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On the last trading session of December 2004 the General Price Index of the Main and Parallel Market reached 1012,27 points, representing a relative increase of 0,9%. The value of shares traded presented also a decrease of 38,43% compared to the previous month. It is worth mentioning however, that the highest level the index reached for the month was 1.020,21 points. The other Market Indices reached the following levels: Main Market reached 1015,70, Parallel Market 929,50, Alternative Market 849,61, Investment Companies 932,33 points. On a sectoral level, sub-indices reached the following levels: Banking sector 1029,85, Hotels 862,51, FTSE/CySE20 with 338,50 and finally the FTSE Med 100 reached 6.864,72 points.
Market Capitalization
The market capitalisation of shares (excluding Investment Companies Market) reached £2,08 billion. According to this month’s results, the Main Market accounted for 34,88% of the total market capitalisation, the Parallel Market with 2,76%, the Alternative Market with 8,56%, the Investment Companies Market with 2,55% and the Bond Market with 51,13%. Moreover the total market capitalisation including the Investment Companies Market, Warrants and the Bond Market reached £4,51 billion compared to £4,53 billion the previous month, registering a decrease of 0,62 %.
Transactions
The total value of transactions during the month in review reached £5,22 million, with an average of £237,43 thousand per trading session. The Financials sector contributed 66,31% of the total value traded, which was the highest, whereas the Government Bonds sector had the lowest contribution with 0,00%. Investors primarily focused their interest on the shares of “Bank Of Cyprus Public Company Ltd” and “Cyprus Popular Bank Ltd” with 35,87% and 12,99% respectively.
Members and Listed Companies news
On the 1st of December 2004, after taking into account the fact that Alkioni Fish Farm Ltd and L.Atteshlis Shipping Ltd have failed to comply with paragraph 23, Appendix F, Regulations 61(1) (ic) and 81(1) of the CSE Regulations following their failure to issue their semi-annual report for the period ended 30/6/2004, the CSE Council decided to delist the titles of the above companies from the CSE on December 16, 2004, pursuant to article 64 of the CSE Laws and Regulations 111 and 112 of the CSE Regulations, unless the companies submit their semi-annual, quarterly and annual accounts reports for 2003 by December 15, 2004 at 12.00 pm. It is noted that the CSE Council has requested the consent of the Securities Exchange Commission, which is necessary for the delistment of the companies' titles.
On the 6th of December 2004, Government Treasury Bills 52-week (18/11/2004 - 17/11/2005) of total value £30,000,000, which have resulted from an auction held on November 17, 2004, started trading.
On the 6th of December 2004, 6.00% Government Bonds 3rd Series 2004 - Expiry 2014 with a date of issue 18/11/2004 of total value £20,000,000, which have resulted from an auction held on November 17, 2004, started trading.
On the 6th of December 5.75% Government Bonds of 5-year duration, 1st Series 2004 with a date of issue 24/6/2004 (6th Issue dated 18/11/2004) of total value £46,256,600, which have resulted from an auction held on November 17, 2004, started trading.
On the 6th of December 5.00% Government Bonds of two-year duration with an issue date of 18/11/2004 of total value £40,068,700, which have resulted from an auction held on November 17, 2004, started trading.
On the 10th of December 2004, the CSE announced that the company “G. & K. Exclusive Fashions Ltd” has changed its name to “G & K Exclusive Fashions Public Company Ltd”. That change has been effective from Friday, December 10, 2004.
On the 16th of December the CSE Council decided to transfer the securities of "Cyprus Airways Ltd" from the Parallel Market to the "Special Trading Category". The trading of securities in the Special Trading Category started on Friday, December 17, 2004. The company securities were transferred in the above category for the protection of the investing public in view of the uncertainty for the Company's viability and the statements made by the Company's and Government's officials, which do not enable the investing public to evaluate the situation properly.
On the 16th of December 2004, the CSE Council in agreement with the SEC decided to suspend the trading of the securities of "Alkioni Fish Farms Ltd" and "L. Atteshlis Shipping Ltd" from December 16, 2004 to January 14, 2005 (both days inclusive) or until the Securities Exchange Commission gives its final answer with regard to the CSE Council decision on the delistment of the above companies, for the protection of the investing public pursuant to article 29(1) of the CSE Laws.
On the 17th of December the CSE Council announced the transfer of securities of “Aiantas Investment Public Ltd” from the "Special Trading Category" to the Investment Companies Market with the distinctive marking (EM) due to its compliance with the procedure for the expansion of operations and the release from the investment restrictions, set by the CSE Circular 01/2004 to the Authorized Investment Organizations. The trading of securities in the Investment Companies Market with the distinctive marking (EM) started on Monday, December 27, 2004.
On the 17th of December the CSE announced that the Securities Exchange Commission has agreed with the CSE Council to delist the securities of "Alkioni Fish Farms Ltd" and "L. Atteshlis Shipping Ltd", pursuant to Article 64 of the CSE Laws, due to their failure to issue their six-month results for the period ended June 30, 2004 and comply with paragraph 23 Appendix F and Regulations 61(1) (ic) and 81(1) of the CSE Regulations. It is noted that the above companies were delisted on Monday, December 20.
On the 20th of December 5.75% Government Bonds 2nd Series 2004 with a date of issue 9/12/2004 (1st Issue dated 9/12/2004) of total value £31,974,300, which have resulted from an auction held on December 7, 2004, started trading.
On the 20th of December 6.00% Government Bonds 4th Series 2004 - Expiry 2014 with a date of issue 9/12/2004 of total value £12,329,600, which have resulted from an auction held on December 7, 2004, started trading
On the 23rd of December 2004, the CSE Council in agreement with the SEC decided to suspend the trading of the securities of "Avacom Computer Services Ltd" pursuant to Article 29(1) of the CSE Laws to protect the investing public after the request from the company, so as to allow adequate time to inform the shareholders of the submission of the voluntary Public Offer from NETI L.C.C. for the acquisition of 55% of the issued share capital of the company.
On the 23rd of December 2004, the CSE Council in agreement with the SEC decided to suspend the trading of the Convertible Bonds 1999/2004 of "SFS Group Public Company Ltd" pursuant to Article 29(1) of the CSE Laws to protect the investing public so as to carry out all the necessary procedures for the conversion of Bonds into Shares and the payment of the interest from November 27, 2004 to December 31, 2004 (both dates inclusive).
On the 27th of December 2004, the CSE Council in agreement with the SEC decided to continue the suspension of trading of the titles of "Avacom Computer Services Ltd" and in addition to suspend the trading of the securities "Avacom Net Services Ltd" and "Ceilfloor Ltd" as from December 27, until the submission of the voluntary Public Offer from NETI L.C.C. for the part acquisition of the share capital of "Avacom Computer Ltd". The decision was taken following a request of the company in order to protect the investing public, pursuant to Article 29(1) of the CSE Laws.
On the 28th of December 2004, the Cyprus Stock Exchange (CSE), having proceeded to the necessary controls in technical level, announced that after a request of the listed company "Louis Public Company Ltd" has decided to change the trading code of the company from "LCL" to "LUI". The change will be effective as from January 5, 2005.
On the 30th of December 2004, 200 ordinary shares of «Alliance International Reinsurance Co Ltd», which have resulted from the exercising of warrants, started trading.
On the 31st of December 2004, 67 ordinary shares of the company "Mallouppas & Papacostas Trading Co Ltd", which have resulted from the exercising of warrants 1999/2004, started trading.
Members News
On the 21st of December 2004, he CSE decided Pursuant to Article 39 of the CSE Laws, to delist Spidertrade Securities and Financial Services Ltd, after the Company's request.
CSE Events
Inclusion of listed companies of the CSE in the new Dow Jones Enlarged TMI Index On the 17th of December pursuant to Articles 10 and 48 of the CSE Laws 1999-2003 and Regulation 88 of the CSE Regulations 1995-2003, the CSE Council decided to impose a fee of £5 for each transfer of securities from the Depository Account of the Central Depository and Central Registry to the Depository Account of the Dematerialized Security System of the Central Depository (Athens) and the vise versa. The investor rather than the issuer will pay this amount. This decision was implemented on December 20, 2004.
On the 22nd of December 2004, the CSE informed the interested parties on Corporate Governance issues that the CSE would organise a two-day seminar on January 17 and 18, 2005, with Dr. Loizos Eracleous, Official Fellow in Strategic Management at the Oxford University as the main speaker. This seminar has been successfully carried out by Dr. Eracleous at the "Singapore Institute of Directors" for the past 4 years. Further information regarding the seminar outline and application form are available through the CSE web site (http://www.cse.com.cy/en/MarketData/Data/19-04(Attachment)Dhlosisymmetoxhs.doc)
On the 31st of December the Council of the Cyprus Stock Exchange (CSE) announced the introduction of a new fee structure in the Cyprus securities market. This new fee structure of the CSE has been designed within the framework of the Strategic Plan of the organisation for the years 2004-2005. It aims at better serving the market, by providing CSE’s services and products to the investors, listed companies and brokers, at reduced and competitive costs. The new charges/fees of the CSE cover the whole spectrum of services and products which are offered by the organisation, including among others the Trading fees, the Central Registry/Depository fees and fees for the New Markets of the CSE (Main, Parallel and Alternative) as these have been put in place, since September 6th 2004. The new fee structure of the CSE has been introduced in the market, following a comprehensive research of the relevant fee structures in other European and international securities markets, taking also into consideration special circumstances of the CSE. These fees will be put in effect 15 days after their publication in the Official Gazette of the Republic.
The new fee structure of the Cyprus Stock Exchange (CSE) will be available, shortly on CSE’s web site: www.cse.com.cy
