SP1 southern cross payments ltd

ASIC Commences Proceedings Against ISX and JK, page-415

  1. 2,045 Posts.
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    revenue goals are fine, but there is an implied understanding that it should be revenue achieved in the ordinary course of a growing business. not through a one-off spike, contracted at the last minute (within 6 weeks of the drop-dead date), and where the revenue returned to normal levels afterwards. if you're happy with performance shares worth over $60M (at the time) and 1/3rd of the company being issued (significant dilution) on a technicality (at best) or under a dubious scenario (at worst) then that's fine - but the wider market and average shareholder isn't quite as accepting..

    on the AML side of things, why are holders continuing to suggest it is a non-issue? ISX itself admitted to its own shortcomings in the governance space and belatedly tried to take steps to rectify - after the termination was issued, far too late in the game for Visa's liking.. Visa wasn't going to sit around and wait forever for ISX to get itself up to speed

    https://hotcopper.com.au/data/attachments/2719/2719077-507057e4476079dc03168452dac513bf.jpg


    Last edited by pomhat: 09/12/20
 
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