Demerger Complete - EU/UK/US Subsidiaries
Melbourne, Oct 19, 2021 AEST (ABN Newswire) - iSignthis Ltd (
ASX:ISX) (TA8:FRA) is pleased to announce that the demerger of ISX Financial EU Plc ("ISXFEU") is complete.
The demerger follows the 98.13% shareholder vote in favour, which excluded major shareholders Select All Enterprise Ltd and Red 5 Solutions Ltd.
Shareholders of the Company as at 5pm AEST 18th October 2021 are now shareholders in ISXFEU, based upon 1 share in ISXFEU for every 10 shares held in the Company.
ISXFEU has engaged Automic Group to manage registry services in Australia, noting that circa 10,000 of the Company and ISXFEU's 10,800 joint shareholders are based in Australia.
Holding statements are in the process of being despatched, and will reach ISXFEU shareholders over the next few days or so. Once statements have been received, shareholders are encouraged to ensure that their electronic details are up to date with Automic by accessing https://investor.automic.com.au/#/home
Chairman of iSignthis Ltd, Mr Tim Hart said "I am delighted to see the demerger of ISX Financial EU Plc now complete. ISXFEU is now a legally separate entity, owned by a common set of predominantly Australian shareholders. The demerger will allow ISXFEU to focus on Europe and North America."
"The iSignthis board has responded to calls from shareholders to position the European business for a listing on a Northern hemisphere securities exchange as soon as possible. This follows the July 2020 shareholder meeting where 96% of holders voted to list the Company or its subsidiaries elsewhere, and the meeting last week with 98% of shareholders in favour. A new era of business growth now lies ahead."
Shareholders are encouraged to access the www.isx.financial website for ongoing updates.
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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