ASX Places Securities of DigitalX in Trading Halt

DigitalX Ltd, an innovative software solutions company focused on the global digital payments industry developing fintech products and services in mobile bill payments and remittance space, recently announced that its securities will be placed in trading halt at the request of the company.

The company sought that an immediate trading halt be granted by ASX with respect to its ordinary shares, effective today, 20 November 2020.

DigitalX explains that the trading halt is requested pending an announcement in relation to the launch of the Company’s first Regtech application for financial exchange participants (Announcement).

The Company anticipates that the trading halt will remain in place until the earlier of such time as it makes the Announcement and the commencement of trading on Tuesday 24 November 2020 and will cease upon it making the Announcement.

Following a disappointing first half loss this year, DigitalX underwent a strategic review that led to significant cost reductions. Post the strategic review, DigitalX focused on advancing the digital assets funds management division and blockchain technology development. Operational expenditure was reduced in FY20 by 41% from $4.9 million to $2.9 million.