GO plc's share price dropped by 5.6% to a new all-time low of €0.85 across four trades totalling 14,200 shares during trading on the Malta Stock Exchange today. Shareholders are still awaiting an update from (Greek subsidiary) Forthnet in view of the upcoming deadline by its bankers to raise €30 million by tomorrow. Earlier this month Forthnet's shareholders rejected all the resolutions, including a €30 million rights issue, on the agenda of an Extraordinary General Meeting.
HSBC Bank Malta plc and FIMBank plc also closed in negative territory as the two equities eased marginally lower on low volumes to close at €2.559 and US$0.765 respectively. Meanwhile Bank of Valletta plc maintained the €2.25 level across five trades totalling 12,366 shares. Last Friday, BOV published its Interim Directors' Statement covering the first quarter of its 2011/12 financial year.
During the period under review, characterised by a continued slowdown in demand for credit, uncertain market conditions resulting in lower fees and commission income and lack of confidence in Eurozone sovereign debt and banking sectors, the Bank registered a net profit similar to...
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