You are here

The Supreme Court rejected SFS’s appeal on SEC’s decision for the PO to Kyknos

The Securities and Exchange Commission would like to inform investors the following:

In appeal No 82/2001, Sharelink Financial Services Ltd has appealed against SEC’s decision that:

1. Sharelink Financial Services Ltd has proceeded to the purchase of shares of Kyknos from the stock market on December 21 and 22, 2000 with more favourable terms than those outlined in the document of the public offer, through persons that were considered by the SEC to have acted pursuant to the interpretation of Regulation 2 of the Merger and Acquisition Regulations.

2. The Public Offer of Sharelink Financial Services Ltd in relation to Kyknos is automatically revised to CYP 1.21 cash for the shares of Kyknos and CYP 0.38 cash for the warrants of Kyknos, pursuant to Regulation 16 of the Merger and Acquisition Regulations.

The Supreme Court has rejected the appeal on July 17, 2003 as unacceptable.
Wednesday, 23 July, 2003 - 14:33