6 questions lodged at 2024 Tyro hybrid AGM

Q1. Our share price has dropped from $4 in 2021 to 88c and rival payments provider ZIP has gone from 29c to $3.40 over the past 15 months. I'm a shareholder in both companies. Could the CEO have a crack at explaining why the shareholder experience has been so different? What did we do wrong and what did ZIP do right?

Answer: The chair and CEO both pitched in with the RBA's surcharges review and ZIP offshore focus being the guts of the explanation.Watch video of exchange via Twitter.

Q2. Which of the proxy advisers cover us and did any recommend against any of today's resolutions, including this rem report item? If so, what reasons did they give and will you disclose the proxy votes before the debate so shareholders can ask questions about the reasons if there have been any protest votes? Please don't say they are confidential. It is standard for companies to be across this detail on the voting recommendations and inform shareholders where relevant without publishing the full proxy adviser reports, of course.

Answer: The chair Fiona Pak-Poy provided an excellent summary although she should have named the firm which recommended against rem. Watch video of exchange via Twitter, plus these additional comments explaining the rem concerns.

Q3. Could the CEO summarise his past LTI grants as to whether they have vested or lapsed. Also, has he ever sold any ordinary shares in the company or bought any on market without relying on an incentive scheme to build his equity position in the company? Please don't say look it up in the annual report and through ASX announcements. It's complicated and the CEO could factually summarise the situation in 60 seconds.

Answer: The CEO Jon Davey gave an excellent factual summary and is well aligned. Liked his overall performance and demeanor at the meeting. Watch video of exchange via Twitter.

Q4. Australia is in the midst of an unprecedented deluge of takeovers that has contributed to ASX listings falling by 176 to 2,124 since June 2022, including 21 straight months of declines. There have already been 27 major takeovers above $200m completed in 2024. Why are public markets not valuing ASX listed companies like ours more highly and what are we doing to avoid being gobbled up like so many other companies. Also, would it be logical for Square, Visa or Mastercard to own Tyro as payments become a more globalised game?

Answer: Watch video of exchange via Twitter.

Q5. The annual report says we have 16,621 shareholders but less than 3% will vote by proxy or in the upcoming poll. When disclosing the outcome of voting on all resolutions today, including this proposed STI grant to the CEO, could you please advise the ASX how many shareholders voted for and against each item, similar to what happens with a scheme of arrangement? This will provide a better gauge of retail shareholder sentiment on all resolutions & insight into Australia's chronically low retail shareholder vote participation.

Answer: The question wrangler didn't seem to understand and just assumed we were asking them to follow the existing law. Watch video of exchange via Twitter.

Q6. As chair of the company, could Fiona comment on what she thinks the incoming Trump administration's embrace of all things crypto will mean for our business, if anything? Are we able to process crypto payments and have we looked into this? Is the rise of crypto a friend or foe of Tyro? Could the CEO also summarise his overall view about the crypto scene.

Answer: The chair said with Trump "watch what he does, not what he says", whilst the CEO said they have nothing to do with crypto because merchants don't want it and there is too much risk. Watch video of exchange via Twitter.

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