Quarterly Activities Report
Sydney, April 19, 2024 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 March 2024 (3Q24).
Group Cash Flow Activities Report
- Cash at the end of the quarter was $2.034 million (with $0.212 million restricted).
- During the quarter $77k in cash receipts were received from customers with the majority of year-to-date operating cash inflows received in the September quarter.
- The capital raise during the period resulted in a total of $1.776 million in cash receipts, before costs of capital raise of $71k. This amount includes the funds raised direct from the rights issue and the conversion into NSX shares of a convertible loan for cash received during the period of $500k from ISX Financial EU PLC. In addition, another convertible loan was issued for the amount of: $500k from ClearPay JV.
- Cash payments for administration costs for the quarter were $750k, which is an increase of $294k when compared with the December quarter ($456k). Administration expenses in the March quarter include payments made for:
o Payment to ASIC - $353k for ASIC Levy Fees for FY 2023;
o Payment to Dexus Property Group - $70k for Sydney office rent; and
o Payment to Iress Limited - $62k for Iress Order System+ (NSX Market Connectivity).
- Cash payments to staff and the Board (staff costs) for the period were $402k, which is an increase of $36k when compared with the December quarter ($366k). This is primarily due to a termination payment during the month of March.
- A year-to-date reclassification of $195k from administration and corporate costs to leased assets has been processed in sections 1.2(d) and 1.2(f) of the Appendix 4C to more closely align to the nature of payments made.
NSX Limited Corporate Activities
- After the recent capital raise, the Company has a shortfall of 129,559,416 shares or $3.2 million which can be placed to the market by 1 June 2024.
- Related party payments totaled $100k, which includes Directors' fees paid in the quarter of $67k and a payment to Authenticate Pty Ltd of $33k for IT Enterprise Support Services.
National Stock Exchange Activities
- The activities of the Company's wholly owned subsidiary, National Stock Exchange of Australia ("NSXA"), involved business as usual processing of new admission suitability for listing applications and market operations.
- NSXA are working through the listing process for two applications and engaging with additional prospects to reach listing application stage.
- NSXA continues to engage with ASIC concerning the changes to the rules for Market Integrity rules requirements.
KSA Mining and Minerals Exchange Activities
- Due to ongoing conditions in the Middle East and regulatory priorities this project persist. The Company has been advised that the Saudi Government is continuing its review of regulations and commercial terms for a new exchange, and we expect that this will be completed in the second half of 2024
ClearPay Joint Venture Activities
- The Company continues to review licensing options for the Joint Venture.
*To view the Cashflow Report, please visit:
https://abnnewswire.net/lnk/85ZGU825
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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