Crimsonwing plc’s equity advanced by 1.7 per cent to a new all-time high of 88c during this morning’s session across four deals totalling 28,631 shares.
Demand for the shares of the IT company was sustained in recent days following the announcement of the three new contracts and the publication of the interim results showing a strong increase in profitability.
Crimsonwing confirmed this afternoon that 484,982 new shares have been issued and admitted to the Official List following the scrip dividend recently approved by shareholders during the annual general meeting held on October 16. This represents a very high take-up of 97.1 per cent.
The share price of GO plc also edged 0.3 per cent higher to regain its 2013 high of €1.68 across eight deals totalling 35,770 shares. Investors now await the board’s decision on whether GO will be participating or otherwise in Forthnet’s €30 million rights issue. The Greek telecoms company published the prospectus last week and GO have until December 18 to take a decision.
In the financial sector, FIMBank plc and Lombard Bank Malta plc edged higher while the share price of Bank of Valletta plc declined. The US dollar denominated equity of FIMBank rose by 0.6 per cent to 95cUS on total volumes of 44,871 shares.
The closing price of today is equivalent to the offer price of the voluntary bid launched by Burgan Bank and United Gulf Bank yesterday (jointly referred to as the Offerors).
The Offerors launched a voluntary bid to acquire all the issued shares in FIMBank plc not already held by them. Shareholders may sell part or all of their holding to the Offerors at the price of 95cUS per share which represents a premium of 13c48US (16.5 per cent) to the net asset value of FIMBank plc of 81c52US per share as at June 30.
The acceptance period is from December 16 to January 20. The offer document may be downloaded here.
Meanwhile, Lombard Bank Malta plc gained 0.5 per cent to €1.86 on a small trade of 631 shares.
On the other hand, the share price of Bank of Valletta plc slipped one per cent lower back to the €2.60 level on low volumes of 1,800 shares. The bank is scheduled to hold its annual general meeting on December 19.
Similarly, the equity of RS2 Software plc retreated by 0.8 per cent to €2.28 across 10,116 shares.
Meanwhile, no change was registered in the share price of HSBC Bank Malta plc as it recovered from an intra-day low of €2.56 to end the session unchanged at the €2.57 level on volumes of 16,300 shares.
MaltaPost plc shares also finished the session unchanged at the all-time high of €1.13,5 on a deal of 2,996 shares. Today marked the last day for investors’ to gain entitlement to the final net dividend of 4c per share.
Therefore, the equity turns ex-dividend as from tomorrow. The postal operator is scheduled to hold its annual general meeting on January 15.
In the property sector, 2,900 Plaza Centres plc shares traded unchanged at the 57c level and MIDI plc held on to the 27c level across four deals totalling 60,000 shares after opening the day at 28c.
On the bond market, the Rizzo Farrugia MGS Index inched marginally higher to 1,018.475 points as Eurozone yields dipped below the 1.85 per cent level.
The region’s finance ministers are currently discussing ways on how to close down failing European banks.
Furthermore, markets welcomed the revised figures for Italian GDP which is now estimated to have been flat during the third quarter of 2013 (in contract to the previous eight quarters of contraction) as opposed to the initial estimate of a 0.1 per cent drop.
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