Tyro Payments Price Target Cut 27% to A$2.55/Share by Macquarie, page-39

Hi all,

Longtime reader and first time poster, and excited to be here.

I have been watching tyro since IPO and for no other reason but for tied up capital, i have not joined on board.

It seems there is definitely a lot of mixed feelings and emotions on this company at present which is expected after such a materially, albeit (hopefully)temporary, debilitating event.

I am now on the sidelines waiting for my personal entry point which is substantially lower than present, and hopefully for current holders it doesn't get there, but if it does, it meets my own personal comfort levels. My concerns for not wanting to enter at present are;

- irrespective of any limitation of liabilities or warranties and indemnities, I believe these would seldom hold up in a court if it met the required criteria, some of which are misleading and deceptive conduct (which cuts through just about anything), and uneven bargaining positions between contracting parties. I wouldn't hold my hat on excluding consequential loss if/when a class action comes calling. At this stage however, losses are not really known and whether any of its customers or other third parties on which they relied on tyro, could be bothered persevering.

- reputational damage. at this stage it's far too early to see the real damage that the outage has. The most concerning part for me here, is the one major part of its service or business completely failed some of its users. Is this a reflection of a complete failure of proper peer review, quality control, proper testing and commissioning before implementing? I'm not sure but it is worrying that the one thing they do, they failed(in part) at.

- the viceroy research report. whilst I've only dead the published media articles which take clips of said report, I am concerned at viceroys success rate at the companies they target. I always enjoy opposing views, it's what allows me to be better educated when applying my capital and making a decision. we must trust that the numbers are true and accurate as the board know best, however therein lies another concern and that is the "circling" lawyers. Is there enough in this to run a d&o class action? only time will tell.

- promotions, public relations, marketing, reimbursements etc etc. Will there be need for a capital raise after the dust settles in order to attract or retain clients? what would that price look like? either way if it's correctly implemented it could be a very good thing, after all and as they say any advertising is good advertising.

- will we get to fully understand the new mitigation procedures in place to prevent or lessen such an outage again? from better QA, better processes to get clients back up and terminals replaced etc etc? I'm hoping so. It's all a bit too quiet for me still at this stage

notwithstanding the above, if the uplifting news on actual numbers and forecasts holds to be true and the share price recovers through means of various promotions, new client retention and acquisition, discounts, aggressive marketing etc, then I would love to jump on board.

I would prefer however to jump on at double the current share price when the business is all steam ahead than for my own target price to be hit which would mean I would be entering at a greater risk point.

all my own thoughts guys