CSE: Continuation of the suspension of trading of the titles of Sea Star Capital
29/6/2017 13:50
Following a previous announcement dated 30 March 2017 and further to the decision of the Securities and Exchange Commission, the Cyprus Stock Exchange announces the continuation of the suspension of trading of the titles of Sea Star Capital Plc.
The Securities and Exchange Commission, pursuant to the power conferred by Article 127(2) of the Investment Services and Activities and Regulated Markets Laws of 2007 to 2016, has decided to ask the Council of the CSE to suspend the trading of the company's titles from 1 July 2017 until 31 August 2017.
The Commission has reached this decision since, according to the Company's Annual Financial Report for the year ended 31 December 2016, which was published on 28 April 2017, the continuation of the Company's operation as a going concern is not possible and the financial statements were prepared on the basis of liquidation. Moreover, the Company has no assets and cannot settle its liabilities of €131.7m.
The Securities and Exchange Commission, pursuant to the power conferred by Article 127(2) of the Investment Services and Activities and Regulated Markets Laws of 2007 to 2016, has decided to ask the Council of the CSE to suspend the trading of the company's titles from 1 July 2017 until 31 August 2017.
The Commission has reached this decision since, according to the Company's Annual Financial Report for the year ended 31 December 2016, which was published on 28 April 2017, the continuation of the Company's operation as a going concern is not possible and the financial statements were prepared on the basis of liquidation. Moreover, the Company has no assets and cannot settle its liabilities of €131.7m.
