RS2 Software reaches new all-time high

Sustained demand for the shares of RS2 Software plc lifted the equity by a further 1.1% to a new all-time high of €1.87 across two deals totalling 31,000 shares. Over the weekend, shareholders received the circular issued in connection with the Extraordinary General Meeting (EGM) scheduled to be held on Wednesday 2 October for shareholders to consider and approve a number of changes to the Memorandum and Articles of Association (MAA) of the Company. These changes were requested by Barclays Bank plc as part of the agreement with ITM Holdings to acquire a 10% shareholding in RS2. Barclays subsequently intends to acquire a further 10% stake through purchases on the secondary market.

Various other equities advanced during this morning’s session. Bank of Valletta plc edged 1.7% higher to regain the €2.38 level across eleven trades totalling 24,497 shares. GO plc recovered from an intra-day low of €1.481 to end the session 0.7% higher at the €1.51 level on volumes of 12,700 shares.

MIDI plc also recovered some of its recent declines with a 6.8% increase to the €0.235 level across three deals totalling 27,000 shares. The only other positive performing equity was Island Hotels Group Holdings plc with a 0.5% increase to the €0.849 level on a small trade of 650 shares.

On the other hand, HSBC Bank Malta plc once again slipped to a fresh 14-month low before partially recovering to end the session 0.4% lower at the €2.50 level. A total of 53,180 shares changed hands today. Also in the financial sector, Middlesea Insurance plc’s equity reversed yesterday’s 5.9% increase to close at the €0.80 level on a small deal of 250 shares.

Meanwhile, Crimsonwing plc held on to the €0.74 level on volumes of 31,195 shares.

On the bond market, the Rizzo Farrugia MGS Index retreated by 0.1% to 1,020.373 points as Eurozone yields regained the 2.03% level as concerns over the conflict in Syria eased after the Syrian government was receptive to the proposal by Russia to give up its chemical weapons. This initiative could avoid US military action in Syria.