Karkotis Manufacturing & Trading Public Ltd fined €50,000 by CySEC

The Board of the Cyprus Securities and Exchange Commission (CySEC) has informed the public that, at the meeting held on 5th March 2018, decided to impose an administrative fine of €50.000 to Karkotis Manufacturing & Trading Public Ltd for violation of section 130 of The Cyprus Securities and Cyprus Stock Exchange Laws (L.14(I)/1993).

The company did not ensure equal treatment for all shareholders when selling property in the years 2006 and 2007, but acted in the benefit of its major shareholder, directly and/or indirectly through a related company.

The official announcement can be seen here.

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