Phinikas to be delisted from CSE

The CSE Council in agreement with the SEC decided to delist the securities of “Phinikas Ammochostou Investment Public Company Ltd” due to the Company’s failure to maintain the required rate of dispersion of the Investment Companies Market, in which it was listed.
The CSE Council also took into account the fact that according to the Public Offer that Confine Investments Public Ltd submitted to the shareholders of Phinikas Ammochostou Investments for the acquisition of up to 100% of its share capital, the Offeror has already acquired 95.92%, which gives Confine the right to exercise the option under the Companies’ Law Chapter 113 to acquire the remaining shares of Phinikas.
The last day of trading of its titles will be on Thursday, May 24, 2007.
The CSE also decided to suspend the trading of titles of Phinikas Ammochostou Investments from May 25 to May 31, 2007 (inclusive), that is, until the clearing of all transactions. It is noted that the titles will be delisted on June 1, 2007.