iSignthis’ official response to ASX’s “Statement of Reasons", page-63

@Scott th Ratbag

Does ASX have a reasonable potential of winning against ISX in Court?S

• It's their exchange, they control the terms and conditions, and clearly, from what history has taught us they can do pretty much whatever they like. ISX so far has been manhandled from face value.

IMO the Court may find against ASX on the ISX SOC and that this may force ASX to re-instate ISX trading on the ASX list, possibly by Court Order. Does this seem an unreasonable conclusion?

• No, it doesn't, the ASX is not a regulator, they can be instructed by the courts and also ASIC

How the ASX could refuse to re-list ISX if the Court finds against ASX?

• They won't refuse imo but more delay, this case is 12months away before heading the judgement? Do you honestly think ISX could remain on the ASX suspended for another 12 months? In my opinion, they are spearheading the ASX and bypassing their terms and conditions because they believe they are being mistreated. It's a catch22 here, if they don't they, lose confidence from both customers and shareholders, they are in a way forcing the courts and ASIC to step in here. The ASX can choose to select any small point in the SOR which doesn't meet the needs to relist.

Wouldn't such refusal damage ASX credibility, shareholder and corporate confidence in the "open and transparent" management of the exchange?

• You would think so right?

And lastly, what do you consider would be the probable outcome of ISX re-listing on ASX in terms of trading and sp?

For us to avoid free fall and cents in the $$$ sp range we would need any of the following to take place:

• ASIC steps in here and says the audit of performance shares is complete and meets there check, and confirms the two GT audits are correct.
• The ISX case gets a win soon (which it won't be, considering it's taken us just 5 months to get setting the actual hearing date) and the ASX concedes it unfairly treated ISX and overstepped it's position and acted as a regulator.
• ASIC steps in and says ISX is protected under 7.2.16 and everything it's done is under this corp act.

I urge everyone to email ASIC, we need an adult in the room to sort this out. They, imo, are the only one who can resolve this for all.