Insider Business Trading in Demetra, Logicom suspended pending consultations on Hellenic's share capital

Trading in Demetra, Logicom suspended pending consultations on Hellenic’s share capital

The Cyprus Stock Exchange on Monday suspended trading in Demetra and Logicom in view of consultations underway to increase the share capital of Hellenic Bank as part of an in principle agreement to acquire the good part of the Cyprus Co-operative Bank.

In an announcement, it said that after a request from Demetra and in line with CSE rules, it had suspended trading in the company’s shares from June 18 to protect investors. The suspension is considered essential because the company is in negotiations with Hellenic to increase the bank’s capital. It will remain in force until the company is in a position to make the necessary announcements.

Moreover, the CSE said that at the request of  Logicom Public Ltd it had also suspended trading in its shares as from June 18 to protect investors.  It said the suspension was considered essential given continued consultations by Demetra to increase its stake in Hellenic, and given that Logicom has agreed to contribute to financing Demetra.

The suspension will remain in force until the issue is clarified and an announcement issued.

CCB shareholders will hold an EGM on Monday afternoon to examine Hellenic’s proposal. The agreement was approved in principle by cabinet on Friday but is contingent on Hellenic submitting a capital plan. The bank is expected to do so today.

Read more

https://in-cyprus.com/news/business/hellenic-bank-shareholders-expected-to-make-their-intentions-clear-today/

Top Stories

Hellenic Bank net profit €17.7 million in first half of 2020

Hellenic Bank, Cyprus' second largest lender posted a net profit of €17.7 million in the first half of 2020, amid the coronavirus pandemic, compared...

Greece supports Cyprus in seeking sanctions against Turkey

Greece supports Cyprus in seeking targeted sanctions against Turkey, Greek Foreign Ministry's Spokesperson Alexandros Gennimatas said on Friday. Gennimatas was replying to a question to...

Covid testing for CFA matches and retirement homes announced

Cyprus' Health Ministry on Friday announced that COVID-19 tests will be conducted for all participants in matches of the Cyprus Football Association, except the...

Hardalias – ‘We are far from another lockdown’

"We are far from a lockdown against the pandemic, and there are a lot more measures than can be implemented, if necessary, before such...

Two road accidents – Caution: Slippery ground due to rain

Two traffic accidents occurred on Friday afternoon on the highway. According to police, one happened near Alampra and the second near Lympia. It is noted that...

Taste

Sheftalies

Sheftalies, a very tasty dish from the charcoal grill, are minced meat shaped into small sausages and wrapped in “panna” (suet). Panna is a...

Spicy grilled soutzoukakia

Place all ingredients for soutzoukakia in a bowl and mix well, preferably using a food processor, until well combined. Using the mixture, form cigar-shaped...

Souvlakia

Pork souvlaki: Put the meat and all the other ingredients in a bowl (not metal) and mix well. Cover the bowl and keep in...

Pastelli (Carob Toffee)

The nutritional sweet of Pastelli is made with the syrup of carob pods, produced by boiling their pulp until it forms a thick, sticky...