NSX Limited (
Group Cash Flow Activities Report
Cash at the end of the quarter was $1.2 million, following a net cash outflow of $0.75 million as part of continuing operations.
- During the quarter $0.09 million in cash receipts were received from customers. The cash receipts in the June quarter were down $0.2 million on the previous quarter, and down $0.1 million on the 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 $0.3 million down $0.4 million on March quarter. ASIC Industry Levy for $0.3 million paid in March 2022.
- Cash payments for intellectual property related to technology upgrades for $0.3 million were reclassified to payments for administration costs in the YTD section.
- Cash payments to staff, corporate and the board for the period were $0.4 million in line with the previous quarter.
- Directors being related parties of the Company, for the purposes of this report, were paid remuneration in the amount of $72k during the June quarter. No other related party payments were made.
- On 21 June and 7 July 2022, two directors bought NSX shares in an on-market purchase of 1,137,500 shares.
- On 1 July 2022 NSX converted 181,434 employee Performance Rights to Ordinary Shares to various staff.
- The Board is aware of the cash position as disclosed in the Appendix 4C, section 8 and in the previous quarterly report. The Company continues to have several options which will increase the cash available to the Company.. These are:
o The Company has invoiced $1.2 million in annual fees to Issuers, brokers and nominated advisers and is in the process of receiving these fees.
o As the proposed JV with Abiliti progresses it is expected to raise capital to support the operations and licence capital requirements during 2022/2023 financial year. NSX's participation and support will also generate consulting fees for the business; and
o The Company retains its ability to place up to 25% of the issued capital to interested parties and/or conduct a rights issue.
o The Company has written support from its major shareholder that confirms participation in any capital raising activity, including a rights issue.
KSA Commodities & Securities Exchange MOU Activities
- As announced on 29 September 2021, NSX Limited entered into a MOU with Ajlan & Bros Holding Group ("Abilitii") in the Kingdom of Saudi Arabia ("KSA") to explore opportunities 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 see it move to a joint venture arrangement.
ClearPay Joint Venture Activities
- DvP platform software development continues; and
- DESS Digital Ledger Technology system continues to operate with no downtime.
National Stock Exchange (NSXA) Activities
- The activities of the Company's wholly owned subsidiary, NSXA, involved business as usual processing of new admission applications and market operations.
- On 14 July 2022 1 new issuer commenced quotation with additional entities currently progressing through the admissions process.
- The NSXA continues to position itself as the venture and emerging companies exchange, creating a clear differentiation from other Australian markets.
- Draft Exchange Traded Product Rules were completed and along with Draft changes to rules based on ASIC Market Integrity Rules a consultation paper was circulated for comment. Once the consultation feedback has been incorporated into the rules NSXA will proceed to formal lodgment of the rules with ASIC.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/2QG01B10
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.
Contact
NSX LimitedT: +61-2-8378-6400
WWW: www.nsx.com.au
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