Cypriot firm to list new employee shares on CSE

Cypriot technology company NETinfo announced this week that 192,310 new ordinary shares issued as free shares to staff will be admitted to trading on the Cyprus Stock Exchange (CSE).

The announcement relates to the admission to trading of new shares arising from the granting of free shares to NETinfo Plc employees, under European and Cypriot securities law.

The document was prepared under Article 1(5)(h) of Regulation (EU) 2017/1129, which governs prospectus requirements for securities admitted to a regulated market.

NETinfo clarified that the document does not constitute a prospectus and that its content has not been approved by any supervisory authority, including the Cyprus Securities and Exchange Commission.

The company stated that it assumes full responsibility for the accuracy and completeness of the information provided, which was prepared solely for the admission of the new shares to trading.

NETinfo was incorporated in Cyprus on April 3, 2000 as a private limited company under the name NETinfo Services Ltd.

On January 10, 2007, the company changed its name to NETinfo Plc and converted into a public company under the Companies Law.

The company’s issued shares were first admitted to trading on the New Market of the Cyprus Stock Exchange on April 22, 2016.

On April 8, 2021, NETinfo moved to the Regulated Market of the Cyprus Stock Exchange.

NETinfo operates in the design and delivery of banking systems and advanced digital solutions in Cyprus and internationally.

The registered office of the company is located at 23 Aglandjias Avenue, 2108 Nicosia, with contact telephone number 22-753636.

NETinfo confirmed that its Legal Entity Identifier is 213800R1Y4HOZKOUVA89.

As a listed company, NETinfo complies with Cyprus securities legislation and transparency laws, as well as International Financial Reporting Standards adopted by the European Union.

At the date of the document, the company’s authorised share capital amounted to €2,820,547, divided into 12,820,670 ordinary shares with a nominal value of €0.22 each.

The issued share capital stood at €2,862,855, divided into 13,012,980 ordinary shares of the same nominal value.

The company confirmed that the 192,310 new shares are fully paid up and will be admitted to trading once approval is granted by the Cyprus Stock Exchange.

NETinfo said the free shares were issued under Special Resolution 1, which was approved at an extraordinary general meeting held on September 20, 2024.

The resolution authorised the board to issue and allocate up to 192,310 free shares through the capitalisation of the share premium reserve.

The company confirmed that the new shares carry the same rights as existing shares, including voting rights, dividend rights and free transferability.

Trading of the new shares will begin once the shareholder register is submitted electronically and approved by the Cyprus Stock Exchange.

The shares will be recorded in the Central Depository and Registry of the Cyprus Stock Exchange and allocated to beneficiaries’ accounts.

NETinfo said that the new shares will rank pari passu with existing fully paid shares and will only participate in dividends declared after their issue date.