1. During the conventions held on December 16 and 19, 2002, the CSE Council has decided the following:
(a) Withdrawal of listing application
Stefanos Thompson Communications Ltd has withdrawn the application for listing its titles in the CSE. The CSE Council has accepted the application.
(b) Frindlays Investments Ltd
The CSE Council - authorized by Regulation 110 (a) of the About Securities of the CSE Laws and Regulations – has decided to delist Frindlays Investments Ltd from the CSE, as the Company has not complied with the obligations of the CSE Laws.
(c) Amendment of Regulation 12.1 of the CSE Regulations
The CSE council has decided to amend Regulation 12.1 of the CSE Regulations so that every CSE Member is represented by at least one representative, who is to be in charge of the other users of the Member.
The decision will be effective as long as this has been published in the Official Newspaper of the Cyprus Republic and following SEC’s approval.
(d) Corporate Governance Code
The CSE Council has clarified the provisions of the Corporate Governance Code issued on September 2002 with regard to the listed investment companies under the Authorized Investment Companies sector.
Specifically, in part B of the Code with reference to the fees for Directors in the cases that the Authorized Investment Companies have an Fun Manager and not Executive Directors, the provisions of the Code that concern the Executive Directors will apply to the Fund Manager.
The same will also apply for paragraphs C.2.3 and D.2.2 of the Corporate Governance Code.
(a) Withdrawal of listing application
Stefanos Thompson Communications Ltd has withdrawn the application for listing its titles in the CSE. The CSE Council has accepted the application.
(b) Frindlays Investments Ltd
The CSE Council - authorized by Regulation 110 (a) of the About Securities of the CSE Laws and Regulations – has decided to delist Frindlays Investments Ltd from the CSE, as the Company has not complied with the obligations of the CSE Laws.
(c) Amendment of Regulation 12.1 of the CSE Regulations
The CSE council has decided to amend Regulation 12.1 of the CSE Regulations so that every CSE Member is represented by at least one representative, who is to be in charge of the other users of the Member.
The decision will be effective as long as this has been published in the Official Newspaper of the Cyprus Republic and following SEC’s approval.
(d) Corporate Governance Code
The CSE Council has clarified the provisions of the Corporate Governance Code issued on September 2002 with regard to the listed investment companies under the Authorized Investment Companies sector.
Specifically, in part B of the Code with reference to the fees for Directors in the cases that the Authorized Investment Companies have an Fun Manager and not Executive Directors, the provisions of the Code that concern the Executive Directors will apply to the Fund Manager.
The same will also apply for paragraphs C.2.3 and D.2.2 of the Corporate Governance Code.
Friday, 20 December, 2002 - 12:15