iSignthis (ASX: ISX) announced an update in regards to getting ISX shares trading again, after not trading on the ASX for nearly 2 years.
The global tech company that optimises online payments said it is prepared to split its European business ISX Financial EU into a separate entity, in order to be listed on a securities exchange in Europe, which would enable shareholders to trade their shares.
The proposed demerger would be held via a reduction in capital of iSignthis, which would need to be approved by ISX shareholders at a general meeting, most likely held next month.
Post demerger, all current shareholders would retain their current economic interest in both entities in unchanged proportions, with these holdings being through two separate entities. No cash is being raised by ISX Financial EU, as its operations are profitable.
This restructure is expected to have benefits for shareholders and for the companies.
Shares in isignthis (ASX:ISX) are not trading.
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