Yesterday’s rebound in the share index was short-lived as the local equity benchmark slumped 0.6 per cent during this morning’s trading session back to a three-month low of 3,273.709 points reflecting the declines in the share prices of the two large banks.
The share price of Bank of Valletta ended this morning’s session 0.5 per cent lower at the €2.23 level after partially recovering from an intra-day low of €2.20 in the last moments of the session.
A total of 64,189 shares changed hands today across 11 deals. This week the bank sent out all the relevant documentation to shareholders in connection with the upcoming annual general meeting scheduled for December 17.
Lower volumes were transacted in HSBC as the equity slid 2.1 per cent lower to €1.90,5 on a single trade of 370 shares.
Meanwhile, a further 231,204 Midi shares were traded at the equity’s all-time low of 21c. In its recent interim directors’ statement, the company reiterated that it will be registering an operating loss for the financial year ended December 31 but the company will return to profits in 2015 due to the delivery of the 39 new apartments branded Q1.
Furthermore, the sales launch of the last residential block on Tigne Point (Q2) comprising 60 apartments and a commercial offering on the ground floor which is currently under construction, is expected during 2015.
Midi also announced that “it has engaged in discussions with a number of prospective investors” for Manoel Island.
The only other active equity was Malita Investments which held on to its all-time high of 61c on a single trade of 2,800 shares.
Shortly after the close of today’s trading session, Crimsonwing announced that it received a voluntary public takeover bid (cash offer) from KPMG with the intention of acquiring the entire issued share capital of the company at a price of 83c27 per share.
Shareholders as at close of trading on November 28 will be receiving an acceptance form and a copy of the offer document.
Acceptances are to be lodged at Rizzo Farrugia & Co (Stockbrokers) Ltd who has been mandated to act as the manager, registrar, collecting and paying agent.
The acceptance period is between December 9 and January 20 (both days included), or as may be extended by KPMG as provided in the offer document.
On the bond market, the Rizzo Farrugia MGS Index gained a further 0.1 per cent to reach yet another all-time high of 1,096.061 points as Eurozone benchmark yields slipped to a new all-time low of 0.695 per cent on hopes of additional non-standard stimulus measures by the European Central Bank.
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