IHI shares placed

In a company announcement issued on Wednesday, the board of directors of International Hotels Investments Plc stated that in accordance with the provisions of the offering circular dated November 20, 2001 containing details of an offer of subscription of eight million ordinary shares in International Hotels Investments Plc, it has now allocated the balance of 1,417,207 new ordinary shares at an offer price of Lm1 per share.

The total called up issued share capital of International Hotels Investments Plc now stands at 48,000,000 ordinary shares of Lm1 each. In the meantime, apart from the above special trade, 7,604 shares exchanged hands between Lm0.85 and Lm0.86.

Bank of Valletta shares traded on Monday and Tuesday this week.

On Monday, one deal was struck in which 2,000 shares changed hands at Lm3, bringing the price down by 5c.

Tuesday saw six deals being struck, in which 1,300 shares changed hands between Lm3 and the closing price of Lm3.05, thus reverting to last week's closing price. 20 shares at Lm3 and 133 shares at Lm3.03 were left as best unsatisfied bids and offers respectively following Friday's trading session.

Gains were also registered in HSBC Bank Malta's share price this week, when on Wednesday two deals were struck at Lm3.94. 135 shares changed hands at this price, unchanged from the previous closing price.

Thursday's session saw one deal for 5,000 shares being struck at Lm3.999, bringing the closing price up by 5c9. As Friday's session drew to a close, best bids of 1,000 shares at Lm3,84 stood against best offers of 4,400 shares at Lm4.

Following a meeting of the board of directors of Maltacom plc held on June 10, the financial statements for the three months ended March 31, 2002 were published. Figures show Turnover of Lm12,758,000 (period ended March 31, 2001: Lm11,477,000); Profit for the period of Lm1,911,000 (period ended March 31, 2001: Lm1,965,000) and earnings per share of 1c9 (unchanged from period ended March 31, 2001).

Trading in Maltacom shares this week consisted of 20 deals being struck between Lm1.20 and Lm1.155 over which 30,010 shares changed hands. The closing price on Friday was down by 2c from the previous week's closing price. After a single deal for 100 shares dropped the price to Lm1.155 on Monday, the equity recovered the lost ground over the week to close at Lm1.20. At the close of Friday's session 1,000 shares at Lm1.17 and 1,000 at Lm1.20 were the best outstanding bids and offers respectively.

On Tuesday, following notice given by means of a company announcement, Aberdeen Asset Management plc acquired 3,500,000 ordinary shares in Global Financial Services Group plc (formerly Globe Financial Management plc). As a result of this acquisition Aberdeen now holds 10 per cent of the issued ordinary share capital of the company.

Of the 12,810,205 which were traded in the equity this week, 3.5 million shares were the original special trade passed at Lm0.25; this trade was then reversed because it should have been struck at Lm0.28, thereby the 3.5 million was registered again at Lm0.25; 3.5 million shares passed at Lm0.28 as was originally meant. Apart from the above special trade, 2,310,205 shares exchanged hands between Lm0.235 and Lm0.28, mostly between the same broking firm.

In a company announcement issued on Monday, FIMBank plc stated that the board of directors shall be meeting on August 10, 2002 and February 22, 2003 to approve the half-yearly accounts and annual accounts respectively and to consider the payment of a dividend.

The other equities which traded during the week are shown hereunder, followed by the price range in which trading was struck: 49,835 shares in Lombard Bank at Lm3.96; 101 shares in Middle Sea Insurance plc at Lm2.34; 2,944 shares in Simonds Farsons Cisk plc at Lm0.66; 13,800 shares in FIMBank between USD1.27 and USD1.275. No trading was registered in Suncrest Hotels, Plaza Centres and Datatrak.

Trading over the week in corporate bonds was made up of the following:

- Ten deals struck in the 6.15 per cent Bank of Valletta 2010, in which a nominal value of Lm23,400 changed hands between Lm102.40 and Lm103.

- Seven deals struck in the eight per cent Bank of Valletta 2010 (USD), in which a nominal value of USD 291,000 changed hands between USD109.75 and USD109.80.

- Three deals struck in the 6.5 per cent Corinthia Finance 2010 (EUR), in which a nominal value of EUR 14,600 changed hands at EUR 100.25.

- Two deals struck in the 6.7 per cent Corinthia Finance 2009, in which a nominal value of Lm36,700 changed hands at Lm102.50.

- One deal struck in the 6.7 per cent Eden Finance 2010, in which a nominal value of Lm1,000 changed hands Lm99.60.

- Two deals struck in the 7.25 per cent HSBC 2005, in which a nominal value of Lm700 changed hands at Lm105.85.

- One deal (put-through) struck in the five per cent IHI 2010, in which a nominal value of Lm150,000 changed hands at Lm100.

- Twenty-five deals struck in the 6.7 per cent Mizzi Finance 2009/12, in which a nominal value of Lm109,500 changed hands between Lm100 and Lm102.10.

- Two deals struck in the 8.25 per cent Suncrest 2005/7, in which a nominal value of Lm1,000 changed hands between Lm105 and Lm 103.

- One deal (put-through) struck in the 7.5 per cent Hotel San Antonio 2012, in which a nominal value of Lm1,700 changed hands at Lm100.

The MSE Share Index increased by 6.556 points, or 0.32 per cent, over the week, and now stands at 2,036.892.

Total Malta Government Stock turnover over the week amounted to a nominal value of Lm86,900 being struck in 16 deals over 11 different stocks. The allotment policy to be adopted following the issue of Lm10 million 5.6 per cent MGS 2007 (III) Fungibility Issue is: All applications up to Lm5,000 will be accepted in full; applications over Lm5,000 will be allotted the basic Lm5,000 and an additional pro-rata (64.4 per cent circa) amount as announced in the prospectus.