Notice to shareholders
6 November 2017
Proposed share sale by substantial shareholder
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.
24 October 2017
Director re-election and resignation
The results of the 2017 Annual General Meeting of Tyro Payments Limited are set out below. All resolutions put to meeting were decided by way of a show of hands. Resolution 1, Retirement by Rotation and Re-Election of Director – Kerry Roxburgh, was unanimously carried by shareholders.
As notified to shareholders in Tyro’s notice of Annual General Meeting on 25 September 2017, Non-Executive Director and former long-serving CEO, Jost Stollmann, retired by rotation at the Annual General Meeting.
13 June 2017
Chief Executive Officer Gerd Schenkel’s Resignation
The Chief Executive Officer of Tyro Payments Limited, Mr Gerd Schenkel, has informed the Board that he wishes to resign from his position in order to focus on other business opportunities and spend more time with family.
Mr Schenkel joined Tyro as Chief Executive Officer in October 2016, and during his tenure at Tyro has elevated its reputation as a strong service provider for its fast growing number of Australian merchants. During this time Mr Schenkel has been a strong and articulate advocate for Australian SMEs.
Mr Schenkel’s departure comes at a time when Tyro is embarking on a significant growth program developed over the past 12 months, including new product design, improved operating systems and distribution.
Mr Schenkel said: “My departure will allow a new CEO to lead the implementation of Tyro’s significant growth program. I felt privileged to lead the organisation and I thank the Board for the opportunity.”
Tyro Chairman, Mr Kerry Roxburgh said: “We thank Mr Schenkel for his positive contribution, and we all wish him every success in future.”
Appointment of Mr Rob Ferguson as Acting Managing Director
Tyro announces the appointment of Mr Robert Ferguson as Acting Managing Director, commencing immediately. Mr Ferguson has been Chairman of and then a Non-Executive Director of Tyro for more than a decade.
Chairman Kerry Roxburgh said:
“On behalf of the Tyro Board, I’m pleased to welcome Rob as Acting Managing Director, a role he will occupy until a replacement Chief Executive Officer is appointed. Rob, who is a long term investor in and a director of Tyro, has a profound understanding of our business, of its strategy and of its potential.”
“Rob’s extensive executive experience in banking, principally as Managing Director of Bankers Trust Australia from 1985 to 1999 makes him a natural choice for this role. I have every confidence Rob Ferguson will continue to deliver on the Tyro strategy. Terms and conditions of his appointment will be announced, when approved by the Board. On behalf of the Board and of all Tyro investors, I thank Rob for accepting this appointment”, Kerry Roxburgh said.
Mr Ferguson said: “In my role as Acting Managing Director I look forward to guiding Tyro whilst we search for another Chief Executive, whom we believe is ideally placed to lead Tyro through the next exciting stage of its development.”
Jost Stollmann will become a Non-Executive Director of Tyro.
28 February 2017
Interim Financial Report and Shareholder Update – half year ended 31 December 2016
The company announced its unaudited results for the half year ended 31 December 2016 on Tuesday, 28 February 2017.
The company’s interim financial report, for the half year ended 31 December 2016 (Half Year Report) has today been lodged with the Australian Securities & Investments Commission. A copy of the Half Year Report, together with a shareholder update, can be downloaded from Tyro’s website (on the ‘Investors’ page in the Interim Financial Reports and Shareholder Updates section).
19 October 2016
Appointment of CEO
Gerd Schenkel joins Jost Stollmann as Tyro’s new CEO to build the nextGen Bank. The Board has appointed Gerd Schenkel to the position of CEO, effective from 24 October 2016. Gerd has more than 17 years’ experience in Australian banking and technology related businesses. Jost will remain a full-time Executive Director of Tyro, supporting Gerd Schenkel in his role as CEO and raising the profile of Tyro in Australia.
1 March 2016
Completion of Capital Raising
The company’s $100 million capital raising, first announced on 30 November 2015 (Capital Raising) has completed on 1 March 2016, with a final subscription for ordinary shares being made by Tiger Global Management, in accordance with the original subscription agreement between the company and Tiger Global Management. The total amount raised by the Capital Raising is $100,127,532.00, at a price per share of $1.0361.
22 January 2016
Completion of Pro Rata Raising
The company’s $5,450,000 pari passu offer of fully paid ordinary shares, as described in the Information Memorandum sent to shareholders and dated 22 December 2015 (Pro Rata Raising), closed on 15 January 2016. Tyro received and accepted applications from eligible participants in respect of 1,895,255 ordinary shares, raising a total amount of $1,963,673.71. Shares relating to the Pro Rata Raising were issued by the company on 22 January 2016.
The remaining $3,486,326.29 of the Pro Rata Raising, will be offered for subscription to TDM Asset Management Pty Limited and its associated subscribers, in accordance with the underwriting arrangements described in the Information Memorandum.
30 November 2015
Share register open
The company has put in place a $100 million capital raising in fully paid ordinary shares at a price per share of $1.0361.
- $59.5 million by Tiger Global Management
- $25.0 million by TDM Asset Management
- $10.0 million by Mike Cannon-Brookes
- $5.5 million by TDM Asset Management
Shareholders will have an opportunity to participate in the $5.5 million tranche listed above and underwritten by TDM in a pari passu offer for fully paid ordinary shares at the same price in early 2016. Further shareholder information will be provided. Shareholders are advised the share register is now open for share transfers.
22 November 2015
Trading halt and closure of the share register
Shareholders are advised share transfers are not recommended and the share register is closed pending announcement of confidential material information which is developing and expected to be disclosed within a week.