MSE Trading Report for Week ending 16 April 2021

MSE Equity Total Return Index:

Chart of the Week: Medserv plc

Highlights:
  • The MSE Equity Total Return Index lost ground, as it closed in negative territory at 8,016.442 points. A total of 19 equities were active, 10 of which headed north, while another four closed in the opposite direction. Total weekly value increased by 16% to €0.87 million – generated across 158 transactions.
  • Medserv plc shares gained 17.5%, as the company announced that it has successfully concluded a conditional agreement with the shareholders of Regis Holdings Limited. The company added that the execution of the said agreement will, upon completion, bring together the two groups of companies and, subject to shareholder approval, the Company will be renamed MedservRegis.
    • The acquisition of the shares in Regis will be financed through the issuance of 47,893,229 ordinary shares of a nominal value of €0.10c per share and a share premium of €0.58c in favour of the shareholders of Regis, subject always, amongst others, to the approval of shareholders of the Company in the general meeting. The transaction with Regis is expected to provide the Company with market entry into critical growing markets and to strengthen the Company’s equity base and liquidity position.
    • Upon completion of the acquisition, the total consolidated assets of the Company are forecasted to be in the region of €170 million, of which circa €25million represents cash and cash equivalents. Total liabilities are estimated to be just under €100million, which include circa €23million of lease liabilities. The equity of the Company is forecasted to be circa €70 million.
    • The global reach of the Company, following the acquisition span across four continents, would comprise a presence in twelve countries and operations out of ten bases. This is expected to strengthen the Company’s market position and broaden its geographic footprint in strategic locations around the Mediterranean region (Libya, Malta, Cyprus & Egypt), in the Middle East (UAE, Oman and Iraq), Sub-Saharan Africa (Mozambique, Uganda, Angola and South Africa) and South America (Suriname).
    • Medserv plc closed the week at €0.74, as seven transactions involving 69,910 shares were executed.
  • Harvest Technology plc was the most liquid, as it generated a total weekly turnover of €0.19 million, traded across 18 deals. The equity reached €1.44 last Tuesday but managed to recover and close flat, as it ended the week at €1.45.
  • Last Monday, GO plc announced that the 23rd Annual General Meeting shall be held on May 27, 2021.
    • The annual report and financial statements for the year ended December 31, 2020 comprising the financial statements and the directors’ and auditors’ reports thereon, shall be received and approved.
    • Moreover, the payment of a net dividend of €0.16 per share, net of taxation, to all shareholders listed on the register as at April 27, 2021 shall also be approved. The payment of this net dividend amounts to the sum of €16.21 million.
    • The equity traded at a 49-week high of €3.72 but did not manage to sustain this level, as it closed at €3.64 – equivalent to a 1.6% decline. Five deals involving 1,890 shares dragged the price €0.06 lower.
  • Yesterday, International Hotel Investments plc announced that on April 30, 2021, it shall consider and, if thought fit, approve, the audited financial statements for the financial year ended December 31, 2020. The equity headed the list of fallers with a 15.7% movement in price, equivalent to a €0.11 decline. Seven deals involving 80,250 shares dragged the price to €0.59.
  • In the banking industry, Bank of Valletta plc was active but remained flat at €0.90.  The bank’s shares traded 20 times over a spread of 77,933 shares, worth €71,004.
  • Its peer, HSBC Bank Malta plc started off the week at €0.90 but ended the week at €0.86 – translating into a 5.5% increase. A total of 44,640 shares changed ownership across 17 transactions.
  • Malta International Airport plc traded at a weekly low of €6.15 but managed to recover, as it closed flat at €6.20. A total of 14,306 shares were spread across 13 transactions.
  • Last Wednesday, Trident Estates plc announced that the board shall be meeting on May 12, 2021 to consider and approve the audited financial results for the year ended January 31, 2021.
    • The board shall also consider the declaration or otherwise of a final dividend to be recommended to the Annual General Meeting, scheduled for June 25, 2021
    • The equity traded 6.7% higher, as 20,356 shares were spread across five transactions. A €0.10 increase in price was recorded, as it closed at €1.60.
  • Last Monday, Tigne’ Mall plc announced that the Annual General Meeting will be held on June 15, 2021. A sole deal of 1,450 shares pushed the price 1.4% higher to €0.73.
  • The board of Main Street Complex plc announced that it is scheduled to meet on April 20, 2021 to consider and, if deemed appropriate, approve, the audited financial statements for the financial year ended December 31, 2020. The equity was not active during the week.
  • The MSE MGS Total Return Index registered a further 0.19% increase, as it closed at 1,126.43 points. Out of 18 active issues, six traded higher while another 11 lost ground. The 5.25% MGS 2030 (I) headed the list of gainers, as it closed 1.4% higher at €148.00. On the other hand, the 5.2% MGS 2031 (I) closed 1.8% lower at €148.35.
  • The MSE Corporate Bonds Total Return Index advanced by another 0.32%, as it reached 1,112.33 points. A total of 39 issues were active, 18 of which closed higher while another 12 closed in the red. The best performance of a 2% change in price was recorded by the 4% Merkanti Holding plc Secured 2026, as it closed at €103.00. Conversely, the 6% Medserv plc Secured & Guaranteed Notes 2020-2023 declined by 2%, ending the week at €99.00.
  • In the Prospects MTF market, nine issues were active. The highest weekly turnover of €34,997 was recorded by the 5% Luxury Living Finance plc Secured Bonds 2028.

 

Upcoming Events 
Best Performers:
1. MDS+17.46%
2. MDI+7.50%
22 APR 2021MT: HSBC Bank Malta plc – Annual General Meeting3. TRI+6.67%
22 APR 2021MT: Tigne’ Mall plc – Annual Results
23 APR 2021MT: MIDI plc – Annual ResultsWorst Performers:
1. IHI-15.71%
2. GO-1.62%
3. FIM-1.27%

 

 

 

Price (€): 16.04.2021Price (€): 09.04.2021Weekly Change (%)2021 Performance (%)
MSE Equity Total Return Index8,016.4428,042.663-0.33-5.37
BMIT Technologies plc0.5200.525-0.957.88
Bank of Valletta plc0.9000.9000.00-5.26
FIMBank plc (USD)0.3100.314-1.27-38.00
Grand Harbour Marina plc0.6600.6600.00-5.71
GO plc3.6403.700-1.622.83
Harvest Technology plc1.4501.4500.00 -2.03
HSBC Bank Malta plc0.8600.8155.52-4.44
International Hotel Investments plc0.5900.700-15.71-18.06
Lombard Bank plc1.9101.9000.53-19.07
Loqus Holdings plc0.0900.0900.00-9.09
LifeStar Holding plc0.6000.6000.0020.00
MIDI plc0.4300.4007.50-4.02
Medserv plc0.7400.63017.46-6.33
Malta International Airport plc6.2006.2000.000.00
Malita Investments plc0.8650.8600.58-3.89
Mapfre Middlesea plc2.3602.3600.00-4.07
Malta Properties Company plc0.5500.5500.0010.00
Main Street Complex plc0.4980.4980.00-0.40
MaltaPost plc1.3201.3200.00-0.75
PG plc2.0602.0400.983.00
Plaza Centres plc0.8800.8800.00-10.20
RS2 Software plc1.8401.7902.79-8.00
Simonds Farsons Cisk plc8.7508.1507.3612.18
Santumas Shareholdings plc1.3901.3900.000.00
Tigné Mall plc0.7300.7201.39-14.12
Trident Estates plc1.6001.5006.67-3.61

This article, which was compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such. The Company is licensed to conduct investment services by the MFSA and is a Member of the Malta Stock Exchange and a member of the Atlas Group. The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article. For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 21224410, or email [email protected]