CySEC suspends trading of CTC, Woolworth, Ermes shares

14:48 - 28 July 2023

Financial Services

The Cyprus Securities and Exchange Commission (CySEC) announced that it has decided to suspend trading of the shares of Cyprus Trading Corporation Plc, Woolworth (Cyprus) Properties Plc, Ermes Department Stores Plc and Aiantas Investment Public Ltd for failing to submit their financial reports on time.

CySEC said it was informing the investing public that during its session on 24 July 2023, it decided based on article 70(2)(ic) of the Investment Services and Activities and Regulated Markets Law of 2017, to ask the Cyprus Stock Exchange (CSE) Board to suspend trading of the aforementioned companies’ shares for the following reasons:

“The companies Cyprus Trading Corporation Plc, Woolworth (Cyprus) Properties Plc and Ermes Department Stores Plc have not complied with their obligation to publish their Annual Financial Report for the year ending 31 December 2021, their Interim Financial Report for the period ending 30 June 2022 as well as their Annual Financial Report for the year ending 31 December 2022,” it said.

As for Aiantas Investment Public Ltd, CySEC said it has failed to submit its Annual and Interim Financial Reports for the years 2019, 2020, 2021 and 2022.

This, it said, “resulted in investors not being provided with the required information regarding the Companies’ in question financial situation”.

And so CySEC decided to suspend trading of their shares on the CSE as of 1 August 2023, until they comply with their obligations; which they must do by 31 October 2023.

CySEC suspends trading of CTC, Woolworth, Ermes shares

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