News: TYR Tyro Payments Updates On Unsolicited Approaches Received From Several Parties

Dec 12 (Reuters) - Tyro Payments Ltd (TYR) :

• UPDATE IN RELATION TO UNSOLICITED APPROACHES RECEIVED FROM SEVERAL PARTIES
• WILL CEASE ALL CURRENT DISCUSSIONS WITH PARTIES IN RELATION TO A POSSIBLE CHANGE OF CONTROL TRANSACTION
• WESTPAC NOTIFIED CO DECIDED THAT SUBMITTING AN OFFER TO TYRO IS NOT IN BEST INTERESTS OF WESTPAC SHAREHOLDERS AT THIS TIME
• WESTPAC NOTIFIED CO THAT IT HAS DECIDED THAT SUBMITTING AN OFFER TO CO IS NOT IN BEST INTERESTS OF WESTPAC SHAREHOLDERS AT THIS TIME
• DISCUSSIONS HAVE NOT RESULTED IN A PROPOSAL THAT BOARD BELIEVES FAIRLY VALUES TYRO
• REMAINS OPEN TO ENGAGING WITH ANY CREDIBLE CHANGE OF CONTROL PROPOSAL IT RECEIVES
• CONFIRMS THAT IT HAS RECEIVED A REVISED, NON-BINDING AND INDICATIVE PROPOSAL FROM POTENTIA
• REVISED INDICATIVE PROPOSAL AT A$1.60 PER SHARE
• DETERMINED TO REJECT REVISED POTENTIA INDICATIVE PROPOSAL IN ITS CURRENT FORM
• REVISED INDICATIVE PROPOSAL FROM POTENTIA AT AN ENTERPRISE VALUE OF APPROXIMATELY A$875 MILLION
• NOTED REVISED POTENTIA PROPOSAL COMES AT TIME OF SHARE MARKET VOLATILITY, CYCLICAL WEAKNESS IN GLOBAL TECH & PAYMENT CO VALUATIONS