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FINDI LIMITED — Capital/Financing Update 2010
Sep 20, 2010
64934_rns_2010-09-20_498bd2ea-42e8-4c6b-9349-dad87c1e4f1e.pdf
Capital/Financing Update
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ASX Release
21 September 2010
TSI EXPANDS ITS ATM PRESENCE IN INDIA
Highlights
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Planned rollout of an additional 140 machines commenced
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15.7% increase in quarterly transaction volumes for second quarter 2010
The Directors of QED Occtech Limited (ASX:QED) are pleased to advise that the planned rollout of its ATM expansion has commenced.
As announced on the 14 September 2010 (“QED charts path to success in India’s growth ATM market”), QED’s Indian operations were planning expansion of 140 ATMs to add to its existing 350 ATM installation base.
Since last week’s announcement, TSI India has increased its base of live installed machines from 350 to 370 ATMs, and has secured a further 25 sites where machines are expected to be operational within the next 4 ‐ 6 weeks.
“As more of our ATMs go live, a greater uplift in transaction volumes will be realised, further increasing revenues” said TSI Managing Director, Gary Foster.
In comparing Q1 2010 transaction growth with Q2 2010, TSI’s operations saw a 15.7% increase in transactions for the quarter, with the business recording over 9,000,000 transactions for the quarter.
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ABN 98 057 335 672 6 ORD STREET, WEST PERTH, WA 6000 TEL: (08) 9320 5108, FAX: (08) 9321 8448
“Our confidence in delivering transaction growth is very high due to last quarter’s growth, but certainly a key driver in our confidence is the continuation of meaningful discussions with banks and institutions in India for our services, that coupled with the continued growth of the Indian economy which announced an annualised GDP increase for the June quarter of 8.8% ” stated Mr Foster.
Enquiries:
Gary Foster Paul Boyatzis Managing Director Chairman Tel: + 61 8 9320 5108 Tel: + 61 8 9320 5108
ABN 98 057 335 672 6 ORD STREET, WEST PERTH, WA 6000 TEL: (08) 9320 5108, FAX: (08) 9321 8448