Quarterly Activities Report
Group Cash Flow Activities Report
- Cash at the end of the quarter was $4.6 million, following a net cash inflow of $1.2 million as part of continuing operations.
- During the quarter $1.4 million in cash receipts were received from customers mainly due to the payment of annual fees. The cash receipts in the September quarter were up $1.2 million on the June quarter and in line with the previous corresponding period (pcp).
- Cash payments for administration costs for the period are $0.4 million down $0.2 million on the previous quarter.
- Cash payments to staff, corporate and the board for the period were $0.5 million in line with the previous quarter.
- In August 2021 NSX completed the remaining issue of shares under the second tranche of the previously completed capital raising in June 2021 to related parties of 7,450,000 shares at an issue price of 14 cents raising $0.97 million (net of costs).
Quarterly Business Activities Report
NSX Limited Activities
- On 13 October the Company released an investor presentation which was part of a webinar with other CEOs to the investment community.
- On 13 September, the Company announced that it had been selected, with others, to move to the next stage of the Carbon Exchange tender process. The Company will continue to engage in this process as documents become available.
- On 13 August 2021, the Company completed the final tranche of the previously annouced capital raise which provided an addition $1m in working capital.
- Directors being related parties of the Company, for the purposes of this report, were paid remuneration in the amount of $124k during the September quarter. No other related party payments were made.
ClearPay Joint Venture Activities
- Preliminary engagement with regulators has commenced regarding licensing requirements;
- 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 to explore opportunites to create a second securities exchange.
- The second exchange will seek to obtain a markets licence to trade a variety of financial products with a focus on mining issuers and metals (commodities).
- The Company has continued work on the business plan and if this is successful would move to a joint venture arrangement.
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.
- Has 3 new nominated adviser participants approved and up to 4 new issuers to be potentially approved before end of next quarter.
- The NSXA continues to position itself as the venture and emerging companies exchange, creating a clear differentiation from other Australian markets. The NSXA:
o Has previously advised that it updated admissions guidance on Direct Entry, Compliance and Capital Raising listings, and has since concluded a fast track entry of an entity from the ASX to an NSX listing prior quarter, with further fast track, compliance, direct entry and IPO's enquiries having been received this quarter; and
o Has commenced regulatory engagement to extend its product suite to include Exchange Traded Products (ETP's)
- Draft ETP and ETF Rules completed
- Rules aim to incorporate ASIC CP 343: Crypto-assets as underlying assets for ETPs and other investment products - ASIC position not finalised
- NSXA to consult ASIC, industry and informally lodge Rules (Oct-Nov 2021)
- Rules positioned for possible DvP settlement through ClearPay
o Has concluded a consultation on Special Purpose Acquisition Companies (SPAC's), including feedback from Capital Advisers, Legal Firms, Brokers, SAFAA and Shareholder Association.
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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.