CySEC has suspended the trading of the shares of 8 companies at the Cyprus Stock Exchange citing their failure to provide key information to investors.
July 1, 2021, | AtoZ Markets – The Cyprus Securities and Exchange Commission (CySEC) has alerted the investing public that it has suspended the trading of the shares of 8 companies at the Cyprus Stock Exchange (CSE).
CySEC suspends 8 companies from CSE trading
According to the announcement, at its meeting of June 29, 2021, CySEC decided, based on the authority given to it by Article 70 (2) (m) of the Investment Services and Activities and Regulated Procurement Law of 2017, to request from the CSE Council to suspend trading of the securities of the following companies:
1. Power Investment Public Ltd,
2. Regallia Holdings & Public Investments Ltd,
3. Aiantas Investment Public Ltd,
4. Harvest Capital Management Public Ltd,
5. SFS Group Public Company Ltd,
6. D.A.P.P. Digital Access Pass PTE Investments Public Company Ltd (formerly Evolution Development
7. A.L. Prochoice Group Public Ltd and
8. Triaena Investments Public Company Ltd.
The CySEC reached the above decision because 7 of the above-listed companies have not complied with their obligation to publish their Annual Finance Report for the year ended December 31, 2019, of their Semi-Annual Finance Report for the period ended June 30, 2020, and their Annual Finance Report for the period ended December 31, 2020.
Meanwhile, the company Triana Investments Public Company Ltd has not complied with its obligation to publish its Semi-Annual Financial Report for the period ended on June 30, 2020, and its Annual Financial Report for the period ended on 31 December 2020.
As a result, investors are not provided with the required information about the financial situation of these companies.
CySEC decided to request the suspension of the trading of the companies’ securities at CSE from July 1, 2021, until their compliance and no later than August 31, 2021.
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