Referring to the ASX’s market announcement on 2 October 2019, advising that in consultation with ASIC, ASX had determined that it was appropriate to suspend the trading of ISX shares under Listing Rules 17.3.
ASX also referred to ISX’s announcement dated 5 December 2019 related to the action against ASX related to Suspension, ISX’s letter to shareholders on 22 January 2020, Communications received by ASX from ISX shareholders pertaining to the suspension along with the recent media commentary and has provided the below update.
Since ISX’s shares got suspended, ASX has issued four formal query letters to ISX under Listing Rule 18.7 to request for information, documents and explanations to allow ASX to be satisfied that ISX is complying with the Listing Rules.
After reviewing the responses from ISX, ASX provided ISX a draft of ASX’s proposed findings and proposed actions.
On 24 January 2020, ISX responded to the draft finding of ASX. As the matter has reached the court and the first hearing is on 7 February 2020, ASX has agreed not to publish any findings earlier to that hearing. Further, ASX would not be responding individually to any further communications pertaining to the Suspension.