Dear Shareholder
On behalf of the Company, iSignthis Ltd (ASX: ISX| FRA: TA8) (“the Company”) ISX acknowledges yesterday’s decision of the Federal Court of Australia to not grant the Company interlocutory relief in itslegal case against the ASX.
Please find attached a Market Update that was placed on the ASX announcement platform yesterday at circa 4.30 pm and again today.
Unfortunately, the ASX has not allowed the Company to communicate with its shareholders via the ASX platform, so we are writing to our shareholders directly. By Copy to ASX under LR17.3 and 17.3.1, we expect that the ASX will publish this communication in order to ensure that there is an informed market.
The Market Update demonstrates that the Company is willing to comply with all Directions of the ASX, which we received in written communication from the ASX of todays date.
In addition, the Company today again wrote to the ASX, repeated and extended its 17 December 2019 offer of escrow of the milestone performance shares (as defined in the 2014 prospectus) by thedirectors, officers, Select All Enterprise Ltd and Red 5 Solution Ltd see attached). That offer is for 12 months from the date of ISX shares relisting onthe ASX.
ISX continues to work in the interests of our shareholders, and our priority is to have the Company’s securities relisted on the ASX.
Given that ISX has agreed to full compliance with the ASX’s Directions, together with the Company’s further offerof escrow, we would expect that this will allow for ISX securities to recommence trading.
In respect of the findings of the Federal Court,ISX has elected not to appeal the court’s decision regarding one interlocutory application.
It is important to note that the Company does intend to continue its legal case against theASX.
To be clear, the board of ISX rejects the ASX’sStatement of Reasons, which it considers to be a fundamentally flawed document that forms a number of erroneous conclusions based on factually incorrect information and assumptions.
Finally, ISX would like to reiterate that ASICconfirmed at a meeting on 2 October, 2019 (which is on official transcript)that it was not investigating the Company at that point in time. It also didnot request the suspension of ISX securities.
The Company has been proactively engaging withASIC which has been examining the issues raised by the ASX since 8 October,2019, following the suspension of ISX.
ISX has at all times acted is in thebest interest of our shareholders.
Thank you for your continuing support.
Regards
N J (John) Karantzis
Managing Director, iSignthis Ltd
