The Council of the Cyprus Stock Exchange announces its decision to delist the bonds of Hestiun Properties Plc (the «Company») from the CSE's Emerging Companies Market, pursuant to Article 178(1) of the Securities and the Cyprus Stock Exchange Law. The Council of the Stock Exchange reached this decision due to the fact that the conditions for the smooth operation of the stock exchange market in relation to the securities of the said company are no longer satisfied and important ongoing obligations are not complied with. As a result, the interests of investors are put at risk.
More specifically, the Council of the Stock Exchange, in reaching this decision, took the following into account:
(a) The titles of the company are being suspended since 3 April 2018 [Paragraph 184.108.40.206(a) of R.A.A. 379/2014 (as amended)].
(b) The Company does not maintain the services of a Nominated Advisor since 2 April 2018.
Furthermore, it is noted that the company has not proceeded with issuing and publishing its Annual Financial Report for the period ended 31/05/2018.
It is noted that the delisting of the bonds of the above company from the Stock Exchange will take effect on 11 December 2018. The company's bonds will remain suspended until they are delisted.
Nicosia, 3 December 2018