New bids emerged during this morning’s session helping the equities of RS2 Software plc and Crimsonwing plc to extend their year-to-date gains. RS2 Software plc consolidated its top position as the best performer with a further 1.5% increase to the €1.98 level across 10,600 shares. The share price of RS2 has so far rallied by 184.3% during 2013. RS2 is scheduled to hold an Extraordinary General Meeting tomorrow for shareholders to consider and approve a number of changes to the Company’s Memorandum and Articles of Association.
These changes form part of the share purchase agreement between ITM Holding Ltd and Barclays Bank plc for the latter to acquire a 10% shareholding. Barclays Bank, which has also bought a licence from RS2 worth an initial GBP8.5 million, also intends to acquire a further 10% equity stake from the secondary market.
Crimsonwing plc also started the fourth quarter of 2013 in positive territory with a 4.1% jump during this morning’s session to a new all-time high of €0.77 on a single deal of 6,250 shares. Crimsonwing is scheduled to hold its Annual General Meeting on 16 October.
Positive movements were also registered in the equities of the two large banks. HSBC Bank Malta plc edged 1.4% higher, representing the fourth consecutive increase, to €2.55 across six deals totalling 18,735 shares. Similarly, the share price of Bank of Valletta plc moved a further 0.4% higher to close at the €2.43 level (just €0.02 below the equity’s 2013 high) across three deals totalling 2,481 shares.
On the other hand, the share price of Medserv plc slumped 7.1% to a new 6-and-a-half-year low of €3.25 level on a single trade of 1,500 shares. This afternoon, Medserv announced that it has been awarded a service contract by Genel Energy Petroleum Services Limited in connection with an exploration well offshore Malta. Genel have the option of extending the contract to a second well.
The share price of GO plc shed 0.6% to €1.48 on a deal of just over 2,000 shares.
No trades were executed in Simonds Farsons Cisk plc despite being the last day for investors to gain entitlement to the recently declared net interim dividend of €0.0333 per share. The equity will turn ex-dividend as from tomorrow with the interim dividend payable on 18 October.
On the bond market, the Rizzo Farrugia MGS Index was practically unchanged at 1,021.34 points although the benchmark Eurozone yields regained the 1.8% level. Bund yields rebounded this morning in spite of the uncertainty in Italy and the partial shutdown of the US government after Congress failed to reach a deal on a new budget. The US Congress also faces discussions to raise the country’s debt ceiling which will be reached by mid-October.
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