Quarterly Report
Sydney, July 23, 2020 AEST (ABN Newswire) - NSX Limited (
ASX:NSX), the Company, submits the following Activities Report and Appendix 4C Cashflow Statement for the period ended 30 June 2020.
Group Cash Flow Activities Report
- Cash at the end of the quarter was $4.6 million.
- During the quarter $2.9 million in new capital, net of costs, was raised by way of a share placement as approved by shareholders at a General Meeting held on 30 April 2020. The shares were placed at 9.1 cents per share raising gross funds of $3 million.
- The cash receipts in the June quarter were down $0.1 million or 34% on the March quarter and lower than the previous corresponding period (pcp) by 41%. This was due to fewer listing applications.
- Cash payments for operations in the June quarter were lower than the previous quarter by $0.09 million but higher expenditure than in the pcp by $0.15 million. Lower costs are due to a review of cost savings during the period.
Business Activities Report
During the quarter:
- As previously announced, the Company is pleased that a new director, Kelly Humphreys was appointed during the period to the Board of NSX Limited ("NSXL"). A submission has been made to ASIC for her to join the board of the National Stock Exchange of Australia.
- The activities of the Company's wholly owned subsidiary, National Stock Exchange of Australia("NSXA"), involved business as usual processing of new admission applications and market operations. During the period one new issuer joined the Official List.
- Directors being related parties of the Company, were paid remuneration in the amount of $117k during the June quarter. No other related party payments were made.
- The NSXA Trade Acceptance Service ("TAS") project conducted testing, operational preparedness reviews, and participant liaison during the period. TAS rule changes were approved by ASIC ahead ofthe target launch date of August 2020.
- The Company conducted further detailing of ClearPay DLT based DvP platform and liaising with Probanx Ltd with respect to software development.
- The Company has sent shareholders a Notice of Meeting to be held on 24 August 2020. The meeting has been requisitioned by members holding 5% or more of the issued capital of the Company with a resolution to appoint Mr Craig Mason as a director. A second requisition has been received with a resolution to appoint Mr Roderick Roberts to the Board of the Company. The Board will call a meeting for this second requisition as well. The General Meetings will be held by virtual meeting while COVID-19 restrictions are in place.
- COVID-19 impact on operations, during the period, has been minimal as staff have been able to successfully work remotely as and when required.
To view the report, please visit:
https://abnnewswire.net/lnk/O7X8ORR2
About NSX Limited
NSX Limited (ASX:NSX) via its wholly owned subsidiary National Stock Exchange of Australia Limited (NSXA) operates the Tier 1 Licensed stock exchange facility for the listing of equity securities, corporate debt and investment scheme units. The company is also involved in trading and settlement activities.
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