amaysim response to ACCC proceedings amaysim Australia Limited...

amaysim response to ACCC proceedings

amaysim Australia Limited (ASX: AYS) (“amaysim” or “company”) today confirmed that the Australian Competition and Consumer Commission (ACCC) has commenced proceedings against an amaysim subsidiary, amaysim Energy Pty Ltd (previously Click Energy Pty Ltd and trading as Click Energy), in relation to statements about discounts and savings of its energy products that it considers to have contravened the false or misleading conduct provisions of the Australian Consumer Law.

The company takes its obligations under Australian Consumer Law seriously and has appropriate processes in place to ensure compliance. The company rejects the claims being made by the ACCC and believes it has acted lawfully, ethically and in accordance with industry practice. The ACCC’s allegations relate to legacy Click Energy products which are no longer offered to the public.

To demonstrate the company’s willingness to work with the ACCC to address their concerns, Click Energy has: • reviewed and improved its statements regarding discounts and savings; and

• amended its product constructs, well ahead of recent changes to the National Energy Retail Law (all of Click Energy's discounted products are based off the relevant standing offer).

Click Energy is a challenger brand in the market and is committed to providing customers with transparent and competitive energy offerings.

The company has worked cooperatively with the ACCC throughout its investigation and considers its decision to commence proceedings is a disproportionate response.

As this matter is now before the Federal Court, the company is unable to make any further comment.