Could this be part of a truce deal with ASX/ASIC to move forward
Melbourne, 29th December 2021: The Board of iSignthis Limited (“iSignthis” or the “Company”) has been informed today by Mr John (NJ) Karantzis Chairman that he will step aside from his role as Managing Director, but will remain as a non-executive director of the Company. Mr Tim Hart, Executive Chairman said today: “With the demerger from ISX Financial EU Plc now complete and Mr Karantzis relocating to Cyprus, it is appropriate for him to step aside as Managing Director to allow him to focus on the demerged EU business, which also owns 19.9% of the NSX Limited. I want to thank John for all his hard work and dedication to build a world class business over the last ten years. His passion for the Company and neverending optimism as CEO and Managing Director will be difficult to replace, but we are thankful that John has agreed to stay on as a non-executive director.” Mr Karantzis said “I’d like to thank the board and in particular Mr Hart for their support over the ten years since the iSignthis business was founded. I also take the opportunity to thank all our shareholders for their support and patience over the last 2 years. Whilst I’m stepping down as CEO and Managing Director, I remain committed as a non-executive director to the Company, and in particular to holding the ASX Ltd to account for their unprecedented actions against the Company and its 10,000 plus retail shareholders.” In the new year the Board will review its structure. In the interim period, Mr Tim Hart will step up as the Executive Chairman. Authorised by the Executive Chairman
ISX Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
