Cyprus-listed holding company iDNA Genomics Public Ltd announced on Thursday through the Cyprus Stock Exchange (CSE) that the trustee of its corporate bonds has resigned from the position.

The resignation concerns the bonds with international securities identification number CY0240422119 and trading code iDNAB28.

The trustee stepped down from the post in accordance with the provisions outlined in the Trust Deed dated January 18, 2023.

The departure became effective upon the expiry of the prescribed notice period set out in the governing agreement.

Under the terms of the Trust Deed, the power to appoint a replacement rests solely with the company, the announcement mentioned.

Despite efforts made by the firm to date, the procedure to appoint a new trustee has not yet been completed, it added.

The company said that it is continuing its efforts to select a suitable entity to assume the trust responsibilities.

Bondholders are being kept informed as the organisation works to finalise the appointment of a successor.

The company stated that it will make a further announcement as soon as there is a significant development regarding the matter.