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FINDI LIMITED Capital/Financing Update 2013

Aug 12, 2013

64934_rns_2013-08-12_0c6275b2-84cb-44af-b359-aa67141f770b.pdf

Capital/Financing Update

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Transaction Solutions International

Limited

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TSI COMPLETES $22 MILLION INVESTMENT COMMITMENT

FOR INDIAN ATM BUSINESS

Highlights

  • Previous shareholder approval granted

  • Commercial milestone met

  • All conditions precedent completed and accepted

  • Tranche 1 funds transferred and received

  • Funds ready to be deployed for ATM growth

The Directors of Transaction Solutions International Ltd (“TSN”) are pleased to announce that TSN has successfully completed the transaction in connection with its previously 100% held subsidiary, TSI India.

Background

Key points of the transaction were announced to the market on 3[rd] December 2012 and the 15[th] April 2013. On the 21[st] May 2013, TSN shareholders unanimously voted in favour to proceed with an offer to secure the A$22 million investment from a leading Indian focused private equity group.

Status

TSN has met all of its obligations under the agreement including, but not limited to:

  • receiving shareholder approval

  • meeting the commercial milestone of securing a 500 ATM contract

  • providing all due diligence information and meeting conditions precedent to the agreement

  • settlement and receipt of Tranche 1 funds by TSI India

Funds are now in hand to target significant growth of the TSI India business and both the Australian and Indian management teams are committed to expanding upon the platform already created. The cash available to TSI India places the company in a very strong position for continued growth.

Immediate Benefits

Mr. Gary Foster, Managing Director of TSN advised that, “The combination of available cash, our almost debt free status, and having an Indian domiciled investment group as a shareholder, is expected to bring powerful and immediate benefits to the business. To date, the team has worked exceptionally hard to build a strong platform in India, and this recent transaction positions us to be a major force in the sector.”

Moving Forward

Concurrent to growing the existing TSI India business with the new injection of fresh capital, TSN is keen to immediately pursue other opportunities to benefit shareholder value.

Transaction Solutions International Limited ABN 98 057 335 672 41-47 Colin Street, West Perth, WA 6005 Tel: +61 8 6500 0226 Fax: +61 8 9226 2237

For further enquiries please contact:

Gary Foster Managing Director [email protected] 0417170240

About TSI

Founded in 2005, TSI’s business is a rapidly growing bank ATM deployment and E-transaction financial services business based in India. Operational in India since 2006 the company now has in excess of 1100 ATMs fully operational and generating revenue. It has further contracts to allow deployment for up to a further 700 ATMs.

The company’s business model is to build recurring revenue through the deployment of ATMs as well as service the financial payments sector through automation of bill payment processes, in a market that is migrating from paper based to electronic transactions.

TSI owns, manages and operates its financial hardware and systems, in return for a fee per transaction. This recurring revenue model assists TSI in producing a business model that is highly scalable.

TSI has agreements with a large number of national companies including major banks, utilities and corporates. It is these corporations (not consumers) who form TSI’s customer base, and from who TSI receives its revenues.

Supported by the strong infrastructure and business platform built over the last 6 years, and a leading market reputation the business is now scalable by the installation of new ATM’s and building on the recently introduced bill payments capability. Barriers to entry in the sector are high with regulatory and banking approvals required. TSI has successfully overcome those barriers, as reflected in its growth profile and the increasing demand for its ATM outsourced business.

Transaction Solutions International Limited ABN 98 057 335 672 41-47 Colin Street, West Perth, WA 6005 Tel: +61 8 6500 0226 Fax: +61 8 9226 2237