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Mint Wireless appoints new Chairman and CEO

Announcement posted by Mint Wireless 15 Apr 2014

15 April 2014: Mint Wireless Limited (ASX:MNW) (“Mint Wireless”) today announced the appointment of Alex Teoh as its new Executive Chairman and Robin Khuda as its new Chief Executive Officer from 1 May 2014.

Teoh assumes this position from Terry Cuthbertson, the company’s existing Chairman who will be stepping down to remain as the company’s Independent Non-Executive Director.

Alex Teoh, Co-Founder and Chief Executive Officer at Mint Wireless said, “Terry has provided great value to the Board over the past six years with his exceptional commercial and financial acumen. We are grateful for the significant contribution Terry has made to Mint Wireless in a period where we were developing our platform to its commercialisation today. We will continue to work closely with Terry and draw on his experience which continues to be invaluable for our planned expansion.”

The appointment of Khuda as the company’s new Chief Executive Officer supports Mint Wireless’ ambition to grow and expand as a global mobile payments and transactions processing company. Prior to joining Mint Wireless, Khuda held senior leadership roles with various successful and high growth IT and telecommunications companies including ASX-listed NEXTDC Limited (ASX: NXT) and PIPE Networks Limited.

He was a founding member of NEXTDC’s board and senior executive team and played an instrumental role in growing the company from a start-up to a successful ASX-300 company. Khuda played a key role in PIPE Networks Limited’s $373 million merger with TPG Telecom Limited (ASX: TPM) in early 2010. He has also held senior commercial and financial positions with Fujitsu Australia and New Zealand, SingTel Optus and Cheung Kong Communciations Group. Khunda has undertaken senior executive programs in the United States with the Harvard Business School and the Wharton School, specialising in Corporate Strategy and Mergers & Acquisitions.

Teoh said, “Mint Wireless is on an aggressive expansion path and having talented senior executives who are respected and recognised in the industry will lead us closer to our ambition to becoming a global leader in mobile payments.”

“We are delighted to welcome Robin to Mint Wireless and look forward to working closely together to accelerate the company’s growth. He brings a solid track record in managing high-growth companies, deep connections with the local and international business community and strong relationships within the IT and telecommunications industry. Robin’s experience will be invaluable to Mint Wireless as we look towards strengthening our market leadership.”

Robin Khubda, incoming Chief Executive Officer at Mint Wireless said, “I am excited to join Mint Wireless and to capitalise on the immense opportunities available to the company not only within Australia and New Zealand, but globally as well. Mint Wireless’ innovative and market leading product roadmap, which is further supported by its first mover advantage and strategic partnerships, has laid out a solid platform for an exciting next phase of growth.”

According to the Annapolis Consulting Group, the number of companies using mPOS devices globally will grow by 225 percent from eight million businesses in 2013 to 18 million by 2017. Mint Wireless estimates the estimated value of mPOS transactions in Australia will reach US$7 billion in 2014 with the potential to grow to US$20 billion in 2016.

ENDS


About Mint Wireless Limited

Mint Wireless Limited is a global mobile payments and transactions processing company listed on the Australian Securities Exchange (ASX: MNW). Mint Wireless has a mobile payments technology platform that enables corporate enterprises to accept credit and debit card payments on various mobile phones, tablets and mobile devices. The Company has invested and built bank grade payments technology and infrastructure that has allowed it to become a multi-channel and multi-national payments organisation. Mint Wireless is headquartered in Sydney, Australia with offices and operations in London and Singapore.


For further information, please contact:

Gabriel Wong / Luisa Regattieri

Espresso Communications for Mint Wireless

Phone: +61 2 8016 2200

Email: gabriel@espressocomms.com.au / luisa@espressocomms.com.au

Or visit our corporate website on www.mintwireless.com