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AGS appoints Amit Majumdar as Chief Financial Officer

INDIA, February 24, 2015AGS Transact Technologies Limited (AGS TTL) today announced a key appointment at the top level, with Amit Majumdar coming on board as the Chief Financial Officer. As part of his new portfolio, Amit will be responsible forproviding functional and strategic direction to the finance, accounting, analytics, legal, compliance and information technology functions of the company. He will also be responsible for the creation and execution of business strategies that helps achieve the organization’s business and financial goals.

Amit is a senior and well known business leader with over 17 years of experience across leading multinational and Indian organizations. In his last role, he was the Executive Director and Chief Strategy Officer ofAngel Broking. In this role, he was responsible for leading Angel Broking towards its multiple goals, which included Entity, Business, and People, process, communications and Stakeholder management. Prior to Angel Broking, he has worked in firms such asErnst & Young, Chohung Bank (a Korean bank), Rabo India Finance and Ambit Corporate Finance to name a few.

Commenting on his appointment, Mr. Ravi B Goyal, Chairman and Managing Director, AGS Transact Technologies Ltd, said, “Amit’s vast experience, in-depth market understanding and his ability to manage scale makes him an asset to AGS Transact Technologies. As our business continues to grow both in India and globally, it’s criticalfor our progress to be guided by sound financial principals and insight and help us stay nimble-footed to take advantage of business opportunites. We are confident that Amit will provide these benefits.”

On his appointment at AGS Transact Technologies Ltd, Mr. Amit Majumdarsaid, “AGS is at the cusp of an interesting growth story in the payments technology space. Given the country’s focus on technology as the backbone for financial inclusion in future, I firmly believe that AGS, by virtue of its dominant market share, is well poised to take advantage of this growth story. The company’s vision to provide an end-to-end solution to its customers in the payments ecosystem, will always enable it to constantly growits market shareand alsoachieve significant operational synergies. I am very excited to be a part of this growth story.”

Amit has a Bachelor’s Degree in Commerce from Mumbai University and is a Chartered Accountant from Institute of Chartered Accountants of India.

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