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New Marathon: Small shareholders sound SOS

10/06/2003 10:31
The delistment of New Marathon from the Cyprus Stock Exchange seems almost inevitable, as the company continues not to submit its financial statements to the CSE.

However, after receiving a number of phone calls by the small shareholders, the CSE Council has second thoughts on the future of New Marathon, taking into account the CSE legislation, sources told StockWatch.

The CSE Council in cooperation with the Securities and Exchange Commission will examine the proposals of the shareholders to allow the company to either proceed to buyback or acquire the shares from its shareholders. The latter insist that the delistment of New Marathon would leave them fully exposed.

It is noted that the administration of New Marathon has already stated its views before the CSE Council. It is possible, however, that the CSE Council will call the company once again to examine the situation jointly and take the relevant decisions.