CySEC waives takeover bid requirement for Petrolina shares

The Cyprus Securities and Exchange Commission (CySEC) announced on Monday that it has granted Dinos Lefkaritis an exemption from the obligation to submit a mandatory public takeover bid following a planned acquisition of additional shares in Petrolina (Holdings) Public Ltd. The decision was taken by the commission’s board on July 20, 2026, following an application submitted by Lefkaritis and was announced on July 27, 2026. The exemption relates to the acquisition by Lefkaritis of up to 10,000 shares in Petrolina (Holdings) Public Ltd. According to the commission, the proposed acquisition represents up to 0.0114 per cent of the company’s issued share capital and voting rights. CySEC explained that, without the exemption, the acquisition would have triggered an obligation for Lefkaritis to submit a mandatory public takeover bid to the remaining shareholders of Petrolina under the provisions of the takeover legislation. The commission said the approved share acquisition must be completed within six months at the latest.