The Cyprus Stock Exchange (CSE) has announced the suspension of trading for several listed companies on both the Regulated Market and the Emerging Companies Market, due to their failure to submit and publish their annual financial reports for the year ending December 31, 2023.
The CSE reported that, following its previous announcement on May 16, 2024, trading for the following companies on the Regulated Market will be suspended starting August 21, 2024.
The affected companies include A. Tsokkos Hotels Public Ltd, Dome Investments Public Company Ltd, Unifast Finance & Investments Public Company Ltd, and Karyes Investment Public Ltd.
According to the announcement, the suspension is in accordance with Article 183 of the Cyprus Stock Exchange Law, which stipulates that if a listed company fails to comply within three months of being moved to the Surveillance Market due to the non-submission of financial results, the CSE will proceed with trading suspension (Circulars CSE 01-2018 and 02-2018, dated January 23, 2018).
Moreover, the announcement said that the suspension will remain in effect for two months, until October 21, 2024, or until the companies submit the required financial information earlier.
Additionally, following the May 16 announcement, the CSE has also suspended trading for several companies listed on the Emerging Companies Market, effective August 22, 2024.
These companies include Mr. Pengu Public Company Ltd, Rianeson Investments Plc, G.A.P. Vassilopoulos Public Ltd, Meditrina Cyprus Plc, and The Reputation Exchange Plc.
The announcement also noted that this decision is in accordance with Article 183 of the Cyprus Stock Exchange Law.
This article stipulates that companies failing to submit and publish their financial reports within three months of being flagged on trading boards and price lists on the Emerging Companies Market will face trading suspension, as outlined in Circulars CSE 01-2018 and 02-2018 dated January 23, 2018.
Finally, the CSE said that “the trading suspension for these Emerging Companies Market companies will be enforced for two months, until October 22, 2024, or until compliance is achieved”.
