The Cyprus Stock Exchange (CSE), following the decision of the Cyprus Securities and Exchange Commission (CYSEC), decided to continue the trading suspension of the titles of real estate developers Karaolis Group and L.P. Transbeton that specialises in the concrete industry.
The Cyprus Securities and Exchange Commission requested the CSE council to suspend the trading of the titles of these companies on the CSE as of December 15, 2015, until their compliance and until April 30, 2016 at the latest.
According to In Cyprus, the Commission has reached this decision as the companies have still not complied with their obligation to publish their annual financial report for the year ended December 31, 2014 as well as the half-yearly financial report for the period ended June 30, 2015, as a result of which investors are not provided with the required information on the financial situation of the companies.