The Cyprus Stock Exchange (CSE) announces that by a decision of the Chairman of the Council and the Director General –CEO of the CSE taken in accordance with Article 183 of the Securities and Stock Exchange Law, which was ratified in accordance with Article 184 of the Law, the suspension of trading of all securities listed on the Stock Exchange is extended and for today Thursday 28th of March 2013, for the purpose of ensuring the proper functioning of the Stock Market and to protect investors. This decision was taken in view:
- The Enforcement of Restrictive Measures on Transactions in case of Emergency Law of 2013 and the relevant Decree which was issued yesterday according to the articles 4 and 5, where the restrictions cover the financial transactions, and affect the proper and smooth functioning of the operation of the Stock Exchange. The Stock Exchange will contact the competent Commission which is established according to the article 9 of this Law, in order to apply for the approval of payments regarding the financial transactions and their clearing and settlement.
- For the avoidance of any potential additional risk to the entire system, and in order to ensure the smooth and orderly functioning of the market, and in particular to allow sufficient time to CSE members in Cyprus as well as remote Members and Custodians and other market participants which are influenced by these changes in order to make alternative arrangements with banks to enable their smooth reopening.
Please note that for better information purposes of investors, the issue of relevant announcements from the listed companies has been requested regarding the overall situation and impacts due to the recent decisions of the Eurogroup as well as the current economic developments.
As previously announced, tomorrow Friday 29th March, 2013 and Monday 1st April, 2013 there will be no trading sessions and clearing and settlement of stock exchange transactions due to the Easter of Catholics (where the Target 2 system does not work) and the Public Holiday on 1st April 2013 respectively.
