MLC new chairman

In separate company announcements issued this week Maltacom plc stated that the government has appointed Sonny Portelli as non-executive chairman of the company with effect from December 15 and the divestment of its 0.20 per cent shareholding (198,570 shares) in Inmarsat Ventures plc, which carried a book value of Lm449,656, at USD15 per share.

Trading in Maltacom opened at Lm1.011 this week, at par with the previous closing price, and went on to close yesterday's session at Lm1.005, representing a drop of 0.593 per cent. Weekly turnover amounted to 5,080 shares spread over 11 deals. At the close of business yesterday best bids for 2,000 shares at Lm1.003 and best offers of 1,740 shares at Lm1.005 were still unsatisfied.

Bank of Valletta shares opened the week's trading at Lm2.549 and went down to close at Lm2.451. This represented a drop of 9c9 on the previous week's closing price. Total turnover amounted to 9,268 shares changing hands over 13 deals. Following yesterday's trading session best bids for 180 shares at Lm2.451 and best offers of 920 shares at Lm2.494 remained outstanding.

In a company announcement issued yesterday, the board of directors of Bank of Valletta plc announced that all the resolutions forwarded to the recently held annual general meeting have been approved. Among these was the payment of a gross dividend of 11 cents per share, equal to a total payment of Lm6,095,808.51.

HSBC shares saw trading open on Monday at Lm5.40, went down to a weekly low of Lm5.35 before closing yesterday's session at Lm5.45. This was up by 4c on the previous reading. Fifteen deals were struck during the week, over which 4,780 shares changed hands. After yesterday's session drew to a close, 3,910 shares at Lm5.40 and 3,430 shares at Lm5.45 were the best outstanding bids and offers respectively.

FIMBank plc announced this week that the board of directors shall be meeting on February 28 to approve the annual accounts and consider the payment of a dividend, if any.

On Tuesday, 1,665,176 ordinary shares of a nominal value of 25c of SanTumas Shareholdings plc, a close-ended Collective Investment Scheme, have been admitted to the Malta Stock Exchange Official List, with trading therein commencing on Wednesday. During the week 1,140 shares changed hands over three deals, all struck at Lm0.83.

The other equities which traded during the week appear below, followed by the range in which trading took place: 1,000 Lombard Bank shares at Lm3.70; 197 International Hotels Investments shares at €0.87; 15,600 Plaza Centres shares at Lm0.60; 3,000 FIMBank shares at USD0.93; 1,300 Malta International Airport shares between Lm0.65 and Lm0.68 and 18,000 Datatrak Holdings shares at Lm0.25.

Total Malta Government Stock turnover amounted to a nominal value of Lm901,400 being traded in 75 deals over 14 different stocks. Of these a nominal value of Lm631,900 changed hands in the 4.8 per cent MGS 2016 (II) in 51 deals. Trading over the week in Corporate Bonds was made up of a total value of Lm127,012.

The Malta Stock Exchange Share Index decreased by 25.468 points or 1.19 per cent over the week and now stands at 2,106.821.