We also know from this announcement that JKs brother is the only Angel investor to have holdings in RED5. So again, no requirement to disclose individuals who hold RED5 shares, as pointed out in the last paragraph. iSighthis Ltd and Consideration Shares
Prior to listing, the following individuals (“Angel Investors”) invested cash into the Company and in return were granted rights by iSignthis Ltd (BVI) that, upon expiry of the escrow period per the December 2014 Prospectus (“the Prospectus”), led to the issue of shares (“Consideration Shares”) in the Company. 1. Nickolas John Karantzis (CEO and Managing Director) 2. Timothy Hart (Non-Executive Chairman) 3. Todd Richards (Company Secretary) 4. Andrew Karantzis (Chief Sales Officer) 5. Konstantina Karantzis (Mother of Andrew and Nickolas John Karantzis) 6. Ian Tetro 7. Benjamin Walmsley 8. David Edmonds The Consideration Shares were issued to iSignthis Ltd (BVI) to be held in escrow for a period of two years from 16 March 2015. iSignthis Ltd (BVI) acted as trustee for the Consideration Shares such that the escrow conditions of the Prospectus could be managed via a single entity. No directors or their related parties have sold shares in ISX since its relisting on the ASX in March 2015.
Red 5 Solutions Ltd (“Red 5”) Performance Rights (Class A, B and C) were issued to a number of investors and staff who contributed to the performance of the Company in its initial years, as per the Prospectus. Red 5 acts as the entity that holds Performance Rights on behalf of a number of early-stage staff. The Company can confirm that of the eight Angel Investors listed above just one individual also has holdings in Red 5. That person is Mr Andrew Karantzis, who has also worked as an employee of the Company as Chief Sales Officer and has been issued Performance Rights. The Company can confirm that no individual who can be classified as a “related party” under Section 228 of the Corporations Act (2001) has a shareholding in Red 5 or any beneficial or pecuniary interest in shares held in Red 5. The Company Secretary of Red 5 is Ms Irene Naumova, the wife of Mr Andrew Karantzis.
ISX Price at posting:
$1.07 Sentiment: Hold Disclosure: Held