Financial Statements

By virtue of a decision of the Board of Directors of the Athens Stock Exchange (ASE) it was decided to amend P.D.360/1988 so as to ensure transparency, objectivity and credibility of the published data.

In particular the decision provides for the following :

- within one month following the expiry of each semester the companies quoted on the ASE must publish their financial statements, whereas in case of delay fines may go up to 50 million drs.
- only in exceptional cases the Capital Market Commission may extend this time limit by a duly reasoned decision for one month.
- financial statements must be drawn up in three columns, showing the developments of the company data for the last three semesters.