Notice to shareholders
3 July 2018
Appointment and resignation of Director
Tyro, Australia’s fast-growing business bank announced that David Fite is to join its Board of Directors with effect from 3 July 2018.
In announcing the appointment Tyro’s Chairman, Kerry Roxburgh, said –
“We are absolutely delighted to welcome David Fite to Tyro’s Board. David’s extensive financial sector experience both from his time as a senior banking executive, and as an active investor in fintech companies, brings a wealth of banking acumen and expertise to Tyro.”
David has significant executive experience in the financial services sector both domestically and globally. He initially joined Westpac in 1994 as Treasurer and Assistant Chief Financial Officer and went on to run Westpac Financial Services, before serving as the Group Executive responsible for all retail and business banking product businesses in Australia, Westpac Financial Services and Australian Guarantee Corporation.
Subsequently, David joined Japan’s Shinsei Bank (formerly known as The Long-Term Credit Bank of Japan) in 2000 as its Senior Corporate Executive Officer, Chief Financial Officer and as a member of its Board. Prior to entering the financial services sector, David was a consultant at Bain & Company in Boston and London focused on manufacturing and consumer products industries.
David is currently an active investor in various credit, financial services and technology businesses, and has been a shareholder in Tyro since 2008. He attended Harvard College, holds an MBA from Stanford University and is based in Sydney.
David Fite’s appointment coincides with Rob Ferguson’s decision to retire from the Tyro Board after 12 years during which time he variously served as a Non-executive Director, Chairman and recently acting over six months as Managing Director/CEO. In announcing this news Kerry Roxburgh said:
“It is with sadness that I announce Rob Ferguson’s decision to retire from our Board. Rob has a been a much-valued Board colleague and an outstanding contributor over his 12 years at Tyro, most recently stepping in as acting CEO whilst we conducted the search that resulted in Robbie Cooke joining as CEO. The whole Tyro team has a deep respect for Rob and on behalf of us all, I thank Rob for his significant commitment and his thoughtful and very valued contribution at Tyro.”
For more information contact:
Media enquiries: Lisa Vitaris – 0408 692 340
Investor enquiries: Robbie Cooke – contact Monique Rennell on 0435 659 635
8 May 2018
Tyro to develop one-stop POS and app integration for SMEs
Tyro announces the entry into partnerships with six leading Point of Sale (POS) providers in the hospitality sector to develop and deliver a platform to connect POS systems, apps and merchants. Tyro’s platform will eliminate the need for individual POS providers to build and maintain multiple direct integrations with apps. This in turn will enable the POS providers to benefit from significant cost savings and provide an increased value proposition to their customers. For the merchants, Tyro’s platform will radically simplify how they on-board, manage and switch between the broad range of apps available to businesses and those that are increasingly being demanded by consumers.
The six POS providers that Tyro has initially partnered with are Bepoz, Fedelta, Idealpos, OrderMate, Redcat and SwiftPOS. The agreements with these parties include fixed term commitments, extending for the medium-term. Under these agreements, Tyro has secured the right as the exclusive app integrator and platform provider for these six POS providers in respect of certain integrations (including delivery, ordering, reservation, data and analytics, logistics and workforce management apps).
The introduction of the platform, extends Tyro’s offerings outside the EFTPOS and banking space.
Tyro plans to trial and bring the platform to the hospitality sector during financial year 2019 and roll out across other sectors shortly thereafter.
27 February 2018
Interim Financial Report and Shareholder Update – half year ended 31 December 2017
The company announced its unaudited results for the half year ended 31 December 2017 on Tuesday, 27 February 2018.
The company’s interim financial report, for the half year ended 31 December 2017 (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).
23 January 2018
Appointment of Mr Robbie Cooke as Chief Executive Officer
Tyro announces the appointment of Robbie Cooke as its new CEO. It is expected that Robbie will join Tyro at the end of March 2018, upon conclusion of his current role with Tatts Group Limited.
For the past five years, Robbie has held the position of Managing Director and CEO of Tatts Group, a role which concluded upon the successful merger with Tabcorp in December 2017. Prior to that, he served first as COO, and then as Managing Director and CEO, of Wotif.com over a seven-year period. During that time, Wotif.com scaled up significantly, achieved a circa five-fold increase in profits and undertook a successful ASX listing.
With his background and experience in Australian customer-centric and technology-driven businesses, the Board of Tyro considers Robbie the ideal person to lead the company through its next phase of growth and development.
Tyro’s Chairman, Kerry Roxburgh, said:
“After conducting an exhaustive local and international search, the Board is delighted to announce Robbie’s appointment. We believe he possesses all the skills and experience to lead Tyro into a new and ground-breaking chapter.”
On the announcement of his appointment Robbie said:
“I am really looking forward to leading the Tyro team through the next exciting stage of its journey and building on its energetic and innovative spirit. As a business bank providing fair, transparent and smart banking solutions in a truly customer-centric way, we have a real opportunity to build on the successes Tyro has achieved to date.”
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.