Ann: Managing Director's AGM Presentation, page-102

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hilldweller

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17/07/20

20:56

Post #: 45948265
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Originally posted by itzgr82balive: ↑

Highlights from the meeting:

All four directions from ASX have now been satisfied, the last being the independent expert report on disclosure, which essentially stated ISX had met its disclosure obligations, JK said that the directors have been vindicated on their continuous disclosure obligations,
ISX released the report to the market this morning and it will be released in a letter to shareholders in the afternoon on Monday if ASX does not release ISX's disclosure of the independent expert report by that time,
The independent experts also stated that they assessed ISX as an ASX 300 company.
Besides the damages claim of 27m against ASX already submitted, a further 30m has been finalised with lawyers and is soon to be submitted. There is a third and probably a fourth claim as well,
ISX had been applying for the ability to do Clearpay with APRA since 2018,
ISX IS not considering relisting on NSX because looking to list on a premium exchange and also NSX is really a venture exchange for smaller companies entering the stage, Additionally ISX believes exchanges should not take a competitive position against other companies in the exchange,
When ISX re-lists on another exchange all shareholders will have essentially the same relationship of shares to total shares as have today (exception will be options taken up and/or employee shares in the meantime),
Opportunities exist for purchase of other fintechs,
Brexit has provided opportunities with full licence expected in U.K. which will allow ISX to offer of services in the U.K. as well as access to Bank of England and other financial institutions,
Flykk to be released in August. Flykk have merchants in the pipeline and will provide the necessary growth for future,
Assessment of risk is defined by EU, not defined by ASX or AFR and high-risk customers for ISX is less than 7.5%,
Independent experts confirmed that no single customer is considered material,
Visa's new position is believed to be anticompetitive and ISX has issued arguments to European Union Director-General Competition and ACCC. ISX believes they have a good argument.
Cordial email today from ASX from new compliance director,
No foreign exchange being spoken to currently has been concerned with what is happening with ASX,
ASX is 18th largest exchange - better things to come if list on larger exchange,
ISX is still cash positive, but have been impacted by ASX and Covid-19. Expect to be profitable again by end of year.
Absolutely no infringement notices from ASIC. No infringement notices or sanctions from any regulator in Europe or in Australia.
Voting overwhelmingly supports ISX and directors.
The board fully supports JK and believes he is the brains behind ISX and its future.

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Did I hear correct when JK said that the ASIC investigation was at the request of the ASX and they are both asking the same questions ?
ISX Price at posting: $1.07 Sentiment: Hold Disclosure: Held
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