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CSE: APC & FBI new FTSE companies – SUP & GSL delisted

The CSE Council would like to inform investors on the new composition of the FTSE/CySE20 Index, pursuant to the evaluation carried out on Tuesday, May 11, 2004 by the FTSE/CySE20 Advisory Committee with the participation of a representative of the FTSE International. The Advisory Committee has reviewed the operation of the index for the six month period between October 2, 2003 and March 31, 2004. It is reminded that the index consists of 20 selected titles of the CSE, which comprise a representative sample of the Cyprus stock market.

It has been ascertained that the index has achieved its aim, that is, to constitute a reliable tool for investors in evaluating our market. It is noted that companies which comprise the index, as well as the other listed companies whose shares are not included in the index, are under constant review by the Advisory Committee, while pursuant to the Ground Rules, several adjustments have periodically taken place to ensure the continuous implementation of the objective criteria for their inclusion in the index

Following evaluation, the companies included in the index are attached.

The newly-listed companies in the FTSE/CySE20 Index are “A. Panayides Contracting Ltd” and “Alkis H. Hadjikyriakos (Frou Frou Biscuits) Ltd”, while those delisted from the index are “Suphire Holdings Public Ltd” and “Golden Sun Leisure (Cy) Ltd”.

The figures for the dispersion of the share capital of the listed companies are based on data signed by the Board of Directors of all listed companies. In case that the said data is not accurate, the Index will be subject to adjustments. The revised index will be effective as from June 1, 2004.

The Advisory Committee has also decided to adopt the proposal concerning the introduction of the Reserve List, which contains the next five selectable and larger in capitalization shares that were not included in the index during the date of its evaluation.

The list will be useful for cases when for any reason and pursuant to the Ground Rules there is a need to replace one share with another during the period of six months and before the review of the index.

The Reserves List is attached.

The CSE Council would like to clarify that the selection of the 20 companies that constitute the index does not entail their evaluation with regard to their quality and activities, but is strictly an evaluation pursuant to technical criteria and the Ground Rules, applied on an international basis by FTSE International so that there is uniformity for comparison purposes.
Tuesday, 11 May, 2004 - 14:17