SEC wants more info from Laiki

The Cyprus Securities & Exchange Commission has asked Laiki Bank (CPB) to provide additional information regarding Board proposal to issue new shares to finance the acquisition of Marfin and Egnatia.

The Cyprus SEC claims that in view of such a major event in the corporate history of the bank, the Board should provide detailed information to its shareholders well in advance of the forthcoming EGM, called for October 24 to approve the motion.

The Central Bank of Cyprus has also said that it too has asked for additional information from the Group. A spokesman for the Central Bank told the daily Phileftheros that “we too are waiting for additional clarifications.”

More will be revealed today during a press conference called by Marfin Vice Chairman and Laiki Board member Andreas Vgenopoulos at 2.00pm at the Laiki Sporting Club to respond to the charges.