22/11/2005 10:43
In her annual report for 2004, the General Auditor of the Republic, Chrystalla Georkatzi referred once again to the viability of the Cyprus Stock Exchange. According to the report, the CSE must review an older proposal for the introduction of a group that will observe the financial condition of the CSE with the participation of certain Council members.
As for the common CSE-ASE platform, Mrs. Georkatzi said that the CSE proceeded to the signing of the agreement without having a complete techno-economic study (prepared by an independent firm) on its disposal.
As regards to CSE’s re-housing, the report emphasizes that the stock exchange is hosted in IMC Court since November 2000 with an annual rent of £340,164. The IMC Court has a temporary urban planning permit for 2 years especially to host the CSE. However, this permit expired in November 2002 and the CSE is still in the building, despite its unsuccessful efforts to buy or rent it.
As for the common CSE-ASE platform, Mrs. Georkatzi said that the CSE proceeded to the signing of the agreement without having a complete techno-economic study (prepared by an independent firm) on its disposal.
As regards to CSE’s re-housing, the report emphasizes that the stock exchange is hosted in IMC Court since November 2000 with an annual rent of £340,164. The IMC Court has a temporary urban planning permit for 2 years especially to host the CSE. However, this permit expired in November 2002 and the CSE is still in the building, despite its unsuccessful efforts to buy or rent it.
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