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Monthly review of developments
On the last trading session of September 2006, the General Index reached 2.947,98 points, representing a relative increase of 9,35 %. The value of shares traded also exhibited an increase of 14,67 % compared to the previous month.
It is worth mentioning however, that the highest level the index reached for the month was 2.947,98 points. The other Market Indices reached the following levels: Main Market reached 3.005,71 , Parallel Market 1.381,87 , Alternative Market 1.392,30 , Investment Companies 1.860,74 points. On a sectoral level, sub-indices reached the following levels: Banking sector 3.298,55 , Hotels 1.830,36 , FTSE/CySE20 1.004,14 and finally the FTSE Med 100 reached 9.597,48 points.
The market capitalisation of shares (excluding Investment Companies Market) reached £5,29 billion. According to this month’s results, the Main Market accounted for 52,18 % of the total market capitalisation, the Parallel Market 1,94 %, the Alternative Market 7,35 %, the Investment Companies Market 2,50 % and the Bond Market 35,52 %. Moreover the total market capitalisation, including the Investment Companies Market, Warrants and the Bond Market reached £8,608 billion compared to £8,197 billion the previous month, registering an increase of 5,02 %.
The total value of transactions during the month in review reached £97,12 million, with an average of 4,62 million per trading session. The Financials sector contributed 75,68% to the total value traded, which was the highest, whereas the Corporate Bonds sector had the lowest contribution with 0,07% . Investors primarily focused their interest on the shares of “ Cyprus Popular Bank Public Company Ltd ” and “ Bank of Cyprus Public Company Ltd ” with 23,12 % and 21,05 % respectively.
Listed Companies news
On the 4th of September 2006, the Cyprus Stock Exchange announced that the titles of Suphire Holdings Public Ltd would continue trading in the Special Trading Category pursuant to the Provisions (b) and (c) of Paragraph 2.2.3 of KPD 596/2005 on the transfer of companies in the Special Trading Category due to a delay in the issue of the unaudited financial statements for the period ended June 30, 2006 and the auditors' inability to express their opinion for the entirety of the financial statements for the year ended December 31, 2005.
On the 4th of September 2006, the Cyprus Stock Exchange announced that the titles of Palinex Trading Public Ltd would continue trading in the Special Trading Category pursuant to the Provision (b) of Paragraph 2.2.3 of KPD 596/2005 on the transfer of companies in the Special Trading Category due to a delay in the issue of the unaudited financial statements for the period ended June 30, 2006. The Company's titles are trading in the Special Category since May 11, 2005 due to its failure to comply with the minimum stock market value and its inability to issue and post the Annual Report and Financial Statements for the year ended December 31, 2005.
On the 4th of September 2006, the Cyprus Stock Exchange announced that the titles of Cyprus Airways Public Ltd would continue trading in the Special Trading Category pursuant to the Provision (c) of Paragraph 2.2.3 of KPD 596/2005 on the transfer of companies in the Special Trading Category due to the uncertainty for its ability to operate as a company, pursuant to the auditor's report on its financial statements for the year ended December 31, 2005.
On the 6th of September 2006, the CSE Council announced that it has accepted the listing of 380,000 bonds (2016) of the Hellenic Bank Public Company Ltd of nominal value £100 each with a floating interest rate, pursuant to Article 58(1) of the CSE Law. The above bonds started trading from September 7, 2006.
On the 7th of September 2006, further to an announcement dated 20/7/06, the CSE Council announced that pursuant to Article 58 of the CSE Law, it has accepted the listing of 19,900 ordinary shares of nominal value £0.03 cents and 4,975 Warrants 2010/2011 of Unifast Finance & Investments Public Company Ltd, which have resulted from the exercise of the Company's Rights.The trading of the shares and the Warrants (2010/2011) stated trading on September 11, 2006.
On the 18th of September 2006, the CSE Council decided to transfer the titles of “Regallia Holdings & Investments Public Ltd” and “Aiantas Investments Public Ltd” from the Investment Companies Market to the Special Trading Category due to the auditors' reservations on the accounts for the year ended December 31, 2005, pursuant to Paragraph 2.2.3(c) of KPD 596/2005 on the cases of transfer of companies to the Special Trading Category. The titles of the above companies started trading in the Special Category on Wednesday, September 20, 2006.
On the 20th of September 2006, the Cyprus Stock Exchange announced the suspension of trading of the titles of “Exelixis Investments Public Ltd” from Friday, September 22, 2006 to Thursday, September 28, 2006 (inclusive) following the Company's request for a smoother adoption of the reverse split procedure of the nominal value of the shares from 0.04 cents to 0.40 cents to take place on Tuesday, September 26, 2006 (record date). This decision was taken pursuant to Article 183 and 184 of the CSE Law for the protection of the investing public. It is noted that the titles of Exelixis Investments Public Ltd are trading in the Special Trading Category due to its incompliance with the obligation for a minimum stock market value and due to the start of the procedures for the expansion of its operations and its release from the investment restrictions or obligations.
On the 21st of September 2006, the CSE Council announced that it has accepted the listing of 20,078,974 nil-paid rights of the Cyprus Popular Bank Public Company Ltd, pursuant to Article 58(I) of the CSE Law. The nil-paid rights were allocated to the ratio of 2 rights for every 3 shares of nominal value £0.10 cents. Each right exercised will be converted into one company share. The exercise price has been set at £0.10 and their exercise period will start on October 26, 2006 and will expire on November 9, 2006.The trading of the above titles started on September 25, 2006 and will end on October 20, 2006 (both dates inclusive). It is noted that the trading of the shares that will result from the exercise of rights will commence on November 30, 2006.
On the 28th of September 2006, the CSE Council announced that the issued share capital of Exelixis Investment Public Ltd, which amounted to £932,600 divided into 23,315,000 shares of nominal value £0.04 now stands at £932,600 divided into 2,331,500 shares of nominal value £0.40, following the reverse split (increase of nominal value of share from £0.04 to £0.40) on Tuesday, September 26, 2006. The above change has been effective since Friday, September 29, 2006, when the share restated trading.
CSE Events
On the 1st of September 2006, the CSE Council announced that it has completed the preparation of the following Regulatory Decisions’ drafts, pursuant to the authorizations that will be provided to the Council according to the Legislation (Law on Central Depository/Register, 92(I)/2006). -Regulatory Decision for operation of Central Depository and Central Registry.-Regulatory Decision for Liquidation and Settlement of the Transactions on Dematerialized Stocks.-Regulatory Decision for the introduction of a Supplementary Insurance Fund. The Decisions have been prepared within the framework of the common CSE-ASE platform.As from Friday, September 1, 2006, the drafts are available at the CSE web page (www.cse.com.cy) in “Common Platform” menu.
