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.