Kvanto Welcomes High Level Management and Technical Expertise to the Board of Directors

Former NETS IT Director Added to Support Current Growth

Kvanto Payment Services A/S, a wholly owned operating subsidiary of Canadian based Kvanto Payment Services Ltd. (“Kvanto”) are pleased to announce the appointment of Mr. Lars Studstrup to the Company’s Board of Directors. Mr. Studstrup was the former IT Director of NETS – Denmark, one of Europe’s largest financial payment processor, and brings significant experience to Kvanto as it enters into its current phase of growth. Under Studstrup’s leadership, seven Nordic IT departments have seen a yearly OPEX budget of over 500 million DKK.

Studstrup has been CIO and member of Group Management for 20 years at Royal Greenland, DISA (former Dansk Industri Syndikat A/S), and a company within the MAERSK group. As a specialist in operational efficiency and maturity, enterprise infrastructure, compliance, project and programme management, Studstrup has worked in over 20 countries throughout Europe, Asia and North America. He holds degrees in computer science and management information systems from Aarhus University and St. Cloud State University.

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“It is truly a pleasure to have Mr. Studstrup accept appointment to our Board,” CEO of Kvanto, Jesper Skorstengaard, said. “Mr. Studstrup brings vast experience from the financial sector, which will be a definite asset to assist Kvanto achieve our ambitious goals,” he added.

Studstrup has been an advisor for Kvanto in the past and has participated in negotiations with Mobileware Technology Inc. regarding its acquisition and the implementation of the Kvanto gateway to support Kvanto’s ardent growth in India.

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“I’ve been involved and have followed Kvanto for some years now and it’s good to finally officialise it,” said Studstrup. “Kvanto has been undergoing an amazing development, and I agree with their vision and strategy. I really look forward to working with them and offering my experience to work towards it.”

Mr. Studstrup replaces Mr. Brian Gjerstrup who recently stepped down from his board responsibilities. The Company would like to wish the best to Mr. Gjerstrup and thank him for his contributions and the time he spent with the company.

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