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BOARD DECISIONS
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PUBLIC INFORMATION BOARD DECISIONS
BOARD DECISIONS
Announcement Date: 29 Jun. 2018 Board Decision Date: 25 Jun. 2018
Regarding: Blackwell Global Investments (Cyprus) Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Jun. 2018 Board Decision Date: 05 Mar. 2018
Regarding: Karkotis Manufacturing & Trading Public Ltd
Legislation: The Cyprus Securities and Cyprus Stock Exchange Law
Subject: Fine €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Jun. 2018 Board Decision Date: 04 Jun. 2018
Regarding: Agroton Public Ltd
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €2.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Jun. 2018 Board Decision Date: 04 Jun. 2018
Regarding: SFS Group Public Ltd
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €4.400
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Jun. 2018 Board Decision Date: 04 Dec. 2017
Regarding: Iron FX Global Ltd (τώρα Notesco Financial Services Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €2.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 Jun. 2018 Board Decision Date: 04 Jun. 2018
Regarding: Investment Compartment Deltamax European Property Fund and Investment Compartment Deltamax Value Fund, of the AIF Deltamax Fund Variable Capital Investment Company Limited
Legislation: The Alternative Investment Funds Law
Subject: Withdrawal of Investment Compartments license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Jun. 2018 Board Decision Date: 30 Apr. 2018
Regarding: Management Company Ankor Capital Ltd
Legislation: The Open-Ended Undertakings for Collective Investment Law
Subject: Withdrawal of Management Company license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Jun. 2018 Board Decision Date: 30 Apr. 2018
Regarding: UCITS ACY Global Prosperity Umbrella Fund UCITS Variable Capital Investment Company Ltd
Legislation: The Open-Ended Undertakings for Collective Investment Law
Subject: Withdrawal of UCITS license
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 19 Jun. 2018 Board Decision Date: 04 Jun. 2018
Regarding: Mr Marios Antoniades (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Re-examination
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 25 May. 2018 Board Decision Date: 23 Apr. 2018
Regarding: Standville Limited
Legislation: Law Regulating Companies Providing Administrative Services and Related Matters, Directive DI 144-2007-08
Subject: Withdrawal of an ASP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 May. 2018 Board Decision Date: 07 May. 2018
Regarding: Leptos Calypso Hotels Public Ltd (available in Greek language)
Legislation: The Takeover Bids Law
Subject: Extension for the acquisition of shares following the granting of an exception to submit a mandatory takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 21 May. 2018 Board Decision Date: 07 May. 2018
Regarding: Pandora Investments Public Ltd (available in Greek language)
Legislation: The Takeover Bids Law
Subject: Extension for the acquisition of shares following the granting of an exception to submit a mandatory takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 May. 2018 Board Decision Date: 23 Apr. 2018
Regarding: Cosmos Insurance Company Public Ltd
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit to takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 08 May. 2018 Board Decision Date: 30 Apr. 2018
Regarding: Ingard Property Bond Designated Activity Company, Pierides Holdings Plc
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of trading of issuer shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Apr. 2018 Board Decision Date: 20 Nov. 2017
Regarding: Mr. Amr Jamal Mohamed Hendawi (CommexFX Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Re-examination
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 26 Apr. 2018 Board Decision Date: 26 Mar. 2017
Regarding: Salamis Tours (Holdings) Public Limited
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Administrative measure
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 25 Sep. 2017
Regarding: Louis Plc
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 2.800
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 25 Sep. 2017
Regarding: KDM Shipping Public Limited
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 1.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 25 Sep. 2017
Regarding: Agroton Public Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 1.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 11 Dec. 2017
Regarding: Renos Hatzioannou Farm Public Company Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total Fine € 6.250
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 11 Dec. 2017
Regarding: Modestou Sound & Vision Public Company Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Total Fine € 6.250
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 11 Dec. 2017
Regarding: Karyes Investment Public Company Ltd
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 3.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Apr. 2018 Board Decision Date: 11 Dec. 2017
Regarding: KDM Shipping Public Limited
Legislation: The Transparency Requirements (Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 2.500
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Simos Kiriakides (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Violation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mrs Eve Makariou (CFO of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €30.000
Judicial Review: YES (15 Jun. 2018) NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Polis Kourousides (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €20.000
Judicial Review: YES (19 Jun. 2018) NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Christos Filaktou (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €20.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Giorgos Hadjimichael (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €20.000
Judicial Review: YES (15 Jun. 2018) NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Marios Antoniades (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €40.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Mr. Christos Orphanides (Director of Orphanides Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine €120.000
Judicial Review: YES (02 May. 2018) NO Judicial Review Ruling:
Announcement Date: 05 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: Orphanides Public Company Ltd
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law, The Insider Dealing and Market Manipulation (Market Abuse) Law
Subject: Violation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 04 Apr. 2018 Board Decision Date: 08 Jan. 2018
Regarding: LeadCapital Markets Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €30.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 30 Mar. 2018 Board Decision Date: 26 Mar. 2018
Regarding: Renos Hadjioannou Farm Public Company Ltd
Legislation: The Investment Services and Activities and Regulated Markets
Subject: Suspension of trading of issuer shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 27 Mar. 2018 Board Decision Date: 12 Mar. 2018
Regarding: Petrolina (Holdings) Public Ltd
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit to takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 12 Mar. 2018 Board Decision Date: 15 Jan. 2018
Regarding: Standville Limited
Legislation: Law Regulating Companies Providing Administrative Services and Related Matters, Directive DI144-2007-08
Subject: Suspension and commencement of proceedings for the possible withdrawal of an ASP authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 09 Mar. 2018 Board Decision Date: 05 Mar. 2018
Regarding: Songa Offshore SE
Legislation: The Takeover Bids Law
Subject: Exception from a mandatory obligation to submit a takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Feb. 2018 Board Decision Date: 12 Feb. 2018
Regarding: Boursotrade Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of suspension of CIF authorisation
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Feb. 2018 Board Decision Date: 13 Nov. 2017
Regarding: ICFD Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI 144-2007-01 of 2012, Directive DI 144-2007-02 of 2012
Subject: Fine €138.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 09 Feb. 2018 Board Decision Date: 20 Nov. 2017
Regarding: Chesterfield Corporate Services Ltd
Legislation: The Prevention and Suppression of Money Laundering and Terrorist Financing Law, Directive DI 144-2007-08 of 2012
Subject: Fine €20.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 06 Feb. 2018 Board Decision Date: 20 Nov. 2017
Regarding: Hoch Capital Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI 144-2007-02 of 2012
Subject: Fine €30.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 05 Feb. 2018 Board Decision Date: 25 Sep. 2017
Regarding: Best Choice FBC Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Withdrawal of CIF licence
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 22 Jan. 2018 Board Decision Date: 20 Nov. 2017
Regarding: Spot Capital Markets Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, Directive DI 144-2007-02 of 2012
Subject: Fine €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 10 Jan. 2018 Board Decision Date: 13 Nov. 2017
Regarding: Mr. Pavel Krymov (Shareholder of Skopalino Finance Ltd)
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Fine €10.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 20 Dec. 2017 Board Decision Date: 23 Oct. 2017
Regarding: Reliantco Investments Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, DI144-2007-01 of 2012, DI144-2007-02 of 2012
Subject: Fine €95.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 18 Dec. 2017 Board Decision Date: 11 Dec. 2017
Regarding: Modestou Sound & Vision Public Company Ltd, Renos Xatzioannou Farm Public Ltd (in Greek)
Legislation: The Investment Services and Activities and Regulated Markets Law
Subject: Suspension of trading of issuer shares
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 15 Dec. 2017 Board Decision Date: 13 Nov. 2017
Regarding: Centralspot Trading Ltd
Legislation: The Investment Services and Activities and Regulated Markets Law, DI144-2007-01 of 2012, DI144-2007-02 of 2012
Subject: Fine €50.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Dec. 2017 Board Decision Date: 25 Sep. 2017
Regarding: Asoted Services Ltd
Legislation: The Prevention and Suppression of Money Laundering and Terrorist Financing Law, Directive DI 144-2007-08 of 2012
Subject: Fine €16.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 07 Dec. 2017 Board Decision Date: 04 Dec. 2017
Regarding: Ch. Charilaou Group Plc (in Greek)
Legislation: The Takeover Bids Law
Subject: Extension for the disposal of shares following the granting of an exception to submit a mandatory takeover bid
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Bank of Cyprus Public Company Ltd
Legislation: Τhe Insider Dealing and Market Manipulation (Market Abuse) Law, the Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Total fine € 15.000
Judicial Review: YES () NO Judicial Review Ruling:
Announcement Date: 01 Dec. 2017 Board Decision Date: 18 Sep. 2017
Regarding: Mr. Theodoros Aristodemou (Director Bank of Cyprus Public Company Ltd)
Legislation: The Transparency Requirements (Transferable Securities Admitted to Trading on a Regulated Market) Law
Subject: Fine € 100.000
Judicial Review: YES (08 Feb. 2018) NO Judicial Review Ruling:
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