Securities administration - Cyprus
Income collection
There is no standard definition of either payment date or ex-date in Cyprus. The actual payment depends on the availability of the cash.
| Market Record date (MRD) | Ex-date | Basis for entitlement | Standard interest calculation rule |
| Coupon payment: corporate bonds | |||
| Ex-date +1 business day | First trading date without entitlement | Settled position on record date | Varies depending on terms and conditions |
| Coupon payment: government bonds | |||
| Ex-date +1 business day | First trading date without entitlement | Settled position on record date | Nominal * semi-annual interest rate |
| Dividend payment a | |||
| Ex-date +1 business day | First trading date without entitlement | Settled position on record date | Not applicable |
a. Dividends must be paid within 40 business days of the announcement.
Corporate actions
Most common corporate events
The most common events in the Cypriot market are rights subscriptions.
| Market Record date (MRD) | Ex-date | Basis for entitlement | |
| Corporate events with entitlement | Ex-date +1 business day | First trading date without entitlement | Settled position on record date at close of business |
Tender offers
The tender of offered shares is only accepted by the market/agent bank for non-traded, available safekeeping positions at the CSD.
Organisation of AGM/EGMs
AGMs are normally held by companies between May and July.
Local companies are required to publish or announce a GM at least 21 days before the meeting date of an AGM and at least 14 days before that of an EGM.
Under Cypriot legislation, no blocking of shares is required for participation in a GM and the shares are available for trading between the record date and the date of the GM. Record date is set at 48 hours (two calendar days (end of day)) before the date of the GM unless otherwise announced by the issuer.