The Cyprus Stock Exchange (CSE) on Wednesday announced a number of changes to its major indices, following the suspension of trading in the shares of Salamis Tours (Holdings) Public Ltd.

According to a brace of announces published on the exchange’s website, these adjustments will come into effect on Thursday, April 24, 2025.

In its statement, the CSE stated that Salamis Tours will be removed from the FTSE/CySE20 Index and will be replaced by Woolworth (Cyprus) Properties Plc.

The decision is based on Rule 6.4 of the FTSE/CySE20 Index Management Rules, which governs the replacement of constituent companies in the event of a trading suspension.

Woolworth (Cyprus) Properties Plc had previously been placed on the reserve list during the last review of the FTSE/CySE20 Index, making it eligible to step in as a replacement.

The CSE also confirmed that Salamis Tours will be removed from the General Index and the Alternative Market Index.

This decision is in accordance with Rule 4.1 of the Basic Index Management and Calculation Rules for the CSE’s equities market.

The rule stipulates that any company whose shares have been suspended from trading for more than 30 calendar days must be removed from its respective index on the 31st day.

In both cases, the delisting reflects regulatory provisions designed to ensure the continued integrity and representativeness of the indices.

Salamis Tours, a well-known entity in Cyprus’ business landscape, has not had its shares traded for over a month, thereby triggering the automatic removal mechanism.

The FTSE/CySE20 Index, which represents the top-tier companies listed on the CSE, serves as a benchmark for institutional and retail investors alike.

Similarly, the General Index and the Alternative Market Index track the broader performance of the market and offer insight into the activity of smaller and mid-tier firms.