UK FCA 'non objection' received for merger of @FinancialIsx into a new holding company, ISX Technologies Plc, that is ready for listing on LSE or NASDAQ. Waiting on CBC & BoL to also approve, before calling a s/holders meeting. ISXPlc holdings will be proportional to ISXFEU. /1
@FinancialIsx ISXPlc will allow for operating units to be organised by jurisdiction, allowing efficient structure for tax and reporting purposes. Formal notification received recently from Cyprus tax authorities re application of 2.5% *total* tax on revenues associated with our patents /2
@FinancialIsx ISXPlc will also be seeking 'patent box' relief for its UK and other EEA operations, which average about 10% income tax (there is no such relief for inventions in Australia). Our patents aren't just about tax - we use these to capture niche areas, which underpin future growth /3
@FinancialIsx Unfortunately, statutory timing of AGM means we need to hold an AGM in late September, & a re-organisation EGM sometime after that, once we receive responses from the CBC & BoL. ISXPlc isn't standing still though, it has successfully been granted a crypto license in Poland and /4
@FinancialIsx it has made applications to other regulators in the EEA, US and Canada consistent with @FinancialIsx previously announced strategy. With the August summer slowdown almost behind us, we look forward to further customer onboardings, product enhancements & increasing revenues. /End
• • •
Missing some Tweet in this thread? You can try to
force a refresh
