Cyprus Stock Exchange imposes measures on companies for missed financial reports
What happened
The Cyprus Stock Exchange took action against seven companies listed on its Emerging Companies Market after they failed to submit half-yearly financial reports by the September 30 deadline. The exchange decided to display a special non-compliance marking on price bulletins for Cyprus Development Bank Public Company Ltd and iDNA Genomics Public Ltd. The shares of the remaining five companies—G.A.P. Vassilopoulos Public Ltd, Prospertree Plc, Rianeson Investments Plc, The Reputation Exchange Plc, and Mr Pengu Public Company Ltd—will remain suspended from trading.
From cyprus-mail.com
Why it matters
The failure of these companies to comply with reporting obligations impacts the market operations of the listed firms. The Cyprus Stock Exchange enforces rules governing the suspension and delisting of securities on its trading boards.
From cyprus-mail.com
Who's involved
- Cyprus Stock ExchangeThe stock exchange that took action against the non-compliant companies
- Cyprus Securities and Exchange CommissionThe government agency that formally regulates the Cyprus Stock Exchange