The CSE Council decided, pursuant to Article 178(1) of the CSE Law and in agreement with the Cyprus Securities and Exchange Commission, to delist the movable securities of Suphire Holdings Public Ltd from the CSE in view of the fact that there are no longer conditions for the smooth operation of the stock market on the Company’s titles and its constant obligations are not observed, putting the investors’ interest at stake.
Specifically, the Council believes that the Company does not comply with the necessary guarantees for the protection of the investors [Paragraph 3.1.1(i) of the CSE Law 326/2009 (as amended)] as soon as the independent auditors do not express opinion on its financial statements over the last seven years and since there is significant doubt as to the Company’s/Group’s ability to continue as going concern.
The trading of the securities will be suspended, pursuant to Article 183 of the CSE Law, from January 29, 2013 to February 1, 2013 (included), until the clearing of all transactions.
It is noted that the delisting of the Company’s securities from the OASIS trading system will be effective from February 4, 2013.
Specifically, the Council believes that the Company does not comply with the necessary guarantees for the protection of the investors [Paragraph 3.1.1(i) of the CSE Law 326/2009 (as amended)] as soon as the independent auditors do not express opinion on its financial statements over the last seven years and since there is significant doubt as to the Company’s/Group’s ability to continue as going concern.
The trading of the securities will be suspended, pursuant to Article 183 of the CSE Law, from January 29, 2013 to February 1, 2013 (included), until the clearing of all transactions.
It is noted that the delisting of the Company’s securities from the OASIS trading system will be effective from February 4, 2013.
Monday, 14 January, 2013 - 14:41