RS2 regains €1.16 level as UK bank shows interest in stake

The share price of RS2 Software plc jumped 5.5% to regain the €1.16 level albeit on low volumes of 6,200 shares on the stock exchange this morning.

The company held its annual general meeting this morning, during which it was revealed that the new investor interested in acquiring at least 10% of the company (as per the announcement dated 16 May 2013) is a large bank based in the UK.

The directors also explained that the new investor is viewing RS2 as a strategic investment and will help the company tap into new markets.

During the meeting the shareholders approved all the items on the agenda including a resolution permitting the company to divulge price sensitive information to potential investors. This will kick-start the due-diligence exercise with the potential investor.

The final dividend and the bonus share issue were also approved. The final net dividend of €0.025 per share will now be paid tomorrow while be bonus shares will be distributed to shareholders in the coming days.

Bank of Valletta plc shares also closed in positive territory today with a 0.2% increase to the €2.275 level. Activity remained high with 30,732 shares changing hands.

Similarly, Plaza Centres plc shares edged 1.8% higher to regain the €0.57 level on a single deal of 1,400 shares.

On the other hand, GO plc eased minimally lower to €1.54 also on a single trade of 27,000 shares. Similarly, Island Hotels Group Holdings plc slipped 4.3% back to the €0.55 level across 8,000 shares and Malita Investments plc retreated by 0.2% to €0.51 on low volumes of 8,400 shares.

Meanwhile, HSBC Bank Malta plc held on to the €2.71 level on volumes of 30,000 shares and Middlesea Insurance plc continued to trade at the €0.811 level on just 1,200 shares.

On the bond market, the Rizzo Farrugia MGS Index moved lower for the third consecutive session with another marginal drop to 1,017.941 points as Eurozone yields remained above the 1.6% level.

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