Visa, page-2

(reposted here from other thread)
Re Today's Letter to Shareholders re Visa Relationship & ASX Suspension - As usual, very straight-forward and plain writing from JK.

Good to know the issue with Visa, albeit not good news, though possibly pending the outcome of:
"The Company is in the process of preparing submissions to competition regulators in both Australia and
the European Union regarding the impact of proposed rule changes by Visa. The Company has, in the
last 72 hours, already made a preliminary submission to a key European regulator.
The Company's position is that the proposed Visa rules that take effect in October this year will restrict
trade and competition."

Re ASX Suspension comments below, it seems incredible to me that ASX can ride roughshod by demanding details of a company's commercially sensitive negotiations etc, especially given the commercial sensitivities between ISX and ASX business models????:

"In the midst of sensitive negotiations and regulatory submissions, the ASX has issued a further query
letter seeking extraordinary detail about the Company's commercial arrangements with Visa. The
Company has advised ASX that it is inappropriate for it to be requesting and releasing information
regarding current negotiations and submissions, as it may compromise our ability to reach outcomes of
best effect for the Company and shareholders."

The battle continues unabated. Roll on the court case to lift suspension - and maybe ASIC involvement though I have little hope for anything meaningful from that, at this stage

All imo only