It's hard to take a step back and get some perspective on the ASX's actions with respect to iSignthis over the past year. It really does seem to me that the whole Visa disclosure issue is really a mountain out of a mole hill, but would they treat every other listed stock exactly the same way?
As a holder of EML I keep tabs on their announcements and there have been a couple of them this year which involved interactions with the ASX that I found very interesting:
The first was in January when EML published on their own website that they had landed a contract with the NSW department of health. There was no announcement via the ASX or anywhere else, but as word of the deal spread the share price rocketed. Then at some point in the afternoon we get this trading halt from the ASX:
https://cdn-api.markitdigital.com/apiman-gateway/CommSec/commsec-node-api/1.0/event/document/1410-02192704-1L17R9BRMFOCP1DQS3MH014SCF/pdf?access_token=cI6eVT1dZodn6jOrSc2FmfNrPrcV
Followed about an hour later by an official announcement from EML via the ASX which discloses the deal, then the stock is trading again. Whoopsie, just a minor oversight, but the ASX was kind enough to point out the error to them and allow them to correct it. After all, most companies can forget to disclose price sensitive information from time to time right? It's no big deal.
Then in May we had this little oversight where a few million shares were issued which shouldn't have been:
https://cdn-api.markitdigital.com/apiman-gateway/CommSec/commsec-node-api/1.0/event/document/1410-02236965-5DCGOGRGCA99TBQNARI7H5HSPU/pdf?access_token=cI6eVT1dZodn6jOrSc2FmfNrPrcV
Once again, this was all squared away with the ASX, steps were taken to rectify etc, etc, no need for a halt or suspension of trade.
I know both these situations aren't exactly identical to ISX, but I can't help but wonder if ISX would be treated the same as this other FinTech company had they made the same errors.
- Forums
- ASX - By Stock
- SP1
- Ann: ASX Query Letters re ISX suspension & termination by Visa
Ann: ASX Query Letters re ISX suspension & termination by Visa, page-183
-
- There are more pages in this discussion • 367 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SP1 (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online