Quarterly Activities and Cash Flow Report
Sydney, Jan 21, 2022 AEST (ABN Newswire) - NSX Limited (
ASX:NSX) is pleased to provide its Activities Report and ASX Appendix 4C Cashflow Statement for the period ended 31 December 2021 (2Q22).
Group Cash Flow Activities Report
- Cash at the end of the quarter was $3.2 million, following a net cash outflow of $1.5 million as part of continuing operations.
- During the quarter $0.2 million in cash receipts were received from customers. The cash receipts in the December quarter were down $1.3 million on the September quarter and up $0.03 million previous corresponding period (pcp). The company receives most of its annual revenue (on a cash basis) in the September quarter.
- Cash payments for administration costs for the quarter are $0.8 million up $0.4 million on the previous quarter and up $0.1 million on the pcp.
- Cash payments for intellectual property for the period are $0.12 million up $0.09 million on the previous quarter. This is part of ongoing software upgrades.
- Cash payments to staff, corporate and the board for the period were $0.5 million in line with the previous quarter.
Quarterly Business Activities Report
NSX Limited Activities
- On 24 November, NSX held its AGM and shareholders can refer to the presenation slides that were released on the day. All resolutions were approved and the Performance Rights approved for the MD and Company Secretary have been alloted.
- Directors being related parties of the Company, for the purposes of this report, were paid remuneration in the amount of $102k during the December quarter. No other related party payments were made.
ClearPay Joint Venture Activities
- DvP platform software development continues; and
- DESS Digital Ledger Technology system continues to operate with no downtime.
KSA Commodities & Securities Exchange MOU Activities
- As announced on 29 September 2021, NSX Limited entered into a joint venture with Ajlan & Bros Holding Group ("Abilitii") in the Kingdom of Saudi Arabia ("KSA") to explore opportunites to create a second securities and the first commodities exchange.
- The Company has continued its work on the business plan for submission to KSA regulators, and if this is successful would move to a joint venture arrangement.
- Planned December visit by Managing Director to KSA took place in January 2022.
National Stock Exchange (NSXA) Activities
- 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 approved 2 new issuers with a third in-principle approval for admission was granted in January with a listing date to be agreed based on completion of outstanding requirements.
- The NSXA continues to position itself as the venture and emerging companies exchange, creating a clear differentiation from other Australian markets.
- Draft ETP and ETF Rules completed and NSXA is working toward a package of informal rule lodgements in consultation with ASIC that also include alignment of rules with recent changes to ASIC Market Integrity Rules and the work associated with the NSX Trading System upgrade.
- Draft rules being created for Special Purpose Acquisition Companies ("SPAC's"), after the conclusion of the consultation period.
*To view the Cashflow report, please visit:
https://abnnewswire.net/lnk/Z64Y14H3
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.
| ||
|
