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Deletion of Liberty Life Insurance shares from the CSE

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Deletion of Liberty Life Insurance shares from the CSE

The Cyprus Stock Exchange announces that after a recommendation of the Hellenic Capital Market Commission and a relevant decision taken by the Stock Exchange approved by the Hellenic Capital Market Commission, it will proceed with the delisting of Liberty Life Insurance Public Company Ltd (Regulated Market), according to the power provided to him by Article 178 (1) of the Cyprus Securities and Exchange Law, in view of the fact that the conditions for the smooth operation of the stock market on the company’s securities have disappeared and its significant ongoing obligations are not met, resulting in jeopardizing the interests of investors.

Specifically for Liberty Life Insurance Public Company Ltd the following are mentioned:

(a) Non-compliance of the company with its obligation to submit and disclose:

– the Annual Financial Report for the year ended 31/12/2018,

– the Semi-Annual Financial Report for the period ended 30/6/2019,

of the Annual Financial Report for the year ended 31/12/2019 and

– the Semi-Annual Financial Report for the period ended 30/6/2020.

(b) The company announced on November 4, 2020 that the Insurance Superintendent has revoked its operating license.

(c) The company has not appointed new external auditors, following the resignation of its auditors on August 6, 2020.

(d) The company has not set a timetable for the disclosure of the above pending financial information.

The delisting of the shares of the above company from the Stock Exchange will be valid from January 18, 2021. The securities of the company will remain suspended until their delisting. It is noted that on the same date, the securities of the company will be deleted from the Central Depository and Central Securities Register, in accordance with Article 19 of the Cyprus Securities and Exchange (Central Depository and Central Securities Register) Law.

Source: www.philenews.com

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