Notification of Substantial Shareholding
Melbourne, Jan 19, 2016 AEST (ABN Newswire) - Novatti Group Limited (
ASX:NOV) gives notice that Mr. Kenneth Lai has become a substantial shareholder in Novatti via subscribing in the Novatti IPO. Mr. Lai's interests total 10,335,000 ordinary shares, representing 11.76% of the voting power in Novatti.
Mr. Lai is the managing director and wholly owner of Prestige Team Limited, an investment company which, together with its subsidiaries, holds an investment portfolio in Hong Kong and Southeast Asia. Prestige Team Limited has interests in real estate, payment processing, digital marketing and information technology support services. Mr. Lai has funded and invested in various Silicon Valley technology funds focusing on business opportunities within Asia. He also co-founded Legend World Development Technology Limited, a limited liability company incorporated in Hong Kong, which provides information technology solutions and integrated marketing solutions to business setups, and in which he is a shareholder and advisor.
Mr. Lai obtained a Bachelor of Science (BSc) degree majoring in Computer Science from the University of Auckland, New Zealand.
Mr. Lai gained diversified investment experience and business acumen through his business pursuits. In conjunction with an experienced team in the Asian region, Mr. Lai plans to assist the Novatti business expansion within this region through his experience and business network.
About Novatti Group Ltd
Novatti, an Australian-based company, is an award-winning global software technology and payment services provider, with an emphasis on the development and delivery of high volume and mission critical systems. Novatti's reliable and efficient software solutions include Consumer Digital Wallet, Electronic Top-Up, Mobile Money, Bill Payments, Remittance Services, Voucher Management Systems (PINs & PINless) and Electronic Voucher Distribution Systems. Novatti's payment service solutions include TransferBridge, a worldwide remittance network, and Flexepin, an open loop cash voucher.
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