• Tyro has issued a non-binding indicative offer to acquire 100% of Smartpay's shares at NZ$1.00 per share
• Consideration to be mostly Tyro shares with a cash component
• Preliminary discussions ongoing, no certainty a transaction will result

Tyro Payments Limited (Tyro) has confirmed that it has issued a non-binding indicative offer to the Board of Smartpay Holdings Limited (Smartpay) to acquire 100% of Smartpay's issued share capital at a price of NZ$1.00 per share. The consideration would comprise mostly Tyro shares as well as a cash component, with the proportion to be determined. Tyro is currently in preliminary discussions with Smartpay regarding the proposal, but there is no certainty that any transaction will result, or if so, on what terms. Tyro has stated that nothing in the announcement or its proposal comprises a notice of intention to make a takeover offer for the purposes of the New Zealand Takeovers Code. Tyro has committed to keeping the market updated in accordance with its continuous disclosure obligations.