- DigitalX has announced significant changes to its board following the resignation of directors and the re-appointment of a previous chair
- Negotiations have resulted in a deed of termination and settlement with two of DigitalX’s joint ventures, First Growth Funds and Coincast Media
- DigitalX has restructured its remaining active business units to represent the divisions which will be pursued moving forward, Blockchain Consulting and Development and Funds Management
DigitalX has announced significant changes to its board following the resignation of directors and the re-appointment of a previous chair.
Shareholders were informed of the changes in a company update released today, detailing activities undertaken since the start of the 2020 financial year.
Toby Hicks has resumed his tenancy as Board Chair and, as a result of changes in personnel, DigitalX has reassessed its corporate structures, leading to major changes within its current partnerships.
Following negotiations, DigitalX has decided to seek deeds of termination with two of its joint ventures, First Growth Funds and Coincast Media.
Both deeds of termination were entered on September 4, and DigitalX has requested an orderly wind-up. Discussions will continue amongst shareholders to minimise the impact upon existing clients.
In addition to the changes, DigitalX has restructured its remaining active business units to represent the divisions which will be pursued moving forward.
DigitalX is prioritising focus on its Blockchain Consulting and Development Division and aims to use its internal knowledge of blockchain systems to establish Australian business prospects.
Headed up by Executive Director Leigh Travers, the Division’s main purpose is to develop DigitalX’s reputation in the Perth technology space.
Additionally, the company intends to expand the scope and focus of its Fund Management Division over the next 12 months.
The Division aims to identify investment and equity opportunities by promoting DigitalX’s knowledge of blockchain and its unique digital assets.
DigitalX is a blockchain-based software solutions company with offices in Perth, Sydney and New York. It offers hi-tech focussed consultation and development services, with an emphasis on emerging technologies such as Blockchain.
With roots in cryptocurrency and banking, blockchain is a record-keeping technology that works by storing digital information (known as blocks) in a public database (known as chains).
DigitalX’s Annual General Meeting is expected to be held at the company’s Perth offices in November 2019, in line with proceedings in previous years. Shareholders are encouraged to attend to meet the board and discuss changes.