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Ann: ASX Update on status of ASX Directions, page-105

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Gsinc

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23/07/20

08:28

Post #: 46036307
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Originally posted by casajack: ↑

The problem with the Visa issue is that it was never announced clearly as to why it was suspended then terminated. ISX made the call that it was not material, when quite clearly ASX think it is material - if I was a holder I would think that it probably is - the question following would be is Mastercard next. Fully disclosure still hasn't happened.

Having said that above, I believe this is an easy issue to resolve with a retrospective announcement. This would close the Visa issue completely. No one, bar JK himself probably, knows exactly what happened here.

The ongoing suspension now relies on the above & conclusion of ASIC investigation. However, there was a hint ISX could trade if the milestone shares are fully agreed not to be sold until ASIC draws its conclusion. IF ISX directors agree to both of the above issues - it could essentially be trading in the next month or so.

I think the court case is a distraction from the core business of ISX & personally think the damages claims are overblown.

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I think it's very much fair to say the Visa issue was material. The reason being is the announcement on August 8th 2019 promoting the VISA deal was market sensitive. Very hard to then turn around and say it's not material 6 months later.

Many people would have bought shares based on that announcement. Also how many people, if the stock was listed would have sold their shares on an announcement of the deal ending

Last edited by Gsinc: 23/07/20

ISX Price at posting: $1.07 Sentiment: None Disclosure: Held
9 Upvote

4 Great analysis

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Ann: ASX Update on status of ASX Directions, page-105

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