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Ann: Response to ASX Query Letter, page-153

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retiredyoung

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28/10/19

17:44

Post #: 41104780
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Originally posted by pastperformer: ↑

No, absolutely not.

If they are on-boarding more clients while losing others the net effect would could be marginal. The specific clients themselves are not meaningful, it's a significant change in revenue or expected revenue on a net annualised basis that would constitute a responsibility to disclose, especially if ISX was providing GPTV estimates.

The impact as far as I can tell, was 25%, this loss was quickly recovered in 1st quarter of the following year. I don't believe ISX had an obligation to report this in the form of a revised guidance. If they had provided a GPTV estimate within that period without an expectation of on-boarding new clients they would certainly need to revise that guidance.

That's what I think the ASX and ASIC are trying to ascertain, in a very detailed way.

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Hi pastperformer

I am not sure why the ASX is asking the questions but they appear to be checking whether ISX's disclosure is OK.

ISX did disclose information on two merchants in 2018:

April 2018:

July 2018:

ISX Price at posting: $1.07 Sentiment: None Disclosure: Held
11 Upvote

0 Great analysis

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