SEC has imposed fine to Company “Hadjiioannou Farm Ltd” for violating Article 67 of the CSE Law regarding transaction with company’s titles from May until August 2001.
During the convention on September 23, 2002 SEC – authorized by Article 38 of the SEC Law – has decided to impose administrative fine to
· Mr. Kostas Hadjigavriel, stockbroker, the amount of CYP 75,000.
· Member C. N Hadjigavriel Stockbrokers LTD the amount of CYP 5,000.
· Member Spidertrade.com Ltd the amount of CYP 30,000.
· Member Lefkonoiko Stockbrokers Ltd the amount of CYP 20,000.
· Mr. Kostas Konstantinou, stockbroker, the amount of CYP 10,000.
as well as the amount of CYP 2,000 to other persons, having discovered that they have violated Articles 67 (a) and (b) of the CSE Law 1993-2002.
SEC has decided to impose administrative fine, as the aforementioned persons have proceeded to transactions with Company’s titles that resulted to the manipulation of the Company’s share price between May and August 2001 and the creation of a false market picture.
SEC – on its decision over the fines – has taken into account the status of each person and their actions after the conduct of investigation.
During the convention on September 23, 2002 SEC – authorized by Article 38 of the SEC Law – has decided to impose administrative fine to
· Mr. Kostas Hadjigavriel, stockbroker, the amount of CYP 75,000.
· Member C. N Hadjigavriel Stockbrokers LTD the amount of CYP 5,000.
· Member Spidertrade.com Ltd the amount of CYP 30,000.
· Member Lefkonoiko Stockbrokers Ltd the amount of CYP 20,000.
· Mr. Kostas Konstantinou, stockbroker, the amount of CYP 10,000.
as well as the amount of CYP 2,000 to other persons, having discovered that they have violated Articles 67 (a) and (b) of the CSE Law 1993-2002.
SEC has decided to impose administrative fine, as the aforementioned persons have proceeded to transactions with Company’s titles that resulted to the manipulation of the Company’s share price between May and August 2001 and the creation of a false market picture.
SEC – on its decision over the fines – has taken into account the status of each person and their actions after the conduct of investigation.
Thursday, 10 October, 2002 - 12:03