Existing shares of the Bank of Cyprus have been halted from further trading on the CSE and ATHEX exchanges, in accordance with a ruling from the District Court of Nicosia.

The ruling validates an agreement between the Bank of Cyprus Public Co. Ltd., the Bank of Cyprus Holdings Public Ltd. Co. and the bank’s shareholders. It becomes effective Jan. 10.

The deal applies only to existing shares. New shares will be issued and traded beginning Jan. 19.

According to a press release, specific transactions are suspended: “off-exchange transfers, transfers between CSE and ATHEX and vice versa, transfers between operators, transfers from operators to the special investor account and vice versa and over-the-counter transactions with a transaction date after Jan. 9, except if such transactions are required for the settlement of stock exchange transactions carried out until and including Jan. 9.”

To learn more, view the announcement on the Bank of Cyprus website.