The share price of GO plc tumbled a further 2% during this morning’s session to close at the €1.40 level after momentarily touching a new all-time low of €1.399 on heavy volumes totalling 52,450 shares. GO’s equity dropped steadily following the 2010 full-year results publication on 15 March which revealed a 50% cut in dividends to €0.05 net per share. Following today’s downturn, GO’s shares now rank as the second worst performing equity since the start of 2011 with a decline of 27.7%. The equity turns ex-dividend as from Thursday 5 May ahead of the Annual General Meeting scheduled to be held on 8 June.
Likewise, Medserv plc shares recovered from a fresh 18-month low of €3.98 to close at the €4.00 level which still represents a 4.8% drop from the previous close. Medserv’s equity was active for the first time in almost three months as two trades totalling 2,400 shares were affected today. Offers are already placed at the €3.98 level. Last week Medserv held its Annual General Meeting during which the Directors commented that despite the ongoing turmoil in Libya and the subsequent closure of the Misurata base, Medserv’s performance is improving in 2011 as it is servicing existing and new clients from its Malta base. Moreover, the Directors also indicate the strong possibility of an interim dividend although this will depend on the prospects for the second six months of 2011.
On the other hand, fresh demand for shares of Simonds Farsons Cisk plc emerged helping the share price rise by 5.9% this morning to regain the €1.80 level across four trades totalling 10,000 shares. The upturn in the equity of Farsons follows the publication of the January 2011 full-year results last week revealing a 36.2% rise in profitability to €3.7 million and a record dividend of €0.0667 per share. The equity turns ex-dividend as from 20 May.
In the banking sector, the share prices of the two large banks both recovered marginally. Bank of Valletta plc edged 0.5% higher to €2.895 across nine trades totalling 12,560 shares while HSBC Bank Malta plc gained 0.3% to €2.92 across one trade of almost 6,000 shares.
Meanwhile, the share price of RS2 Software plc declined by 2.1% to €0.519 despite still trading with the entitlement to the net dividend of €0.032 per share. A single trade of 15,000 shares was executed during this morning’s session. The shares will trade ex-dividend as from next Thursday 28 April.