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TYR - Tyro Payments

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Can't as it is behind a pay wall.

Cut and paste for the Plebs?

Most important - Potentia has a fair way to go to convince Tyro Payments to sell it the company
 
For you folks unable to get the full story from today's finance rag :

One fund manager dismisses the bid as opportunistic , adding that the company has no revenue problem , just an " outrageous " cost base , which is likely to be targeted by a successful bidder, perhaps by closing down Tyro's lending business. However, that banking license could attract , yet a different sort of bidder .
Private equity outfit, Potentia is expected to pay more ( up to its 25 c threshold ) for the bid to go through.
 
WESTPAC CONFIRMS PRELIMINARY DISCUSSIONS WITH TYRO Westpac confirms it is in preliminary discussions with Tyro Payments Limited to acquire 100% of the company’s issued share capital. There is no certainty that any transaction will result. An acquisition would strengthen Westpac’s small business proposition, enabling it to better support customers and grow merchant acquiring, particularly in the hospitality and healthcare sectors

Woth Holding on to see what the outcome is.
 
If a much higher bid comes through, I will consider selling out my remaining position...
 
Been A month now.
Preliminary discussions evolve into?????
 
Been A month now.
Preliminary discussions evolve into?????
 
My pick for the December comp.

No news on any takeover last month, but the share price shot up towards the end of the month.

Something in the wind?
 
Ferret said:
My pick for the December comp.

No news on any takeover last month, but the share price shot up towards the end of the month.

Something in the wind?
Click to expand...
Looks interesting. The price has continued to rise lately...



I sold the remaining half of shares in TYR as the price was stagnating for a while in the Speculative Stock Portfolio
making it the best trade of 2022 which was such a challenging year. Missed out on that recent price surge which would have made it even better to have captured.
 
FYI
Change of interests of substantial holder Potentia Capital Management Pty Ltd is now 16.08%

also

1 Terms of Revised Non-Binding Offer Based on our due diligence to date, we are pleased to submit this revised indicative, non-binding offer for 100% of the shares in Tyro for A$1.60 per share (the “Offer Price”). On a fully diluted basis, this represents an enterprise value of A$875 million.2 We believe this is a full and fair price which is highly attractive to Tyro’s shareholders. At A$1.60 per share, the Offer Price implies 5.9x FY22 Normalised Gross Profit, representing a premium of:
a) 62% to the closing price of A$0.99 per share on 7 September 2022, being the day prior to any public announcement or rumour of activity from Potentia Capital in Tyro (“Undisturbed Share Price Date”);
b) 62% to Tyro’s 30-day VWAP to 7 September 2022 of A$0.99 per share;
c) 88% to Tyro’s 60-day VWAP to 7 September 2022 of A$0.85 per share;
d) 77% to Tyro’s 90-day VWAP to 7 September 2022 of A$0.90 per share, and;
e) 167% to Tyro’s 52 week low to 7 September 2022 of A$0.60 per share.
The Revised Proposal also represents a $0.33 per share increase from our initial NBIO submitted to the Board on 7 September 2022
 
Pretty sure these guys know what they're doing. So I'll pick them in the 2023 comp.

Very confident the $1.60 T/O offer will be increased to $1.80.

Got a lot riding on it so all the power to me.
 
Good morning
TYR announcement today (16/01/23) that, Tyro Payments increases its earnings guidance with forecast transaction value increased between $42.5bn and $43.5bn this financial year.

The prediction is up from the previously announced range of $40bn and $42bn.
The result will deliver an improvement to gross profit of between $187m and $191m.

Not holding
Have a very nice day, today.

Kind regards
rcw1
 

Attachments

  • H1-FY23-trading-update-and-improved-FY23-full-year-guidance.PDF
    221.4 KB · Views: 5
My take on it is:
"• On track to reach positive free cash flow exiting FY23. "
 
TYRO OFFERS DUE DILIGENCE TO POTENTIA Sydney, 27 January 2023 –
Tyro Payments Limited (Tyro or the Company) refers to recent media speculation. Over the past five months, the Tyro Board has engaged with Potentia in relation to a potential change of control transaction. In this period, Tyro has been presented with two non-binding indicative offers from Potentia; one at $1.27 per share received on 7 September 2022 and the most recent offer of $1.60 per share received on 11 December 2022.
Both of these offers were carefully considered by the Tyro Board, with the assistance of Tyro’s external advisors, and were unanimously rejected on the grounds that the indicative offers significantly undervalued Tyro with the Board determining that these offers were not in the best interests of Tyro’s shareholders as a whole.
Following discussions between Tyro’s advisors and Potentia’s advisors and following further consideration and consultation with its external advisors, the Tyro Board yesterday offered to provide Potentia with a 4 week period of due diligence to enable Potentia to develop a significantly improved proposal and confirm the necessary funding commitments attached to any possible future offer.
The Company notes that there is no certainty that a further non-binding indicative offer, a binding offer, or a transaction of any kind will eventuate.
The Tyro Board will continue to act in the best interests of shareholders as a whole and will consider change of control proposals that represent fair value for shareholders
 
TYRO POSTS RECORD H1 FY23 RESULTS AND ACHIEVES PROFITABILITY AND
POSITIVE FREE CASH FLOW
Sydney, 28 February 2023 – Tyro Payments Limited (Tyro) today announced that it has achieved
profitability and positive free cash flow alongside strong transaction value growth and record EBITDA.
Key highlights for H1 FY23
• Delivered foundational initiatives of Tyro Go, Tyro Pro and automated onboarding - will deliver lasting
benefits to merchants.
• Statutory net profit of $1.1 million and positive free cash flow of $0.6 million.
• 37% increase in transaction value to $21.7 billion.
• 40% increase in gross profit with record EBITDA of $19.5 million.
• 101% increase in loan originations and 123% increase in banking and other gross profit.
• Operating leverage of 79.6%, down from 95.9% in the prior comparative period.
• Reaffirmed full year guidance for all key operating metrics including EBITDA range of between $37
million to $41 million at a target operating leverage of ~79%.

Great signs
 
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