The Company has become aware that there are matters of technical non-compliance with the Corporations Act and the ASX Listing Rules in respect of the issue of shares under its recently completed Entitlement Offer and associated placements of shortfall (Affected Shares), including to its major shareholder
Whilst it has received no related complaints from any shareholders, the Company is taking all necessary steps to rectify such breaches on an expedited basis, including to cleanse and ratify the issue of all Affected Shares, and seek any necessary waivers or relief from the ASX.
The Company expects that, amongst other things, this will include filing an application with the
The Company is also seeking advice and engaging with ASX and ASIC in terms of the most appropriate actions to address any inadvertent contraventions regarding certain of the Affected Shares issued to ISX, and currently anticipates that it will likely hold a shareholders meeting to ratify certain issues to ISX for both Corporations Act and ASX Listing Rule purposes, and may seek orders from the Court or relief from ASIC to enable such shareholder approval to apply with retrospective effect.
The Company will provide further updates to the market in due course, including in relation to any Court application, shareholders meeting, ASX or ASIC reliefs, and as to when trading in its securities might be expected to be reinstated by ASX.
About
About ISX Financial:
ISXMoney's multi-Currency IBAN accounts coupled with
ISX Financial's consumer product "flykk" is a digital wallet that combines all its financial technology and infrastructure to create a retail product. flykk(R) is a two-sided network developed on ISX's own platform that links both merchants and consumers around the globe to facilitate the processing of payment transactions. flykk(R) allows customers to use their account for both purchase and paying for goods, as well as to transfer and withdraw funds, with the benefits of a Diners card for point of sale transactions.
ISX Financial's subsidiary Probanx(R) also develops payment infrastructure for third parties, and provides connectivity to central banks, banks around the world and major card schemes.
Contact:
Company Secretary
E: cosec@nsx.com.au
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