International Hotel Investments plc held an extraordinary general meeting during which shareholders approved resolutions relating to the four per cent bonus issue (1 new share for every 25 shares held) which is eligible to those shareholders on the company’s register as at December 31, together with IHI’s offer to all shareholders to buy-back these shares at the nominal value of €1.

Group chairman Alfred Pisani announced that those shareholders eligible for the bonus shares will receive their registration advice confirming allotment of these shares on Tuesday. Shareholders will subsequently have until September 29 to elect to sell these shares to IHI at €1 per share.

Meanwhile, on the secondary market, the share prices of the two large banks had mixed performance. While the share price of HSBC Bank Malta plc wiped out yesterday’s gain and dropped one per cent back to the €2.87 level, Bank of Valletta plc gained 1.2 per cent to the €3.30 level.

Malta International Airport plc edged 0.65 per cent higher on a single trade of 7,868 shares with the share price of Plaza Centres plc shares gaining 1.2 per cent today to close at the €1.65 level on fresh demand totalling 36,000 shares, Since the publication of the company’s half-year results on July 28, Plaza’s share price climbed by 8.8 per cent.

Malta Government Stocks rounded-off a very positive week with further gains during this morning’s session. The 20-year bonds touched a new all-time high of 104.60 per cent on significant volumes amounting to over €3.2 million (nominal). During the past five trading sessions, activity in the 5.25 per cent MGS 2030 issues amounted to €16 million.

On the corporate bond market, Simonds Farsons Cisk plc announced that it will be redeeming the outstanding €1.7 million of the 6.6 per cent Bonds which mature on November 2. Earlier this week, Bank of Valletta plc also stated that it will be redeeming its US$35.1 million eight per cent bonds on October 2.

www.rizzofarrugia.com

See also:

http://www.timesofmalta.com/articles/view/20100827/business/international-bond-market-roundup

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