Upon the completion of such transfer of the pledged shares to the name of the pledgee or its nominee, the pledgee under Cyprus law, holds the pledged shares, as an equitable mortgagee, and not as an absolute owner, subject to the equitable right of the pledgor to redeem, by settling all the secured obligations under the pledge, including any expenses of enforcement of pledge. As long as, the pledgee does not proceed to give a reasonable written notice as per Section 134 of Contract Law CAP. 149 to the pledgor, about its intention to proceed to sell the pledged shares by public auction, or private treaty, provided a valuation of same was prepared by a reputable valuer, and to actually sell such pledged shares, the pledgor’s equitable right to redeem exists, and it cannot be rejected by the pledgee. The best and more secure method of selling pledged shares (provided the terms of the pledge permits same), is through a public auction, to be conducted in a proper manner, and transparently, and after obtaining of at least one (1) valuation of the pledged shares from a reputable valuer. The pledgee or its nominee, cannot acquire or purchase the pledged shares, through a private treaty, because such a transaction can be questioned by the pledgor as constituting a conversion, exposing the pledgee to liabilities. A pledgee or its nominee, can participate in a properly and transparently conducted public auction of the pledged shares, and it can legally acquire same, without its ownership of the pledged shares to be subject to the equitable right of pledgor to redeem.