Updated Statement of Claim ISX vs ASX
Melbourne, Aug 31, 2021 AEST (ABN Newswire) - iSignthis Limited (
ASX:ISX) (TA8:FRA) has amended its Statement of Claim in its Federal Court Proceedings against ASX Limited (ASX:ASX) (copy attached*). The amendments follow a review of documents made available by ASX through the litigation discovery process.
Consequently, in addition to its existing claims, ISX now also formally contends that:
- ASX Limited had no justifiable basis to suspend the shares of ISX from quotation;
- ASX Limited's decision to suspend was made without reference to various senior officers and governance forums of ASX, and without any internal documentation which openly and transparently recorded the reasons for the decision;
- ASX Limited did not treat ISX in a like manner to 13 other listed companies that were (and in some cases still are) the subject of suspicion and/or enquiries and/or a regulatory investigation yet remained trading on the exchange; and
- ASX Limited made false representations in its announcements on 2 October 2019 and 11 November 2019 about the suspension, and/or omitted matters which rendered the announcements misleading or deceptive, in breach of the Corporations Act 2001 (Cth).
Further, ISX has also included additional facts to support its contention that ASX Limited's decision to suspend was an unreasonable exercise of power and made for an improper purpose.
To view the Notice of Filing and Hearing, please visit:
https://abnnewswire.net/lnk/06IN3924
About iSignthis Ltd
iSignthis Ltd (ASX:ISX) (FRA:TA8) 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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