Mumbai, India – December 05, 2017
India’s largest* cash management company CMS Info Systems Limited, announced that Mr. Krzysztof Wieslaw Jamroz, an independent Director of CMS since March 2016, was elevated to Chairman of the Board as of August 2017.
Mr. Jamroz presently serves in the capacity of the Chief Executive Officer of STG Holdings LLC and is also the Executive Chairman of St. George Logistics, U.S.A. He has more than 15 years of experience across Cash Management, Investment Banking and Logistics sectors. He was till recently the President and Chief Operating Officer of the Cash Services business of GardaWorld Corporation. He has also served as the head of JP Morgan’s corporate finance practice in Canada. Mr. Jamroz holds a bachelor’s degree in Business Studies from Birmingham City University and a master’s degree in Business Administration from Schulich School of Business, York University, Canada.
Announcing these appointments to the board, Mr. Rajiv Kaul, Executive Vice Chairman, CEO & Whole Time Director, CMS Info Systems Limited, said,“Mr. Jamroz’s counsel over the last 18 months has been invaluable to our team as it has helped us identify new growth opportunities to serve banks in India. His elevation to Chairman of the board reflects our commitment to keeping our senior management a diverse group of highly experienced and qualified professionals.”
Commenting on the appointment, Mr. Jamroz, said: “My experience as an independent member of the board of CMS so far has been exciting since the India cash management market has the potential to grow along-side its banking and organized retail sectors. I look forward to continuing my work with the CMS team, which has built the company on the belief that trust and reliability are of utmost importance to its customers.”
CMS Info Systems Limited (“CMS”) is India’s largest cash management company based on number of ATM points and number of retail pick-up points as of March 31, 2017.I CMS is also the fifth largest ATM cash management company worldwide (based on number of ATM points as of December 31, 2016). I For Fiscal Year 2017, CMS’s total currency throughput, or the total value of the currency passing through all of their ATM and retail cash management businesses, amounted to Rs 7,290 billion.
CMS provide a wide range of services across each stage of the cash cycle in India, from when the RBI initially deposits cash in branches of selected banks, called currency chests, that are authorised by the RBI to hold and distribute rupee notes and coins for circulation to banks, to when cash is deposited back in banks after going through the various stages of the cash cycle.
* Based on number of ATM points and number of retail pick-up points as of March 31, 2017. Source: Frost & Sullivan “Assessment of Cash Management Services Market in India”, September 2017.
CMS Info Systems Limited (the “Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares (the “Equity Shares”) and has filed the draft red herring prospectus (the “DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the websites of SEBI, the BSE Limited and the National Stock Exchange of India Limited at www.sebi.gov.in, www.bseindia.com and www.nseindia.com, respectively, and on the websites of Kotak Mahindra Capital Company Limited, Axis Capital Limited and UBS Securities India Private Limited at www.investmentbank.kotak.com, www.axiscapital.co.in and www.ubs.com/indianoffers, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details they should refer to the Red Herring Prospectus, including the section titled “Risk Factors” therein, when available. Potential investors should not rely on the DRHP filed with the SEBI for making any investment decision.
The information contained in this document has been prepared for publication in India and is not for release, publication or distribution, directly or indirectly, in whole or in part, in, into or from the United States (including its territories and possessions, any of its states and the District of Columbia), Australia, Canada or Japan or any other jurisdiction where to do so might constitute a violation of the relevant laws or regulations of such jurisdiction. These materials do not contain, constitute or form part of an offer to sell or the solicitation of an offer to purchase securities in the United States or elsewhere. The Company’s Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration under the Securities Act except pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. There will not be any public offering of the Equity Shares in the United States or in any other jurisdiction outside of India.