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CSE: Suspension of trading of Phil. Andreou continues until SEC’s reply

The CSE Council has requested the approval of the Cyprus Securities and Exchange Commission based on the provisions of its Law, for the delisting of the titles of Phil. Andreou Public Ltd.

The CSE Council has taken this decision in accordance with the powers conferred by Article 178 (1) of the Stock Exchange Law, as it believes there are no longer requirements for the smooth operation of the stock market on the titles and significant continuous or periodic obligations are not observed under the provisions of the Law and regulations of the Stock Exchange [(KDP 326/2009) (as amended)]. The CSE circular to the listed companies, No. 15-2012, dated November 9, 2012, is relevant.

Specifically, the Company has not kept its obligation for the submission and publication of:

a)The Annual Financial Report for the year ended 31/12/2013,
b)The Interim Financial Report for the period ended 30/6/2014.

In addition, it is noted that the Company has not submitted the indicative results for the year ended 31/12/2014.

It is further noted that the Company’s titles will continue to be under suspension of trading, pending a reply from the Cyprus Securities and Exchange Commission.
Thursday, 2 April, 2015 - 14:52