Optix Australasia Pty Ltd, has paid $187,800 to comply with an infringement notice issued by ASIC.

The infringement notice was issued because ASIC has reasonable grounds to believe that Optix, a small proprietary company and ultimately controlled by South African listed company, KAP Limited, failed to lodge its financial reports with ASIC for the year end 30 June 2023 (FY23), within the period specified under the Corporations Act 2001.

Optix paid the infringement notice on 8 November 2024. Payment of an infringement notice is not an admission of guilt or liability.

Optix reported the alleged breach for FY23 and earlier years to ASIC. ASIC understands the historical non-compliance issues were identified after KAP took control of Optix. Accordingly, ASIC has had regard to these circumstances in its approach to taking enforcement action to address the alleged breaches.

The specific reasons for ASIC’s concerns are set out in the infringement notices which have been published on the Infringement notices register.