The treasury has announced the issue of an amount not exceeding Lm21 million 5.7 per cent Malta Government Stock 2012 (third issue). Applications open on Monday, September 23 at 8.30 a.m. and close at noon on Wednesday, September 25, or earlier at the discretion of the accountant general.
Simonds Farsons Cisk plc has published details of two bond issues planned for October, in a company announcement issued on Wednesday. One will be for Lm1.5 million 6.25% Bonds 2006-8 and the other for Lm3 million 6.6% Bonds 2010-12, both at a nominal value of Lm100 issued at par.
In the event of over-subscription, the company is reserving the option to increase the amounts in issue by an aggregate of Lm1.5 million in either or both of the bonds. Holders of the Simonds Farsons Cisk 6% (net) Preference Shares 2001-03 which are being redeemed on October 22 will be given the opportunity to subscribe and exchange their holdings of preference shares for the new bonds. Subscription lists for the general public will open on October 17 and close on October 23 or earlier in the event of an over-subscription.
The Farsons Group has announced the interim financial results for the first six months of the current financial year. These show a turnover figure of Lm12,358,000 (six months to July 2001: Lm11,748,000), profit attributable to shareholders of Lm618,000 (six months to July 2001: Lm361,000), and earnings per share of 2c2 (six months to July 2001: 1c1).
Monday was a slow start to the week for traded equities, with only nine deals being struck. Of these, Maltacom plc claimed three, with trading opening at Lm1.09 and going down to close at Lm1.089, for a total turnover of 1,050 shares. Volume increased substantially the following day, with 56,063 shares changing hands over 29 deals. Trading opened at Lm1.08 and went down to Lm1.05, ending the day 3c9 lower on the previous reading. On Wednesday another three deals were struck, with trading ranging between the opening price of Lm1.04 and Lm1.03, the closing price. 9,210 shares changed hands during the session. On the same day another 16 deals for a total of 48,470 shares were struck in the put-through market at Lm1.05. The decrease in Maltacom's share price continued on Thursday as the session opened at Lm1.00, went down to Lm0.98 before coming up again to close at Lm1.00.
Thirty-six deals were struck, over which 20,690 shares changed hands. Friday's session saw much movement in traded prices. The first deal was struck at Lm0.98, following which trading ranged between Lm0.95 and Lm1.00, before finally closing at Lm0.99, ending the week 9.174 per cent lower than the opening level on Monday. By far the most traded equity this week, Maltacom shares accounted for 85 per cent of the total equity turnover. Following Friday's session, best bids for 500 shares at Lm1.00 stood against best offers of 6.160 shares at Lm1.03.
Bank of Valletta shares first traded on Wednesday this week, during which session 4,000 shares changed hands over six deals. Trading opened at Lm2.49 and closed at Lm2.50, unchanged from the previous reading. Thursday saw one deal for 800 shares being struck at Lm2.47, bringing the price down by 3c. On the same day another deal for a total of 3,500 shares was struck in the put-through market at Lm2.50. Another decrease in the price was registered on Friday as trading opened at Lm2.469 and closed at Lm2.45. Five deals were struck, over which 2,700 shares changed hands. 1,000 shares at Lm2.401 and 2,000 shares at Lm2.45 were the best outstanding bids and offers respectively at the close of business on Friday.
One deal for 350 shares saw HSBC Bank Malta lose 10c on its equity's closing price following its first trade on Tuesday. This was struck at Lm3.80. The following trading session saw the equity lose another 5c as three deals were struck between the opening price of Lm3.751 and the closing price of Lm3.75, for a total turnover of 1,050 shares. However, Thursday's session (the last for the equity) saw all the week's losses reversed as trading opened at Lm3.75 and went straight up to close at Lm3.90. Nine deals were struck over which 1,950 shares changed hands. As the session drew to a close, 1,300 shares at Lm3.75 were the best bids outstanding, while 3,000 shres at Lm3.80 were the best unsatisfied offers.
Meanwhile, in a company announcement issued on Friday, HSBC Bank Malta stated that Mr Jeremy Hunt, director and chief operating officer, is to relinquish his post with effect from October 4, as he has been appointed chief executive officer of HSBC New Zealand.
In a company announcement issued on Wednesday, Global Financial Services Group plc stated that September 26 is the date fixed for a board meeting at which the interim profits and losses of the company as at June 30, 2002 will be approved for publication.
The other equities to trade during the week were Global Financial Services Group plc, which saw three deals being struck between Lm0.18 and Lm0.159, over which 5,500 shares changed hands; International Hotels Investments plc, which saw five deals being struck between Lm0.86 and Lm0.85, over which 5,600 shares changed hands; Lombard Bank, which saw one deal being struck in the put-through market at Lm3.58, over which 1,699 shares changed hands; and Simonds Farsons Cisk plc, which saw three deals being struck between Lm0.67 and Lm0.68, over which 780 shares changed hands.
Trading over the week in corporate bonds was made up of the following:
¤ Four deals struck in the 8 per cent Bank of Valletta 2010 (USD), in which a nominal value of USD161,500 changed hands between USD109.70 and USD110.00.
¤ One deal struck in the 6.5 per cent Corinthia Finance 2010 (EUR), in which a nominal value of E4,300 changed hands at U100.00.
¤ One deal struck in the 7.25 per cent HSBC 2005, in which a nominal value of Lm3,000 changed hands at Lm105.25.
¤ Two deals struck in the 5 per cent IHI Conv. Bond 2010, in which a nominal value of Lm40,700 changed hands between Lm99.00 and Lm100.00.
¤ Two deals struck in the 6.7 per Tumas Investments 2010/12, in which a nominal value of Lm3,000 changed hands at Lm100.20.
The MSE share index decreased by 54.738 points over the week, equivalent to 2.93%, and now stands at 1,811.886.
Total Malta Government Stock turnover amounted to a nominal vlaue of Lm7,185,700 struck in 35 deals over 15 different stocks. Of these, Lm6,567,900 were struck in the 7 per cent MGS 2003 alone.