City Share Price Movements (Week Ending 15.6.07)
This is the weekly article charting Manchester City Plc's share price movements during the last week. The price doesn't usually move very much and not many shares are usually traded, so you can pick up here at the end of each week our summary of the week gone by.
Last week saw a little more share activity than in recent weeks and the share price dropped 5p to close the week at 40p.
The week started with Thaksin Shinawatra and his wife having 21 bank accounts frozen. It was unclear if these bank accounts included other family members or associated. In response to those developments, Manchester City Plc confirmed that they were investigating how they may impact on Shinawatra's possible bid for the company.
By the end of the week there was no further news on progress although there was an interesting announcement which was picked up by many City supporters but not the media.
Anyone following the takeover over the last six or seven weeks, would be aware of Thaksin Shinawatra's Thai lawyer making regular pronouncements about the takeover bid and progress being made. Several times he has mentioned that the takeover should be completed within days or a week etc. Clearly, such pronouncements have not escaped the Takeover Panel's eyes resulting in Thaskin Shinawatra confirming that "Seymour Pierce Limited and Dr Thaksin wish to clarify that Noppadom Pattama is not authorised to speak on behalf of Dr Thaksin on matters governed by the City Code on Takeovers and Mergers and accordingly all of the statement made by Noppadom Pattama should be disregarded." The full announcements can be read here & here.
What lies in store for this week? Who knows but it is becoming clear that something needs to happen soon.
Finishing price (mid): 38p
Bid price: 33p
Offer price: 43p
Share price movement for the week:-
Total volume for the week: 2,800
All information taken from Plus Markets Group