21st October is penalty date with ASIC. A shareholder said Timothy Hart wants to settle the fines and then fold the company. What Timmy does is what Karantzis wants, he has him and the other Directors by the wallet. I think ASIC and SP1 will come to an arrangement. It will be cents in the dollar on the fines. SP1 will say take that or we fold the company. ASIC get a partial win, Karantzis/ ISX get a token slap but clears some regulatory air. Karantzis will be banned to be a Director of an Australian Company but that’s like water off a ducks back for Enron. He's beefing up UK entity so maybe he steps aside. If he does it will be only to appease regulators or to clear a path to listing. Karantzis is the visionary so he is key moving forward so he’ll be in control no matter what. The release of the CEO Ajay investor Relations video the other day was supportive that they going to list. He stated the company’s growth is up there with Wise, Adyen and Nuvei. All multi billion Euro companies. He says their institutional investors have their support and are wanting to lift their shareholdings. He says they have bankers in place, sponsors in place and a prospectus in play. The AGM is close so let’s see what roadmap is shared.
If you take the regulatory shite out of this and the bad press and the Karantzis cloud this would list at €10-20 plus a share.
SP1 Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
