SP1 southern cross payments ltd

Ann: Demerger of European Businesses, page-30

  1. 1,264 Posts.
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    Re "ISX will have sweet FA profits coming in to keep up the fight in the courts ." No, that is covered off by:

    After the demerger, the key components of ISX's balance sheet would become:
    ASSETS
    • A$6.6 million convertible note in ISXFEU
    • 100% shareholding in ISX Financial Pty Ltd, a proposed applicant for various
    Australian business regulatory approvals (APRA, RBA)
    • Legal claim against ASX for damages for misleading and deceptive conduct1
    • Cash of approximately A$4.3 million2
    LIABILITIES
    • Immaterial
    Importantly, ISX will have sufficient cash to pursue its Federal Court litigation against ASX,
    which it will continue to do with vigour.
 
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