Grand Harbour Marina keeps listing
The Malta Financial Services Authority has allowed Grand Harbour Marina to retain its listing on the Malta Stock Exchange.In August, 9.2 per cent of the company's shares were purchased by Camper and Nicholsons Marina Investments Ltd (CNMI), bringing...
The Malta Financial Services Authority has allowed Grand Harbour Marina to retain its listing on the Malta Stock Exchange.
In August, 9.2 per cent of the company's shares were purchased by Camper and Nicholsons Marina Investments Ltd (CNMI), bringing the total up to 79.2 per cent. This set the company's free float below the 25 per cent threshold required by the listing authority.
However, the MFSA has the right to give a dispensation in exceptional circumstances.
CNMI said it believed strongly in the benefits of retaining a Maltese locally-listed marina company.
The company this week announced half-year losses before tax of Lm208,000, compared to a profit in the same period of 2006 of Lm659,000.
There were no superyacht berth sales in the first half of this year, resulting in a decrease in revenue from Lm1.33 million to Lm203,000. However, pontoon fees and revenues from ancillary services rose by 20 per cent.
The company is forecasting full year profits after tax of Lm711,000, subject to the successful licensing of long-term berths.
No dividend was recommended.
In August, 9.2 per cent of the company's shares were purchased by Camper and Nicholsons Marina Investments Ltd (CNMI), bringing the total up to 79.2 per cent. This set the company's free float below the 25 per cent threshold required by the listing authority.
However, the MFSA has the right to give a dispensation in exceptional circumstances.
CNMI said it believed strongly in the benefits of retaining a Maltese locally-listed marina company.
The company this week announced half-year losses before tax of Lm208,000, compared to a profit in the same period of 2006 of Lm659,000.
There were no superyacht berth sales in the first half of this year, resulting in a decrease in revenue from Lm1.33 million to Lm203,000. However, pontoon fees and revenues from ancillary services rose by 20 per cent.
The company is forecasting full year profits after tax of Lm711,000, subject to the successful licensing of long-term berths.
No dividend was recommended.