Nominated Advisor

Emerging Companies Market

The Emerging Companies Market (“ECM”) of the Cyprus Stock Exchange (“CSE”) which launched in 2009 is governed by a simplified regulatory environment and does not fall under the mandatory provisions for regulated markets. It has therefore been specifically designed for the needs of small and emerging companies.

ECM is aimed at:

  • Private companies seeking for easy access to the secondary market;
  • Investors seeking alternative types of investments, taking into account that they are investing in companies with higher potential risk; and
  • Public companies unwilling to incur higher costs and the burdensome obligations of primary regulated markets.

Nominated Advisor

The role of a nominated advisor (“Nomad”) according to the Stock Exchange Markets RAA 379/2014 law, as amended, is to ensure that the issuer is appropriate to be listed on the ECM and to advice and monitor the issuer in respect of its compliance with the rules and regulations of the ECM.

Royal Pine & Associates has been approved by the CSE as having the required experience and organization to be a Nomad. Our Nomad services entail the following:

Services during admission

  • Assessment, presentation and representation of the issuer to the CSE certifying that the listing requirements are met and contribution to the fulfilment of all requirements up until the commencement of trading.

Services after admission [1]

  • Monitoring of the issuer’s continuous obligations and assisting with its smooth operation in the stock market environment and inter alia;
  • Ensuring that the issuer is informed of the need to fulfil all its obligations consistently and timely and observing and assisting the issuer as regards its compliance with the rules in force of the non-regulated/organized market.

Benefits of ECM listing

  • Easy access to the secondary market;
  • Simplified regulatory environment;
  • Lower costs than normal listing;
  • Profit arising from the sale of securities is exempt from income tax, special defence contribution and capital gains tax in Cyprus.

Royal Pine & Associates Limited has the required knowledge and expertise and can provide tailor-made advice that best suits the business and personal needs of each client.

Please contact our team to find out more.

1. If the issuer does not comply with its obligations, the nominated advisor takes any necessary actions in order to remedy any failure while informing the CSE on the nature of the failure and the measures that the issuer has taken on.

Posted on Jan 19, 2018

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