During a press conference held on the 19 February 2002 by the CSE Council, a presentation was made detailing the benefits and function of the Central Depository. The share registers of 38 companies are currently listed in the Central Register. The inclusion of all listed companies on the Central Register is felt by the CSE Council to be one of the measures which will help towards restoring confidence in investors, by the provision of clarity and safety for their share transactions. Investors have been urged to ensure that all titles held in their name carry the same details such as name, surname, identification card number etc., to ensure the correct transition of data into the Central system. Completion of the whole process will greatly depend upon the receipt of uniform of information concerning investors and titles in their name, by the CSE.
Concerning the current climate prevailing on the CSE, Chairman Paris Lenas stated that a meeting will be scheduled shortly between all officials involved in the stock market for examination of possible solutions to restore investors’ interest in the stock exchange and to look into problems which they have identified.
In line with its policy for expansion and enhancement of the CSE in the region, the CSE Council reported that they are having consultations with stock exchanges in the region for possible cooperations.
In reply to a question concerning the building to house the stock exchange, tenders have been invited for the architectural plans, which should be received by the 29 July 2002. A section of the grounds of the old GSP in the centre of Nicosia has been earmarked for construction of the building which, according to directives, should be a landmark in the capital. Provisions have been taken for the possible further expansion of the CSE and the building will have space equalling 8,400 sq.m. at a cost of around CYP 8 million. The project should be completed in around 3 to 4 years. The CSE’s move to the IMC building was under the proviso that the exchange should be housed in its own building within 5 years.
Concerning the current climate prevailing on the CSE, Chairman Paris Lenas stated that a meeting will be scheduled shortly between all officials involved in the stock market for examination of possible solutions to restore investors’ interest in the stock exchange and to look into problems which they have identified.
In line with its policy for expansion and enhancement of the CSE in the region, the CSE Council reported that they are having consultations with stock exchanges in the region for possible cooperations.
In reply to a question concerning the building to house the stock exchange, tenders have been invited for the architectural plans, which should be received by the 29 July 2002. A section of the grounds of the old GSP in the centre of Nicosia has been earmarked for construction of the building which, according to directives, should be a landmark in the capital. Provisions have been taken for the possible further expansion of the CSE and the building will have space equalling 8,400 sq.m. at a cost of around CYP 8 million. The project should be completed in around 3 to 4 years. The CSE’s move to the IMC building was under the proviso that the exchange should be housed in its own building within 5 years.
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