Independent Expert Clears ISX on Visa Compliance
Melbourne, Australia, Sep 8, 2020 - (ABN Newswire) - The Supplementary Independent Expert Report on iSignthis' (ASX:ISX) (HAM:TA8) adherence to continuous disclosure requirements vindicates the position adopted by ISX in relation to disclosure of its dispute with Visa.
Accordingly, it ends ASX's baseless campaign to portray ISX as non-compliant with the continuous disclosure regime, in an effort to bolster its defence to ISX's claim in the Federal Court of Australia (reference: para 73 in ASX's defence, belatedly filed with the Court on 4 September 2020).
ISX has complied with each of the directions given to it by ASX on 1 May 2020, as a pre-requisite for reinstatement of ISX's shares to quotation.
In addition to complying with ASX's directions, ISX has repeatedly offered a 12 month voluntary escrow of the performance shares that were issued in 2018. ASX had previously indicated in in late 2019 that a 12 month escrow would support a decision to reinstate ISX shares to quotation. As events have transpired, ISX shares have now been suspended for almost 12 months, which has produced an equivalent outcome to a 12 month escrow.
Mr Karantzis, CEO of iSignthis Ltd said "The board of iSignthis know of no reason why ISX's shares should remain suspended from trading and, accordingly, the board of ISX demands of the ASX that the suspension be lifted immediately.
ISX shareholders have suffered hardship during a pandemic under a suspension imposed by the ASX that has been based on gossip columns, short seller reports, rumour and innuendo by the ASX's own admission in their Federal Court defence."
To view the Independent Expert Report, please visit:
About iSignthis Ltd:
iSignthis Ltd is a hybrid monetary financial institution and also a RegTech leader in remote identity verification, payment authentication with deposit taking, transactional banking and payment processing capability. iSignthis provides an end-to-end on-boarding service for merchants, with a unified payment, electronic money and identity service via our Paydentity(TM) and ISXPay(R) solutions.
By converging payments and identity, iSignthis delivers regulatory compliance to an enhanced customer due diligence standard, offering global reach to any of the world's 4.2Bn 'bank verified' card or account holders, that can be remotely on-boarded to meet the Customer Due Diligence requirements of AML regulated merchants in as little as 3 to 5 minutes. Paydentity(TM) has now onboarded and verified more than 1.5m persons to an AML KYC standard.
iSignthis Paydentity(TM) service is the trusted back office solution for regulated entities, allowing merchants to stay ahead of the regulatory curve, and focus on growing their core business. iSignthis' subsidiary, iSignthis eMoney Ltd, trades as ISXPay(R), and is an EEA authorised eMoney Monetary Financial Institution, offering card acquiring in the EEA, and Australia.
ISXPay(R) is a principal member of Mastercard Inc, Diners, Discover, (China) Union Pay International and JCB International, an American Express aggregator, and provides merchants with access to payments via alternative methods including SEPA, Poli Payments, Sofort, PRZ24 and others.
Probanx Solutions Ltd, a wholly owned subsidiary of iSignthis Ltd, provides API based access to CORE Banking solutions, SEPA Core, SEPA Instant and SEPA business scheme, for neobanks, banks, credit unions and emoney institutions, and provides a bridge to the Eurosystem's Central Bank of Lithuania's CENTROLink service.
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