Stock exchange: IHI equity holds on to gains

During today's trading session the share price of International Hotel Investments plc held on to its recent gains as a further 20,000 shares traded at the €0.89 level. This afternoon IHI announced that an Extraordinary General Meeting will take place on 27 August to approve the 4% bonus share issue (1 new share for every 25 held) announced last week.

The bonus shares will be distributed to those shareholders as at 31 December 2009. Shareholders are also being requested to approve a buy-back of these shares by the Company at the price of €1.00 per share.

Elsewhere across the equity market, four other equities traded with most activity centred around Bank of Valletta plc. BOV's share price edged minimally higher to €3.269 on increased volumes of 27,170 shares. Meanwhile HSBC Bank Malta plc succumbed to selling pressure as its equity dropped 0.6% to €2.962 ahead of the interim results announcement next Friday afternoon.

MaltaPost plc traded again at its 2010 high of €0.90 while Middlesea Insurance plc edged 0.8% lower to €1.14.

Following the March 2010 full-year results announcement by Crimsonwing plc on Monday evening, shortly following the close of today's trading session, Plaza Centres plc reported its 2010 interim results. Plaza registered a marginal increase in pre-tax profits to €658,487 as overall revenue edged 2.3% higher to €1 million. The Directors of Plaza revealed that the new extension in Bisazza Lane is expected to be completed in early 2011.

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