Dear Shareholder
On behalf of the Company, iSignthis Ltd (ASX: ISX | FRA: TA8) (“theCompany”) ISX acknowledges yesterday’s decision of the Federal Court ofAustralia to not grant the Company interlocutory relief in its legal caseagainst the ASX.
Please find attached a Market Update that was placed on the ASXannouncement platform yesterday at circa 4.30 pm and again today.
Unfortunately, the ASX has not allowed the Company to communicatewith its shareholders via the ASX platform, so we are writing to ourshareholders directly. By Copy to ASX under LR17.3 and 17.3.1, we expect thatthe ASX will publish this communication in order to ensure that there is aninformed market.
The Market Update demonstrates that the Company is willing tocomply with all Directions of the ASX, which we received in writtencommunication from the ASX of todays date.
In addition, the Company today again wrote to the ASX, repeatedand extended its 17 December 2019 offer of escrow of the milestone performanceshares (as defined in the 2014 prospectus) by the directors, officers, SelectAll Enterprise Ltd and Red 5 Solution Ltd see attached). That offer is for 12months from the date of ISX shares relisting on the ASX.
ISX continues to work in the interests of our shareholders, andour priority is to have the Company’s securities relisted on the ASX.
Given that ISX has agreed to full compliance with the ASX’sDirections, together with the Company’s further offerof escrow, we would expect that this will allow for ISX securities torecommence trading.
In respect of the findings of the Federal Court, ISX has electednot to appeal the court’s decision regarding one interlocutory application.
It is important to note that the Company does intend tocontinue its legal case against the ASX.
To be clear, the board of ISX rejects the ASX’s Statement ofReasons, which it considers to be a fundamentally flawed document that forms anumber of erroneous conclusions based on factually incorrect information andassumptions.
Finally, ISX would to reiterate that ASIC confirmed at a meetingon 2 October, 2019 (which is on official transcript) that it was notinvestigating the Company at that point in time. It also did not request thesuspension of ISX securities.
The Company has been proactively engaging with ASIC which has beenexamining the issues raised by the ASX since 8 October, 2019, following thesuspension of ISX.
ISX has at all times acted is in the best interest ofour shareholders.
Thank you for your continuing support.
Regards
