Ann: Strategic Acquisition & Capital Raising, page-9

https://www.bankingday.com/article/wirecard-collapse-puts-aussie-and-kiwi-arms-in-the-frame

Extract from the above article:

Wirecard Australia Pty Ltd provides software management platforms for card transactions to a string of local ADIs including Bendigo Bank, ME Bank and Cuscal.

Little is known about the financial performance of this subsidiary.

However, closure of the Australian card technology business presents operational risks for the banks and credit unions that use Wirecard’s software.

In the current environment those risks would only be mitigated if a new owner was found for the business.

The second subsidiary – Wirecard Australia A&I Pty Ltd – covers merchant acquiring and card issuing operations. Most of this business was acquired from Citibank in 2018.

According to the latest set of financial accounts filed with ASIC this subsidiary was balance sheet insolvent at the end of December last year to the tune of $4.3 million.

The subsidiary has continued to trade with special financial support from its German-based parent, which pumped $10 million of fresh capital into the business in May this year.

Another subsidiary - Wirecard NZ Limited – employs about 25 people in Auckland.

It made a loss of $NZ 8 million in 2018 and reported a net asset deficiency of $NZ3.5 million on 31 December 2018.