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Prices
On the last day o the
month the General Price Index was 81,20 points. It is worth to mention,
however, that the highest level the index reached for the month was
86,28 points. On a sectoral level, sub-indices reached the following
points: Banking sector 92,34, Approval Investment companies sector
69,46, and Insurance companies sector 15,38, Manufacturing sector 57,49,
Tourism sector 70,95, Trading sector 20,58 Building Materials and
Construction sector 70,53 Information Technology 3,28, Financial
Services 11,43, Fish Culture 11,49, Hotels with 38,30, the Other
Companies sector with 75,17, the FTSE/CySE 20 with 323,50 and finally
the FTSE Med 100 5.765,79 points.
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| Market
Capitalization
The total market
capitalisation (shares) reached £2.24 billion from £2.33 billion the
previous month registering a decrease of 4,07%. According to this month
results the Banking sector accounted for 45,22% of the total market
capitalisation, the Other Companies sector with 14,30%, the
Manufacturing sector with 10,16%, the Hotels sector with 8,03%, the
Building and Materials and Construction sector with 8,36%, the Financial
Services sector with 3,62%, the Trading sector with 5,24%,
the Tourism sector with
2,17%. The Insurance sector with 1,30%, the Information
Technology sector with 1,27%, and the Fish Culture sector with 0,32%
respectively, of the total market capitalisation. Moreover the total
market capitalisation including the Approved Investment Funds, the
Warrants the Corporate and Government bonds reached £4.59 billion
compared to £4.66 billion the previous month registering a decrease of
1,64%.
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| Members
and Listed Companies news
From the 3rd until the 21st of November the share register of the
following issuers: “Avacom Computer Services Ltd”, “Avacom Net Services
Ltd”, “Severis & Athienitis Financial Services Ltd”, “Regallia Holdings
& Investments Ltd” “Cyprus Airways Ltd” and “Minerva Insurance Company
Ltd”, suspended trading to facilitate the process and ensure the
takeover of the share registers and transition to the new system.
On the 4th of November
the Council of Cyprus Stock Exchange has announced the new composition of
the FTSE/CySE20, following the review carried out by the CSE Advisory
Committee on November 4, 2003 in the presence of a representative of FTSE
International. The shares that will be included in the FTSE index in the
next six months are: 1. Bank of Cyprus Ltd (1.00), 2. Cyprus Popular Bank
Ltd (0.75), 3.Hellenic Bank Ltd (0.75), 4.Louis Cruise Lines Ltd (0.40),
5.Lanitis Bros Ltd (0.40), 6.A.Tsokkos Hotels Ltd (0.40), 7.Pandora
Investment Co Ltd (0.40), 8.Cyprus Trading Corporation Ltd (0.75), 9.Libra
Holidays Group Ltd (0.50), 10.Suphire Financial Services Ltd (0.40),
11.F.W.Woolworth & Co (Cyprus) Ltd (0.75), 12.Sharelink Financial Services
Ltd (0.50), 13.Multichoice (Cyprus) Ltd (0.40), 14.Petrolina (Holdings)
Ltd (0.40), 15.Golden Sun Leisure (Cy) Ltd (0.40), 16.Keo Ltd (0.40), 17.Muskita
Aluminium Industries Ltd (0.40), 18.D.H. Cyprotels Ltd
(0.50), 19.Universal Bank Ltd (0.40) 20. Leptos Calypso Hotels Ltd
(0.50). The figures in brackets are the adjusted free float.
On the 5th of November was held at the CSE offices the first meeting
of the advisory committee that was established to oversee the operation of
the FTSE-Med 100. The FTSE-Med 100, which was put into effect on 19/6/03,
comprises 100 stocks listed on three stock exchanges (Tel Aviv, Athens,
Cyprus), some of which are also dual listed on stock exchanges in the USA
or other European stock markets.
The advisory committee for the index, which includes members of the ASE,
CSE and Tel Aviv Stock Exchanges and a representative of the FTSE Group,
reviewed the operation of the index in the period June-November 2003,
according to the technical rules of the index. The CSE acts as secretary
in matter relating to the coordination and operation of the index.
During the meeting, it was agreed that several activities should be
undertaken to promote the index and that a newsletter should be issued
once every six months.
On the 5th of November 2,499,996 warrants of the company “Laser
Investments Ltd”, started trading, at an exercise price of 60% of the mid
closing price of Laser Investments Ltd shares in the period October 1-14,
2004. The exercise price cannot be lower than the nominal value of the
share. The warrants can be exercised on any business day between November
18-24, 2004.
On the 10th of November the share register of the issuer “Cyprus
Popular Bank Ltd” have been included in the CSE Central Share Register and
Central Depository.
On the 12th of November 28,245 ordinary shares of the company “Bank
of Cyprus Ltd”, started trading. The shares have resulted from the
conversion of 6.75% convertible bonds of the company, expiring 2003, in
volume of £35,308.
On the 12th of November 7,636,219 ordinary shares and 3,818,117
warrants of the company “Alkis H.Hadjikyriakos (Frou-Frou Biscuits) Ltd”,
which are granted free
of charge to shareholders who have held in their name the shares they
acquired from the first issue and flotation of the company on June 30,
2003, started trading.
On the 12th of November 18,616 ordinary shares of the company “G.A.P
Vassilopoulos Ltd”, which resulted from the exercise of the company's
warrants, started trading.
On the 12th of November 42,429,542 ordinary shares of the company
“Actibond Growth Fund Ltd”, which were granted to the shareholders of
Mercator Strategic Opportunities Ltd (Mercator) in consideration for the
allocation by Mercator to Actibond of portfolio investments worth
£3,372,261, started trading.
On the 12th of November 2,600 ordinary shares of the company “Knossos
Investments Ltd”, which have resulted from the exercise of warrants
1998/2003, started trading.
On the 17th of November 3.75% Registered Development Stock, 10th
Series 2003 - Expiring 2005 equaling of £2,200,000, started trading. The
bonds resulted from an auction on October 22, 2003.
On the 17th of November 4.50% Registered Development Stock, 2nd
Series 2003 - Expiring 2013 (1st partial issue) equaling of £566,500,
started trading. The bonds resulted from an auction on October 22, 2003.
On the 17th of November 52 -week Treasury Bills (23/10/2003 -
22/10/2004) equaling of £30,000,000 (the bills have resulted from an
auction on October 22, 2003), started trading.
On the 17th of November 4.25% Registered Development Stock, 2nd
Series 2003 - Expiring 2008 and issued on 28/8/2003 (2nd partial issue)
equaling of £12,460,700, started trading. The bonds resulted from an
auction on October 22, 2003.
On the 17th of November 4.60% Registered Development Stock, 2nd
Series 2003 - Expiring 2018 (1st partial issue) equaling of £475,000,
started trading. The bonds resulted from an auction on October 22, 2003.
On the 24th of November the CSE Council has decided to take over the
share register and include the titles of the following issuers: “Avacom
Computer Services Ltd”, “Avacom Net Services Ltd”, “Severis & Athienitis
Financial Services Ltd”, “Regallia Holdings & Investments Ltd” “Cyprus
Airways Ltd” and “Minerva Insurance Company Ltd” in its Central Share
Register and Central Depository.
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| CSE Events
On the 11th of November the CSE the advisory committee, which was
set up by the Council of the CSE to deal with matters relating to
corporate governance, held a press conference at the CSE offices.
The conference included a short description of the role of the corporate
governance advisory committee by the advisory committee chairman Mr.
Akis Kleanthous.
The following members of the advisory committee also gave short speeches
regarding the importance of the corporate governance code:
-Mr. Marios Clerides, Chairman of the Securities and Exchange
Commission (SEC)
-Mr. Pieris Theodorou, Chairman of the Cyprus Public Companies Association
-Mr. Stavros Agrotis, Vice - Chairman of the CSE Members' Association
-Mr. Christis Christoforou, Chairman of the Cyprus Accountants'
Association
The member of the CSE Council and of the Corporate Governance Advisory
Committee Mr. Andreas Haritou, gave a presentation by providing
statistical data regarding the enforcement of the Corporate Governance
Code to date and explained the Addendum to the Code, which was approved in
a meeting of the committee on November 10, 2003.
On the 12th of November the Securities and Exchange Commission (SEC),
with the kind participation of the Cyprus Stock Exchange, organised the
"First Pancyprian Conference of the SEC, CSE and CSE-listed Companies", at
the Hilton Park Hotel in Nicosia. The initiative of the SEC aimed at
strengthening communication between CSE-listed companies and
the supervisory authorities and to secure the future and development of
the stock market.
On the 17th of November The Cyprus Stock Exchange (CSE) has published
the first six-month newsletter regarding the FTSE Med 100 on its website (www.cse.com.cy).
The FTSE Med 100 Index, which comprises the 100 largest companies from the
Athens, Tel Aviv and Cyprus Stock Exchanges, was launched on June 19,
2003. The newsletter includes a review of the index in the past six
months, comparisons with other European indices, tables showing the values
of the highest/lowest fluctuations of the index and trading volume in the
period under review, and a list of the 100 companies that make up the
index.
On the 28th of November the CSE launched the Remote Trading System,
and all the electronic system rules governing the trading of listed titles
by remote trading or trading from the office of each broker/user of the
electronic trading system, as published in announcement in the Official
Gazette of November 14, 2003 (ÊÄÐ 839/2003). The rules have been
established pursuant to the power granted to the CSE Council through
Article 22 of the CSE Laws and Regulation 33 of the CSE Regulations.
From the 28th of November the existing electronic trading rules (ÊÄÐ
94/99) were ceased to be valid.
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Companies’ Business
Plan Presentations
On the 10th of November the company “Apollo Investment Fund Ltd”
presented in the CSE offices its business/strategic plan to the
analysts, EPEY, institutional and private investors, the media,
financial news providers and other interested parties.
On the 10th of November the company “Lanitis Development Ltd”
presented in the CSE offices its business/strategic plan to the
analysts, EPEY, institutional and private investors, the media,
financial news providers and other interested parties.
On the 17th of November the company “PHC Franchised Restaurants
Ltd” presented in the CSE offices its business/strategic plan to the
analysts, EPEY, institutional and private investors, the media,
financial news providers and other interested parties.
On the 24th of November the company “K. Athienitis Contractors -
Developers Ltd” presented in the CSE offices its business/strategic plan
to the analysts, EPEY, institutional and private investors, the media,
financial news providers and other interested parties.
On the 24th of November the company “Atlantic Insurance Co Ltd”
presented in the CSE offices its business/strategic plan to the
analysts, EPEY, institutional and private investors, the media,
financial news providers and other interested parties.
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