The European Investment Bank, an autonomous supranational public institution owned by the member states of the European Union, announced an issue of Lm10 million worth of bonds yesterday. EIB has a rating of AAA, the topmost rating given by credit rating agencies. These bonds, which will be issued at par, have a coupon of 3.8 per cent and will mature on March 30, 2009. Subscription lists will open on Monday, March 8 and close on Friday, March 12, or earlier at the discretion of the issuer.
Meanwhile, trading in Bank of Valletta shares opened at Lm3.15 on Monday, ranged between a weekly high of Lm3.30 and a low of Lm3, before closing yesterday's session at Lm3.10. Turnover amounted to 71,104 shares changing hands over 92 deals. Following the close of business yesterday, best bids for 3,600 shares at Lm3.02 and best offers of Lm3,478 shares at Lm3.12 remained outstanding.
Maltacom shares opened at Lm1.45 on Monday and went down to close at Lm1.406 yesterday. During the week trading in the equity reached a high of Lm1.49 and a low of Lm1.383. One hundred and twenty deals were struck during the week, over which 137,550 shares changed hands. After yesterday's session drew to a close 2,993 shares at Lm1.406 and 1,200 shares 1.424 were the best outstanding bids and offers respectively.
In a company announcement issued yesterday, the board of directors of Maltacom plc stated that it has decided to commence the process which will lead to the merger by acquisition of its fully owned subsidiary Maltacom College International Limited.
In another company announcement issued yesterday, Maltacom plc stated that at the closure of nominations of candidates for the election of directors it had received and accepted, after due verification, the following four candidates: Mr Peter J. Baldacchino, Mr John Ellul Vincenti, Mr Stephen Muscat and The Noble Paul Testaferrata Moroni Viani. Three board directors will be elected from the four candidates, during the forthcoming annual general meeting.
HSBC shares closed the week back under the Lm6 mark, when the last deal yesterday was struck at Lm5.994. Previously trading opened at Lm6.03 on Monday and ranged during the week between Lm6.044 and Lm5.95. Weekly turnover amounted to 33,488 shares spanning 47 deals. Following the session's end yesterday, 1,400 shares at Lm5.90 were the best bids outstanding, while 4,434 shares at Lm5.98 were the best unsatisfied offers.
In a company announcement issued on Wednesday, Lombard Bank Malta p.l.c. stated that the attribution price at which new shares are to be issued to shareholders in lieu of dividends will be Lm3.705. This has been established on the trade weighted average price of the bank's shares for the three months up to and including February 18.
In a company announcement issued yesterday, the board of directors of The Global Financial Services Group plc stated that with effect from March 1 Mr Adrian Bonett has been appointed chief operating officer and a member of the executive committee of the group. Mr Bonett will replace Mr William Van Buren, who will resign his post as chief operating officer and chief executive officer with effect from 1st March 1.
The other equities which traded during the week appear below, followed by the range in which trading took place; 1,798 Lombard Bank shares at Lm4; 8,015 Middlesea Insurance shares between Lm2.13 and Lm2.20; 790 Simonds Farsons Cisk shares at Lm0.90; 28,224 International Hotels Investments shares at €0.81; 39,425 Malta International Airport shares between Lm0.78 and Lm0.81; 1,280 Global Financial Services Group p.l.c. shares at Lm0.90; 410 San Tumas Shareholdings shares at Lm0.75 and 26,000 Datatrak Holdings p.l.c. shares between Lm0.23 and Lm0.24.
Total Malta Government stock turnover amounted to a nominal value of Lm1,713,400 being traded in 70 deals over 17 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm104,698.
The Malta Stock Exchange share index decreased by 17.152 points or 0.7 per cent over the week and now stands at 2,434.818.