On behalf of the Company, iSignthis Ltd (ASX: ISX | FRA: TA8) (“the Company”) ISX acknowledges yesterday’s decision of the Federal Court of Australia to not grant the Company interlocutory relief in its legal case against the ASX.
Please find the Market Update that was placed on the ASX announcement platform yesterday at circa 4.30 pm and again today.
Unfortunately, the ASX has not allowed the Company to communicate with its shareholders via the ASX platform, so we are writing to our shareholders directly. By Copy to ASX under LR17.3 and 17.3.1, we expect that the ASX will publish this communication in order to ensure that there is an informed market.
The Market Update demonstrates that the Company is willing to comply with all Directions of the ASX, which we received in written communication from the ASX of todays date.
In addition, the Company today again wrote to the ASX, repeated and extended its 17 December 2019 offer of escrow of the milestone performance shares (as defined in the 2014 prospectus) by the directors, officers, Select All Enterprise Ltd and Red 5 Solution Ltd see attached).
That offer is for 12 months from the date of ISX shares re-listing on the ASX.
ISX continues to work in the interests of our shareholders, and our priority is to have the Company’s securities re-listed on the ASX.
Given that ISX has agreed to full compliance with the ASX’s Directions, together with the Company’s further offer of escrow, we would expect that this will allow for ISX securities to recommence trading.
In respect of the findings of the Federal Court, ISX has elected not to appeal the court’s decision regarding one interlocutory application.
It is important to note that the Company does intend to continue its legal case against the ASX.
To be clear, the board of ISX rejects the ASX’s Statement of Reasons, which it considers to be a fundamentally flawed document that forms a number of erroneous conclusions based on factually incorrect information and assumptions.
Finally, ISX would to reiterate that ASIC confirmed at a meeting on 2 October, 2019 (which is on official transcript) that it was not investigating the Company at that point in time. It also did not request the suspension of ISX securities.
The Company has been proactively engaging with ASIC which has been examining the issues raised by the ASX since 8 October, 2019, following the suspension of ISX.
ISX has at all times acted is in the best interest of our shareholders.
iSignthis®, ISXPay®, Probanx®, Flykk® & Paydentity™ are registered trademarks of iSignthis Ltd. iSignthis Ltd ABN 93 075 419 715 operating subsidiaries include iSignthis eMoney Ltd HE348009 (CY) , Authenticate BV KvK 62744968 (NL), Authenticate Pty Ltd ABN 49 600 573 233 (AU), Probanx Solutions Ltd (CY) & UAB Probanx Solutions (LT). iSignthis eMoney Ltd, trading as Flykk and ISXPay, is authorised by the Central Bank of Cyprus # 184.108.40.206 as an E.E.A Monetary Financial Institution. ℗ Patent applications pending/granted in Africa, Australia, Asia, The Americas, Europe and Oceania. WIPO Patent Application Nos: WO2011/120098, WO2016/094954, WO2016/101027, WO2016/187662, WO2018/090099, WO2018/170548