City Share Price Movements (Week Ending 8.6.07)
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.
Today saw alot of activity and interest in the current situation but for all the wrong reasons. This morning, Thaksin Shinawatra's Thai lawyer confirmed that Shinawatra would apply to the Bank of Thailand to withdraw funds to purchase Manchester City Plc. A few hours later the Thai Government confirmed that they had frozen 21 bank accounts of Thaksin Shinawatra and his wife whilst also confirming that they were seeking a freeze on their worldwide bank accounts.
In response to this latest development, Manchester City Plc confirmed that they were investigating how today's developments may impact on Shinawatra's possible bid for the company. Interestingly, Manchester City Plc confirmed that they were still talking to other interested parties. If ever there was a time for the "mystery Americans" to show themselves perhaps it is now?
The rest of this week promises to be an interesting one.
Finishing price (mid): 40p
Bid price: 35p
Offer price: 45p
Share price movement for the week:-
Total volume for the week: 16,264
All information taken from Plus Markets Group