.30%. The equity gained US$0.03 on Thursday and a further US$0.097 in Friday’s session. This happened after on Thursday, the Board of Directors of FIMBank announced the company’s financial results for the financial year ended 31st December 2006. The results were positive with the Group posting an after-tax profit of US$7.59 million in 2006 (2005: US$2.70 million). This meant an increase of 181% over the previous year.

– 

During the Board of Director’s meeting it was also resolved that the statements be submitted for approval of the shareholders at the forthcoming Annual General Meeting to be held in Malta on 12th April 2007. At that meeting, the Board of Directors will be recommending the payment of a scrip dividend of US$3,036,929 (i.e. US cents 3.5244 per ordinary share). The Board resolved that the attribution price for calculating the scrip dividend will be communicated at a date after the 28th February 2007.

– 

Back to the weekly trading on the Malta Stock Exchange, the other equities to close in positive territory were GlobalCapital, Simonds Farsons Cisk and Datatrak holdings which closed 1%, 1.2% and 4.08% higher from last week’s closing price. All these gains were however attained across minimal trades.

– 

On the other hand, the two main local banks, HSBC Bank Malta (“HSBC”) and Bank of Valletta (“BOV”) registered losses. HSBC dropped by 0.47% on a weekly basis despite a week ago it announced record profits for the year ended 31st December 2006, and also that it is recommending a 10c6 gross dividend per share. The equity was the most actively traded during the week even though there was one particular trade of 368,000 shares recorded. With regards to BOV, the share dropped marginally by 0.57% following losses in Monday’s, Thursday’s and Friday’s sessions. Trading was relatively thin in BOV shares with 18,238 shares changing hands across 51 transactions during the week.

– 

The other local large cap Maltacom also headed downwards by 4.05%. The equity lost 2c on Monday, 4c on Tuesday however recouped 2c9 on Wednesday to lose 2c9 again in Friday’s session and thus close 6c lower than a week ago.

– 

Malta International Airport and International Hotel Investments were amongst the negative performers losing 0.86% and 0.71% respectively on thin trade. Medserv, Plaza Centre and Middlesea Insurance were also active however none registered any changes to their share price on a weekly basis

– 

Moreover, during the week the shareholders of Grand Harbour Marina (“GHM”)who last week sold 30% of their shareholding to members of the general public, announced the share allocation policy.

–

It was concluded that subscribers who applied to buy up to 40,000 shares will receive the full allocation. Those who applied to buy more than 40,000 shares will receive 40,000 shares and 68.1 per cent of the remaining balance, rounded up to the nearest 100 shares. Refunds, where applicable will be paid by the 28th of this month.

– 

All those who applied to buy shares in GHM plc will receive a letter from the company with explanatory details.

–