.jpg)
Monthly review of developments
On the last trading session of June 2006 the General Index reached 2.763,55 points, representing a relative increase of 6,25 %. The value of shares traded also exhibited a decrease of 43,65 % compared to the previous month.
It is worth mentioning however, that the highest level the index reached for the month was 3.017,48 points. The other Market Indices reached the following levels: Main Market reached 2.823,39 , Parallel Market 1.104,40 , Alternative Market 1.060,13 , Investment Companies 1.445,14 points. On a sectoral level, sub-indices reached the following levels: Banking sector 3.127,73 , Hotels 1.246,81 , FTSE/CySE20 940,47 and finally the FTSE Med 100 reached 9.029,91 points.
The market capitalisation of shares (excluding Investment Companies Market) reached £4,60 billion. According to this month’s results, the Main Market accounted for 51,12 % of the total market capitalisation, the Parallel Market 1,85 %, the Alternative Market 5,96 %, the Investment Companies Market 2,20 % and the Bond Market 38,45 %. Moreover the total market capitalisation, including the Investment Companies Market, Warrants and the Bond Market reached £7,799 billion compared to £7,640 billion the previous month, registering an increase of 2,09 %.
The total value of transactions during the month in review reached £91,0 million, with an average of 4,3 million per trading session. The Financials sector contributed 84,45% to the total value traded, which was the highest, whereas the Basic Materials sector had the lowest contribution with 0,10% . Investors primarily focused their interest on the shares of “ Bank of Cyprus Public Company Ltd ” and “ Cyprus Popular Bank Public Company Ltd ” with 44,31 % and 23,40 % respectively.
Listed Companies news
On the 5th of June 2006, the CSE Council decided to transfer the following companies “Euroinvestment & Finance Public Ltd” and “Finikas Ammochostou Investments Public Company Ltd” from the Alternative Market and the Investment Companies Market respectively to the Special Trading Category pursuant to the provision (a) Paragraph 2.2.3 KPD 696/2005 on the failure to meet the continuous obligations of the markets that the two companies were listed and more specifically the minimum dispersion of the shares to the public. The trading of titles in the Special Trading Category started on Wednesday, June 7, 2006.
On the 8th of June 2006, the Cyprus Stock Exchange info rmed the investors that listed company “Muskita Aluminium Industries Plc” has been transferred from “Aluminium” category to “Building materials” category pursuant to the FTSE Industry Classification Benchmark – ICB. This change was made after the Company’s request and in agreement with FTSE. Pursuant to the Industry Classification Benchmark, the listed companies are classified based on their homogeneous characteristics. The characteristics focus on the distribution of the turnover of the listed companies per sector of economic activity. The above change has been effective from Monday, June 19, 2006.
On the 9th of June 2006 the Cyprus Stock Exchange announced that the titles of Global Consolidator Public Ltd continue trading in the Special Trading Category pursuant to the Provisions (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 viability, as announced in the auditors’ report for the financial results of the year ended December 31, 2005 submitted to the CSE on June 8, 2006.
On the 19th of June 2006, the CSE Council announced that pursuant to Article 58 of the CSE Law, it has accepted the listing of 41,581 new 2011 bonds of the Hellenic Bank Public Company Ltd, 1,104 of which have resulted from the reinvestment of interest for the period ended 31/12/2005, 447 from the reinvestment of interest for the period ended 31/3/2006 and 40,000 issued by the Hellenic Bank Public Company Ltd for the transfer of 2011 bonds to the bond holders (2011) that will select to reinvest the interest of 2011 bonds. The above titles started trading on Thursday, June 22, 2006.
On the 19th of June 2006, the CSE Council announced that pursuant to Article 58 of the CSE Law, it has accepted the listing of 15,953 ordinary shares of the Hellenic Bank Public Company Ltd, which emerged from the exercise of American Type Warrants 2003/2007. The trading of the above titles started on June 22, 2006.
On the 21st of June 2006 the CSE Council, after examining the request of “Brainstorm Enterprises Public Ltd” and the dispersion of its share capital following the successful public offer by “Krondel Enterprises Ltd” and since there is no longer requirement for listing and continuous obligation on the dispersion of the share capital to the public, the CSE Council in agreement with the SEC decided to delist its titles from the CSE on Monday, June 26, 2006, pursuant to Article 178 of the CSE Law.
On the 29th of June the CSE Council announced that it has accepted the listing of 2,249,989 nil-paid rights, up to 2,250,000 warrants 2007/2009 and up to 2,250,000 warrants 2010/2012 of Unigrowth Investments Public Ltd, pursuant to Article 58(I) of the CSE Law. The nil-paid rights were allocated to the ratio of 1 right for every 4 shares of nominal value £0.10 cents. Each right exercised will be converted into one Company share and 1 bonus warrant 2007/2009. The exercise price has been set at £0.10 cents and the exercise period will be from July 28, 2006 to August 4, 2006. For each warrant 2007/2009 exercised, 1 share and 1 bonus warrant 2010-2012 will be granted. It is noted that the exercise price of warrants 2007/2009 has been set at £0.13 cents while that of warrants 2010-2012 at 0.17 cents. The warrants 2007/2009 will be exercisable on November 1-15, 2007-2009 and the warrants 2010/2012 on November 1-15, 2010-2012. The trading will commence on July 5, 2006 and will end on July 25, 2006 (both dates inclusive). It is noted that the trading of the shares that will result from the exercise of rights and warrants will commence on August 28, 2006.
