12/11/2010 14:39
The Cyprus Securities and Exchange Commission decided to impose fines of €65 thousand to Advantage Capital and Leda Investment for not publishing their financial results on time.
To Advantage Capital, it imposed €30 thousand and to Leda Investments €35 thousand since they failed to publish their Annual Report and Accounts for the year ended December 31, 2009 within the deadline, that is, until April 30, 2010.
In order to take this decision, the Commission took into account the gravity given in securing that the persons covered by the Law comply fully with its provisions.
Also, it took into consideration the seriousness given in the obligation to release the Annual Report on time, which promotes transparency and contributes to the proper operation of the stock market, since it informs the investors on the financial condition and performance of the issuer for the financial year.
The SEC took into account the fact that Advantage Capital Holdings Ltd and Leda Investments Public Company Ltd have not published their Annual Report and Accounts for the year ended December 31, 2009 yet.
Advantage Capital Holdings Plc has not committed a similar breach in the past.
Leda Investment Public Company Ltd has committed a similar breach in the past in relation to the Annual Report and Accounts for the year ended December 31, 2008, when it was imposed an administrative fine.
To Advantage Capital, it imposed €30 thousand and to Leda Investments €35 thousand since they failed to publish their Annual Report and Accounts for the year ended December 31, 2009 within the deadline, that is, until April 30, 2010.
In order to take this decision, the Commission took into account the gravity given in securing that the persons covered by the Law comply fully with its provisions.
Also, it took into consideration the seriousness given in the obligation to release the Annual Report on time, which promotes transparency and contributes to the proper operation of the stock market, since it informs the investors on the financial condition and performance of the issuer for the financial year.
The SEC took into account the fact that Advantage Capital Holdings Ltd and Leda Investments Public Company Ltd have not published their Annual Report and Accounts for the year ended December 31, 2009 yet.
Advantage Capital Holdings Plc has not committed a similar breach in the past.
Leda Investment Public Company Ltd has committed a similar breach in the past in relation to the Annual Report and Accounts for the year ended December 31, 2008, when it was imposed an administrative fine.
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