7 - 13 March 2001

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35 million shares admitted to MSE

Thirty-five million ordinary shares in Globe Financial Management plc, of a nominal value of two cents and five mils each, have today been admitted to the official list of the Malta Stock Exchange.

Trading in these shares will begin today at l0am. Globe Financial Management chairman Christopher Pace, deputy chairman James Blake, and head of compliance Andrew Hammond will be present at the Malta Stock Exchange.

A company spokesman for Globe explained, "We have worked hard to reach this stage, and view it as another milestone in the development of Globe Financial Management."
Globe Financial Management is the first company to list itself on the Malta Stock Exchange this year.

Franco Xuereb, from the soon to be inaugurated Bank of Valletta Stockbrokers Ltd – sponsoring stockbrokers of the IPO – spoke to The Business Times earlier this week. He explains, "It [the Globe IPO] gave us the right platform and the right timing for us to become known within the stockbroking community and by the public at large.

"The project is a good example of how BOVSL would like relations to be with other competing stockbrokers – a process of collaboration, which is very important to the market. In this case we saw two competitors collaborating for an eventual IPO, which is extremely positive and we would like to see the market develop further in this respect.

"The Globe IPO was a classic example of how players in the same market can co-operate for the common good. We hope to see much more of this in the near future."

The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075 | e-mail: editorial@networkpublications.com.mt