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Tyro Payments IPO Prospectus

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PROSPECTUS 2019 TYRO PAYMENTS LIMITED ABN 49 103 575 042 JOINT LEAD MANAGERS AUSTRALIAN LEGAL ADVISER Important notices OFFER No person is authorised to give any information or make any representation in connection with the Offer which is not contained This Prospectus is issued by Tyro Payments Limited in this Prospectus. Any information or representation not so (ACN 103 575 042) (we, us, our, Tyro, and Company) and contained may not be relied on as having been authorised by Tyro SaleCo Limited (ACN 637 258 096) (SaleCo) for the purposes us, SaleCo, any of our Directors, the Joint Lead Managers or any of Chapter 6D of the Corporations Act 2001 (Cth) (Corporations other person in connection with the Offer. You should rely only on Act). The Offer contained in this Prospectus is an initial public information in this Prospectus. offering to acquire fully paid ordinary shares in us (Shares). See Section 7 for further information on the Offer. EXPOSURE PERIOD LODGEMENT AND LISTING The Corporations Act prohibits us from processing applications in the seven day period after the Prospectus Date (Exposure Period). This Prospectus is dated 18 November 2019 (Prospectus Date) The Exposure Period may be extended by ASIC by up to a further and was lodged with the Australian Securities and Investments seven days. The purpose of the Exposure Period is to enable this Commission (ASIC) on that date. Prospectus to be examined by market participants prior to the We will apply within seven days after the Prospectus Date, to ASX raising of funds. The examination may result in the identification Limited (ASX) for admission to the Official List and quotation of of deficiencies in this Prospectus, in which case any application Shares on the ASX. None of ASIC, ASX or their respective officers may need to be dealt with in accordance with section 724 of takes any responsibility for the contents of this Prospectus or the the Corporations Act. Applications received during the Exposure merits of the investment to which this Prospectus relates. Period will not be processed until after the expiry of that period. No As set out in Section 7, it is expected that the Shares will be quoted preference will be conferred on applications received during the on ASX initially on a conditional and deferred settlement basis, Exposure Period. and then on a deferred (but unconditional) basis. We, along with SaleCo, the Share Registry and the Joint Lead Managers, disclaim NO COOLING-OFF RIGHTS all liability, whether in negligence or otherwise, to persons who Cooling-off rights do not apply to an investment in Shares issued trade Shares before receiving their holding statements. or transferred under this Prospectus. This means that, in most circumstances, you cannot withdraw your application once it has EXPIRY DATE been accepted. This Prospectus expires on the date which is 13 months after the Prospectus Date (Expiry Date). No Shares will be issued or OBTAINING A COPY OF THIS PROSPECTUS transferred on the basis of this Prospectus after the Expiry Date. During the Exposure Period, an electronic version of this Prospectus without an Application Form will be available at NOT INVESTMENT ADVICE https://events.miraqle.com/Tyro-IPO/Home/ for Australian The information contained in this Prospectus is not financial investors only. Application Forms will not be made available until product advice and does not take into account the personal after the Exposure Period has expired. circumstances, investment objectives, financial circumstances, During the Offer Period, this Prospectus is available tax position or particular needs of any prospective investor. to Australian investors in electronic form at It is important that you read this Prospectus carefully and in https://events.miraqle.com/Tyro-IPO/Home/. The Offer constituted full before deciding whether to invest in Shares. If you have any by this Prospectus in electronic form is available only to persons questions, you should consult your accountant, financial adviser, within Australia. It is not available to persons in other jurisdictions stockbroker, lawyer or other professional adviser before deciding (including the United States) in which it would not be lawful to whether to invest in Shares. make such an offer or invitation. If you access the electronic In particular, you should consider the assumptions underlying version of this Prospectus, you should ensure that you download the Financial Information (refer to Section 4) and the risk factors and read the Prospectus in its entirety. (refer to Section 5) that could affect our business, financial You may, before the close of the Offer, obtain a paper copy of this condition and performance and prospects. You should carefully Prospectus (free of charge) by telephoning our Offer Information consider these risk factors in light of your personal circumstances, Line on 1800 883 072 (within Australia) from 8:30am to 5:30pm investment objectives, financial circumstances, tax position and (Sydney Time) Monday to Friday (excluding public holidays). particular needs (including financial and taxation issues) and Applications for Shares may only be made during the Offer seek professional advice from your accountant, financial adviser, Period, on an Application Form attached to or accompanying this stockbroker, lawyer or other professional adviser before deciding Prospectus. whether to invest in Shares. There may be risks in addition to these The Corporations Act prohibits any person from passing the that should be considered in light of your personal circumstances. Application Form on to another person unless it is attached to Except as required by law, and only to the extent so required, a paper copy of the Prospectus or the complete and unaltered none of we, SaleCo or any other person warrants or guarantees electronic version of this Prospectus. our performance, our repayment of capital or the payment of a Refer to Section 7 for further information. return on the Shares. TYRO PAYMENTS LIMITED PROSPECTUS 2019 STATEMENTS OF PAST PERFORMANCE data is based on estimates and assumptions that we believe to be reasonable, as at the Prospectus Date. This Prospectus includes information regarding the past performance of the business conducted by us. Investors should be The market and industry data has not been independently aware that past performance should not be relied upon as being prepared or verified and neither we nor the Joint Lead Managers indicative of future performance. can assure you as to its accuracy or the accuracy of the underlying assumptions used to estimate such data. Industry assumptions, FINANCIAL INFORMATION estimates and forecasts involve risk and uncertainties and are subject to change based on various factors, including those Section 4 sets out in detail the Financial Information referred described in the risk factors set out in Section 5. There is no to in this Prospectus. The basis of preparation of the Financial assurance that any of the projections contained in this information Information is set out in Section 4. The Financial Information has will be achieved. been prepared and presented in accordance with the recognition and measurement principles of Australian Accounting Standards, as issued by the Australian Accounting Standards Board, as FORWARD-LOOKING STATEMENTS AND outlined in Section 4.2. MARKETING AND INDUSTRY DATA All references to FY17, FY18 and FY19 appearing in this Prospectus This Prospectus includes Forecast Financial Information based are to the financial years ended 30 June 2017, 30 June 2018 and on an assessment of present economic and operating conditions, 30 June 2019, respectively, and all references to FY20f appearing and on a number of general and specific assumptions set out in this Prospectus are to the financial year ending 30 June 2020, in Section 4.9.4 regarding future events and actions that, as unless otherwise indicated. Historical Financial Information is at the Prospectus Date, we expect to take place. The basis of presented on both an actual and pro forma basis and has been preparation and presentation of the Forecast Financial Information prepared in accordance with the recognition and measurement is consistent with the basis of preparation and presentation for the principles prescribed by AAS. This Prospectus also includes Pro Forma Historical Financial Information. Forecast Financial Information for FY20f based on the general This Prospectus contains forward-looking statements which are and specific assumptions including those set out inSection 4.9.4. identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, The basis of preparation and presentation of the Forecast Financial ‘expects’, ‘intends’ and other similar words that involve risks and Information, to the extent applicable, is consistent with the uncertainties. The Forecast Financial Information is an example basis of preparation and presentation of the Historical Financial of forward-looking statements. These forward-looking statements Information. The Forecast Financial Information presented in this are not guarantees of future performance and involve known and Prospectus is presented on both a statutory and pro forma basis unknown risks, uncertainties, assumptions and other important and is unaudited. factors, and speak only as of the Prospectus Date. Many of The Financial Information in this Prospectus should be read in these forward-looking statements are beyond our control and conjunction with, and is qualified by reference to, the information we do not undertake
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