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Another 6 join CSE’s Central Register

According to paragraph (1) and (3) of article 10 of CSE legislation (Central Depository and Central Register), Laws of 1996 and 2001, the CSE Council announced that it has decided that on 17 December 2001 the titles of Harvest Capital Management Ltd., Perseas Investments Ltd., Finikas Investments Ltd., Knossos Investments Ltd., Cyprus Forest Industries Ltd. and Brainstorm Enterprises Ltd. be included in the Central Register and Depository.

According to provisions of the aforementioned legislation, the CSE Council decided that the following regulations will not apply to the said companies’ titles: Regulations 38,39,40,41,42,44,45,46 of 1995 to 2001 as well as Trading Regulations (GDP 306/99) issued in accordance with article 22 of CSE legislation of 1993 to 2001 which are Regulations 1 to 11 inclusive.

As a result, in accordance with Regulation 6 of aforementioned regulations, the CSE will suspend trading of the said titles for a period of 15 working days, that is from the 26 November to 14 December 2001 inclusive, in order to aid transition to the new system. During the period of suspension of trading no transactions will be allowed based on article 23 of CSE legislation (gratuitous amongst family members, following a court order, death and others). Further, it is clarified that the last day of trading of shares of the aforementioned listed companies through the present system is Friday 23 November 2001.

For all other companies listed on the CSE, the present trading system will apply, except for the 14 already introduced to the new system which are Universal Bank Ltd., CCC Holdings & Investments Ltd., Jumbo Trading Ltd., Actibond Growth Fund Ltd., Confine Investments Ltd., Dome Investments Ltd., K. Michaelides Contractors Ltd., Astra Self Drive Cars Ltd., G.A.P. Vassilopoulos Ltd., Kronos Press Agency Ltd., PSD Investments Ltd., Andreas Coullapides Ltd., Karyes Investments Ltd. and Modestou Sound & Vision Ltd.

The CSE Council noted that from the incorporation of the said titles in the Central Register, existing certificates and confirmations of titles of the above issuers will be cancelled and investors’ share ownership will only be proven through their listing on the Central Register and not through any other certificates issued or may be issued by a listed company. Further, any encumbrances or mortgaging of shares will be listed in the Central Register, this being also their only proof of validity.

Trading of titles listed in the Central Register can only be made through a Depository and Trading Account which investors can open with the Central Register. This procedure is detailed in an investors’ handbook which has been published by the CSE.
Friday, 16 November, 2001 - 10:29