6 November 2017

Proposed share sale by substantial shareholder

(Sydney) Tyro has been advised by Jost Stollmann that Mr Stollmann has entered into arrangements to sell 24 million of the 64,447,496 million Tyro ordinary shares held by Mr Stollmann (Proposed Sale). Tyro understands that the Proposed Sale will complete between 14 November 2017 and 12 December 2017 and will occur via the following transactions:

  • 8 million ordinary shares to be acquired by a company associated with Michael Cannon-Brookes (or nominee) for $1.045 per ordinary share;
  • 16 million ordinary shares to be made available to Tyro’s employees and officers (or close associates) to acquire for $0.845 per ordinary share, with 8 million of those shares assured to a company associated with Michael Cannon-Brookes (or nominee) (Employee Invitation); and
  • any shares not acquired as part of the Employee Invitation will be acquired by a company associated with Michael Cannon-Brookes (or nominee) for $0.845 per ordinary share.

The Proposed Sale follows the recent resignation of Mr Stollmann from Tyro’s board through rotation. Following completion of the Proposed Sale, Mr Stollmann will remain one of Tyro’s largest shareholders, holding approximately 9.4% of Tyro’s ordinary shares.

Yours sincerely,

Justin Mitchell
Company Secretary

 

For more information contact:

Media enquiries: Matt Johnston – 0432 535 893

Investor enquiries: Robbie Cooke – contact Monique Rennell on 02 8224 8721