Sydney, 1 December 2023 – Tyro Payments Limited (Tyro or the Company) refers to its ASX announcements dated 4 September and 16 November 2023, relating to the proceedings in the Supreme Court of New South Wales (Proceedings) commenced by Tyro against Kounta Pty Limited (Kounta).
On 16 November 2023, the Court made orders restraining Kounta from soliciting, inducing or otherwise attempting to persuade any Tyro merchant to become a merchant of any entity providing Acquiring Services. In its reasons for judgment, the Court also found that Kounta had breached its contractual and fiduciary obligations to Tyro.
Kounta has now filed a Notice of Appeal in the New South Wales Court of Appeal. The appeal seeks to set aside the Court’s orders.
Tyro intends to contest Kounta’s appeal and notes that the Court’s orders on 16 November 2023 restraining Kounta from soliciting, inducing or otherwise attempting to persuade any Tyro merchant to become a merchant of any entity providing Acquiring Services remain in force.
TYR Price at posting:
$1.06 Sentiment: Hold Disclosure: Held
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