SP1 0.00% $1.07 southern cross payments ltd

Speaking of performance shares, there are also the new or latest...

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    Speaking of performance shares, there are also the new or latest milestone shares anns back in April 2019...

    As per I think @jlo previous post back in April 2019


    On 5 December 2017 - JK and Todd Richards were issued 500,000 shares each for reaching the following milestones:


    1. Establish operational teams in Melbourne and Cyprus; and
    2. Granting of electronic eMoney Institution license by the Central Bank of Cyprus; and
    3. Revenue generation commencement in late 2016 by satisfying compliance legislation; and
    4. Meeting key security and card scheme requirements by way of ISO27001 and PCI DSS certification; and
    5. Completion of applications of card schemes principle memberships for Visa and Mastercard and executed a partnership agreement with JCB International; and
    6. Other corporate initiatives.

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    Now fast forward to today (april 2019) JK another 1mil shares and 250k each to other board members for reaching the following milestones:

    (a) establishment of operational teams in Melbourne and Cyprus in line with the Company's objectives and strategy.
    (b) the grant of an Electronic eMoney Institution License by the Central Bank of Cyprus.
    (c) establishment of the system required to deliver a working product to the Company's merchant customers.
    (d) establishment of a working solution to provide identity services in line with current compliance legislation thereby allowing the Company to commence revenue generation in 2016.
    (e) completion of capital raising initiatives to provide sufficient working capital to meet the Company objectives.
    (f) the meeting of key security and card scheme requirements by way of ISO27001 and PCI DSS certification.
    (g) completion of applications for principal membership with main card schemes Visa and MasterCard and execution of a partnership agreement with JCB International.
    (h) completion of the application with the Australian Prudential Regulation Authority to become an Australian Deposit Taking Institution.
    (i) Entry to the S&P ASX/300 Index – effective 18th March 2019.

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    Do the two lists look for the most part the same with the exception of the ADI application (not approval but application) , doing a cap raise and being placed in an index - by the way that's not correct either - they have been entered into the All Ords not the ASX300. Why don't they know what index they are in?!

    Anyone have any issues with these new milestone shares? when in my personal opinion the lists look the same apart from a couple of added ones, and circa 2m shares looks like a lot for more or less the same list?

    If not a similar list then why include previous performance milestones into the new set?




 
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