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FINDI LIMITED — Capital/Financing Update 2007
Dec 5, 2007
64934_rns_2007-12-05_1c09bbfb-36ec-4caa-96d8-ce728b264370.pdf
Capital/Financing Update
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ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE: 6 DECEMBER 2007
TSI CONTINUES TO GROW ITS ELECTRONIC PAYMENTS BUSINESS
The Board of QED Occtech Limited (“QED” or “Company”) is pleased to announce that Transaction Solutions International group (“TSI”) continues to grow its electronic payments business, with the number of transactions per month increasing to 171,468 during the month of October 2007.
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----- Start of picture text ----- TSI200000 171468151850150000 119699 [129509]89993100000 74745 TSI55970[40268]50000 15063 [19318] [22685] [25118] [24273] [36074]0SEPT OCT NOV DEC JAN FEB MAR APR MAY JUNE JULYAUGUSTSEPTEMBEROCTOBER----- End of picture text -----
As shown from the above graph, the number of transactions (includes transactions from ATMs and bill payments only) has increased dramatically over the last 12 months.
TSI Completes Placement to Institutional Investors
TSI has recently completed a placement of 4.24m shares at £0.625 to UK based institutional shareholders, to raise £2.65m (before costs).
This placement is significant for TSI, as it:
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Is at a 25% premium to the last placement which was completed in 2006;
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Will allow the company to aggressively pursue the continued rollout of its electronic payments hardware;
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Provides the company with additional funding ahead of an IPO expected by TSI management to occur mid 2008; and
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Has provided a number of existing institutional investors with the ability to further increase their shareholding in the company ahead of an IPO.
ABN 98 057 335 672 LEVEL 9, BGC CENTRE, 28 THE ESPLANADE, PERTH WA 6000 TEL: (08) 9322 6322, FAX: (08) 9322 6558
About TSI
TSI is a business dedicated to the commercialisation and deployment of transaction payments hardware and solutions (including ATMs, Eftpos and bill payments) on the emerging market in India. TSI’s intended activities in the region include the deployment of hardware and operations that allow automated transactions to occur between banks, financial institutions and bank customers through the use of financial debit or credit cards, with TSI receiving a fee per transaction.
For further information contact:
Technical: Mr Gary Foster Managing Director – TSI Ph: 04 1717 0240 General: Mr Mark Pearce Company Secretary – QED Occtech Ph: 08 9322 6322
QED ASX Release – TSI Update
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