DigitalX Ltd (DigitalX or the Company) wishes to update the market, in particular in response to the current COVID-19 pandemic.
Similar to many businesses, in order to protect our staff, partners and associates, the Company has restricted use of the Blockchain Centre in Perth in line with government health measures and has postponed, or moved to online delivery of all workshops and events. The Company’s business, however, continues to operate.
In addition to these safety measures, the Company has also made key financial decisions to manage its working capital during this uncertain time, including the deferral of all Director fees and the reduction in salaries for all senior executives. Each of the Company’s Non-Executive Directors has agreed to defer their Director fees for up to 12 months and to convert those fees into shares in the Company, subject to the receipt of all shareholder approvals, expected to be put to shareholders at the Company’s AGM in November 2020.
In addition, the Company’s Executive Director, Mr Leigh Travers has agreed to defer an equivalent amount on the same terms as the Non-Executive Directors.
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