CySEC orders Aspis to up USB bid to EUR 2.70

The Cyprus Securities and Exchange Commission decided that Aspis Pronoia AEGA and Commercial Value SA acted in agreement with Georgios Stefanou in the purchase of titles of Universal Bank Public Ltd, offering higher price than that offered to the shareholders of Universal Bank Public Ltd in the document of the revised and Competitive Public Offer by Aspis Pronoia AEGA and Commercial Value SA.
As a result, the Commission proposed to the Cyprus Stock Exchange to examine the possible activation of Regulation 16 of the CSE Regulations 1997 and 2001 (Public Offer for the Acquisition or Purchase of Titles and Merger of Companies Listed in the CSE) on the automatic revision of the public offer for the acquisition of a stake in the share capital of Universal Bank Public Ltd by Aspis Pronoia AEGA and Commercial Value SA at the price of EUR2.70.

The final decision will be taken by the CSE.